Nike’s Nike Gift Cards, which launched last week, are an attempt to address the challenges facing the apparel industry as the apparel sector grapples with rising consumer spending.
“Our goal is to provide a better way for people to connect with the brands they love, where they can shop and shop with brands that truly represent their personal tastes and tastes,” Chief Executive Officer of Nike Group Tom Barrack said in a statement.
“Through our unique Nike Gift Card Program, we are providing consumers with more value for their dollars by rewarding brands with unique and thoughtful gifts for a personalized experience.”
Nike Gift cards offer retailers a range of discounts on the latest Nike products including sneaker, apparel, and accessories.
“We’re really excited about this new program,” Barrack told reporters at a conference on Friday.
“It’s the next step in giving people more choice and access to the best brands.”
Nike said the program will launch this month in countries including India, Brazil, China, France, Germany, Indonesia, Malaysia, Mexico, Philippines, Russia, Spain, Turkey, and the United Kingdom.
“The Gift Card program is about providing people with more choice, more access, and more fun,” Barracks said.
The company said it has about 1,500 million cards in circulation.
The cards have a total value of about $150 million, Barracks added.
The retailer said the card program is part of its “Gift Program,” a program that gives consumers a free gift of $10 or more to spend on their favorite Nike products or apparel.
Nike also recently rolled out a $5 off code, but the program was not available for the new card.
Barrack also said the company is working on a new, innovative gift card that would offer discounts on footwear and apparel to people of all ages.
“This is a great opportunity for our customers to receive some real value,” Barrades said.
“That’s why we’re launching this new value card program.
We want to give people more value and we want to make them feel more special.”
The program will be rolled out over the course of the year and will include the new “Nike Card of the Month” that offers $25 off Nike shoes or apparel for a limited time.
The card will be available on Nike.com, Nike.co.uk, NikePay, Nike+ and Nike.tv.
“I’m really excited by this new opportunity for consumers to receive a real value from their money,” Barr said.
He also said that the card could be rolled into a larger program like Nike’s “Passion Card,” which gives people $50 off Nike products.
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