21世纪经济报道·2025-11-02 04:14Core Viewpoint - The article discusses the intense discounting strategies employed by major sports brands during the "Double Eleven" shopping festival, highlighting the competitive landscape and the challenges faced by these companies in terms of sales growth and market share [1][7][9]. Discount Strategies - Nike leads the discounting efforts with a slogan "Not just 50% off," offering shoes at prices as low as 200+ yuan, creating a comprehensive discount matrix across channels [1] - Adidas focuses on popular items with a "starting from 50% off" strategy on Tmall, along with additional coupons [1] - Anta promotes discounts of up to 60% off on Tmall, while Li Ning offers similar discounts across multiple platforms, with JD.com providing additional member discounts [1] - Li Ning appears to have the largest overall discounting strategy among the brands [1][5]. Price Comparisons - Nike's flagship Vaporfly 4 is priced at 1409 yuan after discounts, with a discount rate of approximately 8.3% [3] - On JD.com, the same shoe can be purchased for 1369 yuan, reflecting a discount rate as low as 80% [4] - Adidas's Adios Pro4 shows weaker discounting, with rates around 9.1% to 9.3% across platforms [4]. - Anta's C202 6Pro has varying prices across platforms, with JD.com offering it at 1359 yuan after discounts [4]. - Li Ning's Feidian 5 Elite shows significant discounting, with rates as low as 6.9% [5]. Sales Performance - Li Ning reported a decline in retail sales, with a mid-single-digit percentage drop in the third quarter [7]. - Nike's revenue in Greater China fell by 10% to 15.12 billion yuan for the latest fiscal quarter [7]. - Anta showed slight positive growth, but overall growth is under pressure [7]. - Adidas experienced a 10% revenue increase in Greater China, but still faces growth challenges [8]. Market Share Dynamics - Adidas's market share in China has decreased from 15% in 2021 to 8.7% in 2024, while Nike's share has slightly declined from 18.1% to 16.2% [8]. - Anta's market share increased from 9.8% to 10.5%, and Li Ning's share rose from 9.3% to 9.4% [8]. - The competitive dynamics among these brands correlate with their discounting strategies during the "Double Eleven" event [8]. Industry Challenges - The article highlights that the intense discounting reflects broader challenges in the industry, with sales contraction becoming a prevailing theme [7][9]. - Frequent discounting has impacted the financial performance of these companies, with Anta's gross margin declining by 0.7 percentage points [9]. - The rise of domestic brands has eroded the pricing power of established players like Nike [9].