Foot Locker is staging a comeback by diversifying its product selection and creating customer demand after its breakup with Nike. Here are a few strategies that Foot Locker is implementing: 1. Collaborations: Foot Locker is partnering with various big-time brands and pop-culture phenomena for limited-edition releases. This includes exclusive collections and collaborations with popular designers. These partnerships aim to build excitement and increase customer interest in new products. 2. Diversifying Portfolio: While Foot Locker was heavily reliant on Nike (accounting for about 70% of its merchandise), they are now diversifying their brand portfolio by including products from other popular sports and casual wear brands. 3. Rejuvenating Stores: The company is refurbishing its stores to provide an engaging shopping experience. ‘Power stores’ have been introduced in big markets. These stores are up to four times larger than a typical Foot Locker store and offer localized, exclusive products. 4. Investments in other Companies: Foot Locker has been making strategic investments in other companies to reach younger customers and become a wider platform for exclusive products. 5. Expanding Online Presence: Recognizing the importance of e-commerce and the digital world, Foot Locker is focusing on enhancing its online presence. It aims to provide a seamless shopping experience to its customers, both in-store and online. 6. Inclusive Sizing: Footlocker is expanding product offering to meet the diverse sizing needs of its customers. By focusing on these strategic areas, Foot Locker is waging a well-rounded comeback. They are diversifying their product offering, providing meaningful in-store experiences, and enhancing their online platform to meet changing consumer demands.

Foot Locker is strategizing a comeback following its split from Nike by implementing several tactics.

Firstly, Foot Locker is amplifying its efforts to diversify its product range. Instead of heavily relying on a single brand, it plans to expand its merchandise selections with a variety of brands to cater to a broader customer base. They’re investing in new partnerships and collaborations with different brands, positioning themselves as a multi-brand retailer.

Secondly, the company plans to capitalize on the growing trend of sneaker culture. Sneakers are fashion statements and Foot Locker aims to attract sneaker enthusiasts by offering limited editions and exclusive releases from various brands.

Foot Locker is also utilizing data-driven approaches to better understand its customers’ needs and preferences. Using consumer behavior data and feedback, it can curate personalized shopping experiences and product recommendations to engage shoppers and increase customer loyalty.

Additionally, Foot Locker makes use of their physical retail stores as focal points for community events. The company hosts locally relevant experiences and events to foster a sense of community and to increasingly engage with millennials and Generation Z customers, who value such interactions.

The retailer is also intensifying its online presence. Foot Locker plans to enhance its e-commerce platform to improve user experience and to offer more online exclusive products in response to the shift of consumer shopping habits toward online platforms amid the pandemic.

Lastly, investments in other smaller and emergent companies is a significant part of their strategy. Through their investment arm, Foot Locker has gained stakes in Goat, Pensole, and Super Heroic – businesses that could drive innovation and offer fresh retail concepts.

In summary, Foot Locker is waging a comeback after its breakup with Nike by focusing on diversification, discovering and investing in emergent brands, enhancing their online and in-store shopping experiences, hosting community-based events, and utilizing data-driven approaches to meet consumer demand.