Nike Self-Lacing Shoes
Written By: Danya Almoghrabi
Nike’s self-lacing shoes are the first of its kind. The first self-lacing shoes ,shown in the movie Back to the Future projecting an idea of the shoe in 1985, has finally been made. There are two types of shoes, the limited edition Nike Mags, with a low supply of only about 90, and the Nike HyperAdapts, which are being more widely produced. The HyperAdapts tighten by just the press of a button on the side of the shoe. They have automatic lights, and a battery that lasts for about two weeks. The shoes are made for any form of physical performance.
Nike HyperAdapt
The HyperAdapts do not have a real cost yet, but it will be out to purchase during the holiday season this year. This will probably create an increase in demand as people will most likely buy them for gifts. But, the opportunity cost of these shoes will be high. The real cost is projected to be high because of how much technology is put into this shoe. In addition, the shoes are very new which may cause some technological problems with the shoe. Also, the supply isn’t as large as other shoes because the HyperAdapt is the first shoe of its kind which might cause the price to increase even more.
Will other major athletic brands try to create similar shoes as Nike? Did Nike just spark a huge technological advancement that will turn into something even bigger than expected? I believe that the answer to all those questions is yes. This can compare to how Apple has made major changes to the new iPhone and will cause similar products to change because of it. The HyperAdapts are going to be a major change to the company and the whole athletic industry.
Nike. "Nike HyperAdapt 1.0 Manifests the Unimaginable." Nike News. N.p., n.d. Web. 09 Oct. 2016. http://news.nike.com/news/hyperadapt-adaptive-lacing
"Meet the HyperAdapt, Nike's Awesome New Power-Lacing Sneaker | WIRED." YouTube. YouTube, 2016. Web. 09 Oct. 2016. https://www.youtube.com/watch?v=1xcxn7pOYCg
This blog post was interesting, yet not surprising, to read. The fact that this brand and type of shoe has such a limited supply will undoubtedly increase its true cost, and thus have a larger impact if you were to purchase these shoes. It’s not terribly hard to see that this is an extremely private good, and the product will go to the highest bidder, or in today’s economy, whoever can fork over the price of the shoes that will inevitably be higher than most people can afford for just one pair of shoes. I do agree with the last statement -- this will cause a huge shift in the market, without a doubt. With this technology now on the market, competitors will need to step up their game.
ReplyDeleteIt is interesting that Nike made a self lacing shoe and I feel it will do very well if it is a reasonable price. It also makes one less thing we have to do in our busy lives.
ReplyDeleteLike most innovative, breakthrough technologies, the self-lacing Nikes are going to be a hot buy for the first 3 or so months of its life span. Unfortunately, with the low supply, the product will be highly costly to those seeking it. I imagine that in the beginning, only the spoiled kids of wealthy parents will get their hands on them. Soon after, reviews by shoe critics will reveal many facts and opinions, and whether it's worth the cost. This will be key in determining the sales performance, as a large portion of people rely on the media for decision making. I feel like these Nike's will remain at a high cost due to the "innovative breakthrough", and after an initial spike at release, will regress to poor sales when the majority realize that they do not need them. On an unpopular issue, this may carry a negative stigma with older folks, as they appear the Millenials to be getting "lazier".
ReplyDeleteFirst of all, I'm very surprised that I haven't heard about these shoes coming out before, especially because I am actively following a lot of social media pages and have a pretty good sense of what trends are going on. I couldn't agree more that these shoes are just the tip of the iceberg, and just the beginning of a new revolution of shoes and technology as a whole. I mean, self lacing shoes? When you come to think of it, owning nice shoes in itself is a luxury. Now shoes that tie themselves? I don't even really see a point to why that was made other than for bragging rights or to show off the advancements that Nike is capable of. Either way, the shoe is turning heads, which is exactly what Nike wanted it to do. Obviously the shoes weren't designed to be made for the general public seeing as only 90 pairs were made. That is where the catch is, the public wants them and gets a kick out them BECAUSE they can't have them. I cannot disagree.. If I had the opportunity to buy those shoes for a reasonable price I wouldn't pass them up.
ReplyDeleteI think it’s very interesting that Nike came out with these shoes. I personally wouldn’t buy or wear these but I know a lot of people would. The question is, how many people are willing to pay (probably) a high price for these shoes? If Nike gains a lot of profit from these shoes, I’m sure other companies like Adidas or Reebok will look into creating a shoe like this. Who knows, maybe these companies are already in the process of creating another shoe like this.
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ReplyDeleteI agree that the demand for these shoes will be high so the price will be high as well since there are only a limited of supply of those shoes right now. I find it so amazing how far technology has come that Nike actually made self-lacing shoes. I can't even imagine how high the price is going to be. This was a very interesting post to read and I never knew about Nike making self-laced shoes till now so thank you for sharing this. Also, you had a really good wrap-up overall stating how the shoes are going to be a big impact on the company and the whole athletic industry, instead of just restating your thesis.
ReplyDeleteI'm surprised that Nike has made a shoe that can self-lace, although, it would most likely mean that our generation sure is getting lazy. Also, with newer technology, new problems come across, and that's just another concern that would come up in the long run. To me, it just seems that there's going to be more problems with technology,.. and I'm not a big fan of it either. It just seems that these shoes could cause problems, which is why I wouldn't consider buying them. Although, if Nike is coming out with this brand of shoe, I don't think it'll impact other companies. It just seems weird to have a self-lacing shoe..
ReplyDeleteHowever cool this technology may be, I myself wouldn't find myself getting these shoes. However, it will be interesting to see the demand of the shoes when they release and see how the demand fluctuates based on what the price also does. It will also be interesting to see if Nike expands this self lace idea to other shoes such as soccer, basketball, or football shoes.
ReplyDeleteI agree that the expensive cost of the shoes will have an effect on who buys the shoe. But it seems like the high cost will create a very limited market so the low supply won't be a problem. Consumers will have to weight the opportunity cost of having shoes that automatically lace. Is having shoes with the newest technology worth the cost? I think for many the answer will be no at first, but as time goes on people will be more accepting of them, and the demand will increase.
ReplyDeleteThis is the first I am hearing of these self lacing shoes, and it is very interesting. It definitely shows an increase in advanced technology, which could mean that there is an increase for other shoes as well. This means that the supply for Nike shoes in general could increase. Although these shoes are a very new and exciting thing, the price will probably be very high, which will definitely decrease the quantity demanded. So even though there will only be a low number of these shoes being produced, it seems very unlikely that this will be a problem for the small number of people that will most likely be able to afford them.
ReplyDeleteAlthough others might take interest in these shoes and look over the opportunity costs, I would not. These shoes, while they are new technology and the first of their kind and all that good stuff, do not appear to have much usefulness to the general public. Things like the light-up feature and the self-lacing are really unneeded in a shoe, as they do not provide any extra purpose as to what a shoe is for. Yeah its cool maybe, for people who dont know how to tie their shoes or are just too lazy to, and for little kids who like light-up shoes still. However, for the actual functionality of a shoe, I believe these new shoes do not meet that, and rather just add on extra features that they can charge high amounts for and make more profit off of people. Just another money scheme in my opinion, even though it is new technology. It is not that innovative though and wouldn't have much actual purpose to the majority of the population unless you collect shoes. Otherwise, I think the demand will be pretty low.
ReplyDeleteI definitely think these shoes will be flying off the shelves. In my own case, I will not be willing to swallow the high costs that they will most likely be at, I am willing to bet that many people will want these new and innovative shoes as soon as they become available. I am also very interested to see what other companies do to combat this new market that Nike may have created. Will we be seeing several new brands of self-lacing shoes?
ReplyDeleteAnything new with a Nike logo on it will get buyers.A new niche to a great company will probably do great things for Nike, but you wonder how long it will take until a competitor brings in the same product or a cheaper price. The concept of self tying shoe laces is something that people may see as useless considering it only takes a few seconds to tie them. Once the first wave of buyers get there hands on these shoes and realize that they are not that amazing of a product I see the demand of these shoes going down. In the end I think that this product is a good idea, but I feel as is it won't be a product that stays hot on the market forever.
ReplyDeleteThis shoes will, without a doubt, cause a new trend throughout the other major brands. Although this is not a necessary innovation, people with higher incomes will still buy this because it is a normal good. I would argue that athletes would not use these shoes because their opportunity cost is to high By this I mean that the athletes will be payed to wear them, but could hinder their overall performance.
ReplyDeleteI would consider myself very into shoes; I have over 30 pairs. However these shoes are not enticing me. Although they are Nike and have the name brand, I would not buy these. I would never buy shoes with a light on them. Overall the appearance of the shoes isn't enticing as a buyer. This is simply another case of Nike trying to do too much. It will attract publicity however the idea of self lacing shoes won't stick.
ReplyDeleteI would consider myself very into shoes; I have over 30 pairs. However these shoes are not enticing me. Although they are Nike and have the name brand, I would not buy these. I would never buy shoes with a light on them. Overall the appearance of the shoes isn't enticing as a buyer. This is simply another case of Nike trying to do too much. It will attract publicity however the idea of self lacing shoes won't stick.
ReplyDeleteHonestly, the fact that Nike is making self-lacing shoes is both cool and absurd. It’s cool because you can have shoes like the ones in Back to the Future. But at the same time, it’s completely absurd! Are we seriously getting to the day and age where we can’t bend down and tie our shoes with our two hands? It’s not that difficult that we need to have self-lacing shoes. And since they are so high-tech, think of all the issues they’ll have. What if something goes wrong with the battery and started exploding like the Galaxy Note 7? How much will it cost to fix the shoes? Who will fix the shoes, or will you have to go buy a new pair? There are countless questions and concerns that come with this product, but the advantage is that you have technology, literally, right under your feet. Personally, it would be cool to relate to Back to the Future, but I would not want to waste money on this type of shoe. I would rather buy cheaper shoes than these expensive ones. Although the company may have an increase in their profit, it may not last long. They could be like the Apple company and slice their prices dramatically on this product and then eventually have angry consumers who bought the product at a high price. So the company may make some nice profit. But the fact that we need self-lacing shoes is ridiculous. Consumers are demanding more technology which is making people so lazy, we can’t use our hands to tie our shoes that take 30 seconds to tie.
ReplyDeleteThis idea is really cool, and I would love a pair myself. However, I wouldn't think for one moment that this is where the shoe market is going. I can very nearly guarantee that the price of these shoes is going to exceed the amount a normal person could afford, thus making them a novelty item. Such luxury is going to be very expensive and can't really form a trend. I would definitely be surprised if Nike put these out at a reasonable price. If they don't, there is going to be a drop in sales decreasing their margin of profit, thus abandoning the idea again.
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