The Sneaker Resale Market is Worth $1.2 Billion | Fortune

The Sneaker Resale Market is Worth $1.2 Billion | Fortune


a sneakerhead is someone that is
basically crazy, bananas, wild for sneakers there are a few sneakers and I paid a
thousand-dollard or more it doesn’t matter what the brand is it
doesn’t matter what the company, or what the style, or what the price the sneaker resale market has existed for 30 years, right? When Air Jordans first came out in
1985 by the end of 2014 Nike including Jordan brand which Nike
owns, accounting for about ninety six percent of the secondary market just you know
it’s all about Nike and Air Jordans. But in February of 2015 Adidas launched
the Yeezy and today Adidas is over thirty percent of the
secondary market entirely on the back of the Yeezy and then other shoes that they
released after that. These shoes are very high demand resale shoes for at
least a thousand dollars and more and you know people were crazy for them. Theres a famous Sports Illustrated cover from 1991, where it
said your sneakers of your life because there’s all this violence around people
buying and selling sneakers there’s a living date they put it online
they come try to sell me people that can’t afford it they’ll pay the extra
dollars for it. and that’s what keeps the game going. the real, you know, growth in the sneaker
industry we can kind of peg it to two distinct times. first with 1999-2000 after ebay launched from the internet and now people could buy and sell sneakers online the really big boom happened in 2011- 2012 and that’s really around social media and in particular Instagram. We do have over a 170-thousand followers. We
attract people from all around the globe so when you look at the sneaker the
resale market and its growth you can peg it almost directly to Instagrams
corporate growth first quarter of 2012 Instagram has just been bought by
Facebook and it started to really, you know, take off and we can see that in the
sneaker market as well. I never worked in the sneaker industry in any way. I did
however start working at IBM in 2010 and started doing a lot of data work. and at that
point I started thinking I wonder if i get ahold of some sneaker data just just
to play with my own amusement just to see what i could create out of it. We
ended up creating you know this sneakerhead data, Kelley blue book for
sneakers; a price guide for sneakers that was the the entry point what is one
sneaker worth but once you can figure out once what one sneakers worth then
you figure out what what they’re all worth. The original idea with with camplus
and what we’ve taken to the next level with StockX was to take a very a
data-driven approach to how we approach analyzing and giving people much better
better information about the resale market. We’ve commoditize sneakers we only allow the sale of brand-new
deadstock sneakers on StockX. And we physically authenticate every pair that’s
sold, even if you don’t care about the big idea behind the stock market if
you’re a fifteen-year-old kid you know you’re never gonna get a fake sneaker. That
transparency is commonplace in the stock market it doesn’t exist within consumer
market places so that’s really what we’re doing in StockX, is bring that level
transparency to a consumer marketplace and we’re starting with sneakers.

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