The rise of sneaker reselling.

THE RISE OF SNEAKER RESELLING

 

Sneakers! A thing we all love. They have come a long way since their humble beginning as simple athletic footwear. But today they are cultural phenomenon and a must be accessories for almost everyone. With limited edition releases, often sneakers sell out in mere seconds! You heard it right, seconds! And with the rise of sneaker reselling, some of its value has skyrocketed, with some pairs fetching tons of thousands of dollars on the secondary market.

 

So what is sneaker reselling? If we put it in a simple way: it’s a business of buying sneakers at retail prices then selling them for a profit on the secondary market. Sneaker reselling has been around the globe for decades. Now with the help of social media it has really taken off. Though the sneaker culture is saturated in our country, people are now rapidly embracing the culture. So the reselling business is also growing faster and bigger. Right Now it is a Multi-Billion dollar industry around the globe, with thousands of resellers making a living off of it.

 

Why do people buy resold sneakers?

There are few reasons why people tend to buy resold sneakers. For instance, some sneakers are limited edition releases. So, you cannot find them in stores after certain time. So, the only way to cop those is through resellers. Resellers can find you rarest sneakers if you tell them so also some people may not have been able to buy certain sneakers from stores due to high demand, they can go to the resell market and have a second chance to grab them.

 

 

One of the biggest drivers of this industry is the limited edition releases that many luxury brands put out. These releases often have a very limited production run, making them highly hyped up. As soon as these releases sells out at retail, resellers immediately go and cop up as many as pairs they can. Later they sell these releases at secondary market often making a significant profit. This process is also seen in our country’s resellers. they tend to buy sneakers from retail market at a cheaper rate then sell it at higher rate in secondary platforms. And if it’s a special release then it is a treat for the resellers.

 

supreme x sb dunk limited edition

Reselling culture in our country:

We now see so many websites in social medias which resellers use to sell and promote their brands/pages. especially the youth of our country is more attracted in this industry because I feel like they understand the market and culture well enough. They know which sneakers will sell most at which time also this business can be done as a side hustle that means you can maintain your studies or other activities while also doing this. So often resellers earn money doing this side hustle while maintaining their studies

Sneaker reselling as a career:

 Right-Now sneaker reselling is not just a side hustle thing. There are plenty of websites like Stock X GODT, sneaker hub where every detail of sneakers, their release date, retail price/ market price etc. are displayed which makes it a legitimate business. Resellers can buy and sell sneakers from these and they can also know the exact time of Limited-Edition releases from these sites. You can make dollar out of dime in this business because there are plenty of resources. You just have to be patient and give proper time to this.

 

 

Some of the most hyped up and most wanted sneakers are the collaboration between sneaker brands and High-Profile figures. These releases make a lot of bucks in the secondary market. For example, the Nike air Yeezy 2, a collaboration between Nike and rapper Kanye West, has sold almost 90,000 Dollar in the secondary market! The Nike SB Dunk and Louis Vuitton collaboration sold about 350,000 USD in the secondary market! There are other collabs like Travis Scott x Air Jordan 1 Low "Tiffany" Customs , Nike Bape x Eminem by which resellers made a significant profit.

 

But not everyone is a fan of sneaker reselling. because it has a dark side too. There have been cases of violence even death related to this business. It’s a competitive business with people with different cultures. So, people would do anything to get access of the Limited-Edition releases before anybody else. Which leads to violence of many kinds plus it also drives up the prices of sneakers as a result normal people cannot afford it.

 

Despite of the controversies, sneaker reselling shows no sign of slowing up. As long as brands put out limited edition releases, the secondary market will thrive for it. And right now it is a part of sneaker culture. we see brands, celebs promoting sneaker reselling . and why shouldn’t they? Despite of the risks, this business have a immense amount of opportunity to build yourself from nothing. All it takes is proper time and smart work!

 

I tried to give you a vivid idea about sneaker reselling and sneaker culture.With some research, you can make money from your passion in no time. There is a site called Sneaker news where you can learn different aspects of sneaker culture and sneaker reselling.