Introduction
In recent years, the contemporary fashion world has seen a new trend – reselling. It is a phenomenon where people buy and resell designer clothes, limited-edition sneakers, and other items. It has created a distinctive subculture with fashion, sports, music, and other influences. This thesis will discuss the history of reselling and its current market, elements contributing to the popularity of certain brands, methods for sourcing sneakers for resale, available reselling platforms, and essential steps for successful sneaker reselling. All this information combined should give readers an understanding of today’s sneaker resale market.
Studying this topic can provide valuable insight into modern consumer culture and resellers’ strategies and tactics to make a profit. This paper will benefit people interested in learning more about this fast-growing sector, professionals within the fashion industry, and potential entrepreneurs looking to get involved in sneaker resale. Finally, it can be informative for those looking to start a business in this niche. Through exploring the history of reselling, understanding how sneakers go from being an item made for wearing to one worth million of dollars on the secondary market, and the platforms available for selling these products, readers should gain a comprehensive overview of the sneaker resale market.
Literature Review
History of Reselling
The sneaker reselling industry has grown substantially over the past three decades. It all began in the late 80s when sneakerheads worldwide started exchanging rare pairs of kicks. By 1990, sneaker clubs had been formed to facilitate this exchange, paving the way for organized resell exchanges. From then on, there was no looking back for the budding industry. Soon after, websites like eBay enabled resellers to profit from selling their sneakers online (Weinhold, 2020). This allowed anyone with a good eye for design and an understanding of market trends to enter a lucrative business quickly. As the internet became more widely available worldwide, platforms like Stock X made it much easier to flip sneakers for profit (Flores, 2020). This further increased the popularity of reselling and enabled a more significant number of people to participate in it.
The 2010s were the ultimate decade for sneaker culture and the birth of the “hype beast” trend. Celebrities such as Kanye West brought sneakers more into mainstream fashion, and people quickly realized they were hot commodities that could be resold at high prices (Yousaf, 2022). Thanks to digital technology, sneakerheads everywhere had an easier time keeping track of their collections and tracking down limited-edition shoes (Park et al., 2022). As a result, communities grew stronger with dedicated forums and websites, allowing different members to connect online or even through conventions. This passion has helped fuel the sneaker reselling industry. It has become a legitimate business with dedicated resellers and companies specializing in flipping shoes for profit (Kulinicheva, 2021). With an increasing number of people participating in the market, sneakers have become more than just shoes – they are now meaningful collectibles that can be bought and sold like art pieces.
The growing demand for rare and limited-edition sneakers has helped to drive the sneaker reselling industry even further. People now strive to be the first to access a new shoe model as soon as it is released. Resellers have capitalized on this trend by using bots to jump the queue and purchase exclusive shoes in bulk (Weinhold, 2020). Furthermore, they are also utilizing different strategies, such as creating fake accounts and forming partnerships with stores to gain access to particular models (Flores, 2020). There is great potential in the sneaker reselling market. With more people engaging in the market daily, the demand for rare sneakers has only increased, leading to record prices for some of the most coveted shoes. The sneaker reselling industry is here to stay.
The Most Popular Brands and Why They Are So Popular
Nike
The Origin of Nike
Nike Inc. is a footwear and apparel company founded in 1964 by Bill Bowerman and Phil Knight as Blue Ribbon Sports (BRS). The company name was changed to Nike in 1971, after the Greek goddess of victory. Nike has grown since its inception to become one of the world’s leading global brands, with an estimated $30 billion in revenue in 2020 (Kim, 2020). The first product released under the Nike brand was the Cortez running shoe—a milestone for the brand that marked its entrance into the athletic market. Since then, Nike has created iconic sneaker lines such as Air Force 1s and Air Jordans, which have become staples among athletes and sneakerheads alike.
In addition to shoes, Nike also produces apparel and accessories related to the sports and fitness industry (Mujahidah & Tan, 2021). Nike’s success has been largely due in part to its powerful branding. The iconic logo, first developed by Carolyn Davidson in 1971, is recognized worldwide. It symbolizes Nike’s mission of excellence, innovation, and team spirit (Ezra & Wheatley, 2021). Furthermore, Nike has used endorsements from athletes like Michael Jordan to strengthen its brand presence further. These strategies have propelled Nike into a global leader in athletic apparel.
Nike Inc. has long been a leader in the athletic industry, and it’s no wonder why – their innovative branding and product design, combined with their uncanny knack for understanding their customers, has kept them at the top of the sneaker game for decades. Nike sets the standard for innovation and consumer engagement, from creating passionate fan bases through online communities and social media networks (Kulinicheva, 2021) to producing cutting-edge products that remain popular over time (Meyer, 2019). They’ve mastered the art of staying ahead of trends while keeping their fans engaged – which is why they are one of the most iconic brands in the world. As long as they continue to keep pushing boundaries, there’s no doubt that their success will continue to be unmatched for years to come.
Nike Collaborations
Nike collaborations, especially in the sneakerhead culture, have become incredibly popular. Teng et al. (2020) discovered that celebrity business ventures could attract fans and non-fans to a brand by offering exclusive products that customers highly appreciate. Matthews et al. (2021) also observed how sneakers had become a way for men to express their personalities and foster relationships through shared interests.
Nike has taken advantage of this trend with its collaborative projects with various hip-hop artists such as Travis Scott and Kendrick Lamar, which Burgess (2020) described as bringing fresh cultural importance to the brand by joining “the gap between high fashion and streetwear. Nike has utilized its partnerships with famous figures to design limited-edition collections that meet the demands of sneakerheads. For example, Burgess (2020) pointed to Travis Scott’s Air Jordan IV “Cactus Jack,” one of the most sought-after sneakers released in 2019 and sold out within minutes due to its exclusivity and exclusivity superior quality. This demonstrates how Nike uses collaborative projects with influential artists, athletes, and influencers to create unique consumer experiences and leverage their broad fan base.
The collaboration between Nike and Michael Jordan is one of history’s most iconic and successful partnerships. This powerful connection has revolutionized sports marketing and pushed the boundaries of sneaker culture, making it what it is today. The Air Jordan I, released in 1985, was the first shoe to bear a specific athlete’s name – forever transforming basketball fans’ relationship with sneakers. These shoes quickly gained popularity amongst basketball lovers who saw them as an extension of their beloved player, further strengthening Nike’s customer bond (Teng et al., 2020). Since then, new editions of these classic Jordans have been released annually, reaffirming his influence on sneakerhead culture.
By leveraging collaborations like this, Nike gains an edge over the competition and reaches a broader audience – all while boosting its brand awareness. It is clear that Nike has effectively tapped into the potential of collaborations and continues to utilize this strategy to remain one of the top brands in the sneaker industry. This multifaceted marketing approach has truly revolutionized Nike’s success over the years.
Adidas
Origin of Adidas
Adidas AG is a German multinational corporation and the world’s second-largest sportswear manufacturer. It was founded in 1949 by Adi Dassler, who began producing sports shoes in his mother’s wash kitchen in Herzogenaurach, Germany. The company quickly became one of the leading brands, operating in over 160 countries (Adidas AG., n.d.). In 1924, it was registered as Gebrüder Dassler Schuhfabrik (Dassler Brothers Shoe Factory), created with Adi’s brother Rudolf. At the 1928 Summer Olympics, their innovative sports shoes were popularized, and demand grew afterward (Lewis, 2023). Following a feud between Adi and Rudolf, they parted ways, and Adi founded Adidas in 1949, while his brother created Puma (Lamare, 2021).
In 1951, the iconic three-stripes logo was introduced, and the first tracksuit was launched four years later. Stan Smiths and Superstars sneakers were released during the 1960s and 70s, building Adidas’ status as a leader in sports apparel (Adidas AG., n.d.). Adidas has come far since its beginnings, becoming an industry leader in sports apparel and footwear.
Today, Adidas is one of the most recognizable sportswear brands in the world. Its products are available in over 160 countries, and its net sales have grown from €8 billion to €14 billion since 2020 (Lewis, 2023). From humble beginnings in 1924 to becoming one of the leading sports apparel manufacturers today, it’s clear that Adidas’ history is filled with remarkable milestones and achievements. Adidas has achieved several other accomplishments over the years. In 1987, it launched Adidas Equipment (EQT), a range of shoes and apparel that combined fashionable designs with modern performance technology.
Over the next decade, Adidas expanded its product portfolio to include soccer gear and lifestyle clothing for men and women. This was part of its efforts to reach a wider audience outside of sports and become a more global brand (Lewis, 2023). The company also expanded into international markets in the late 1990s. They opened their first store in China in 1997 and entered Japan shortly after (Lamare, 2021). By 2000, they had become one of the world’s top three sportswear makers alongside Nike and Puma (Lamare, 2021). Adidas’ success and growth for nearly a century is an inspiring example of how a brand can innovate and thrive in a highly competitive global market.
Adidas has stayed ahead of the competition by staying true to its roots in sports and constantly innovating new products. This includes their popular Boost technology, introduced in 2013 and still used in most of their running shoes. The company also strives for sustainability by using sustainable materials such as recycled polyester in some of its apparel (Lewis, 2023). With a long history of success, Adidas AG remains one of the leading sportswear manufacturers today, continually striving for innovation and excellence. Its commitment to quality, performance, and sustainability makes it a trusted brand worldwide.
Adidas Collaborations
Adidas is a global sportswear brand that has collaborated with many individuals and organizations, including musicians, athletes, and other celebrities. In 2020, Adidas was named the world’s most valuable sports apparel brand (Khan, 2020). The company has a variety of partnerships with both prominent and lesser-known figures. One of their most successful collaborations was with rapper Kanye West from 2013 to 2022. This partnership included everything from clothing lines to products such as sneakers. However, this collaboration ended abruptly when West made antisemitic remarks during his 2020 presidential campaign (Valinsky, 20222; Jenni Reid, 2022). Since then, Adidas has announced it will not renew its partnership with West.
Adidas has made a name for itself by collaborating with some of the most well-known names in music, fashion, and sports. From Kanye West to Pharrell Williams to Gigi Hadid, Adidas constantly collaborates with high-profile figures to help grow its brand recognition worldwide. Their partnership with the NBA was a significant win, as it was one of their first steps into global markets. Even more recently, they have allied themselves with The People’s Vote protest group – demonstrating that they value social justice and are working towards making a real difference in society. All these strategic partnerships have helped Adidas become what it is today – proving that getting creative and taking risks can pay off.
Adidas has also tapped into the influence of social media to form collaborations. The brand has partnered with significant influencers on platforms such as Instagram, Twitter, and YouTube to create content and expand its reach. In 2020, Adidas linked up with artist Travis Scott, who has an impressive fanbase on these platforms (Monteverde & McCollum, 2020). This collaboration allowed the company to tap into its massive fan base and promote its brand further. Moreover, in 2019, they launched Creator Club – a content platform that allows users to showcase creative projects featuring Adidas products (Khan, 2020). This marketing strategy is another example of how Adidas uses collaboration to grow its online presence.
Adidas is a forward-thinking company that always finds creative and unique ways to team up with significant figures, groups, and channels to expand its reach further. From Kanye West to Travis Scott, Adidas has successfully collaborated with some of the most influential people in the industry – strengthening its status as a leading sportswear brand. Such partnerships remain an integral part of Adidas’ future growth strategy. Since its establishment, Adidas has constantly been pioneering in the world of sportswear, and these successful collaborations have helped to raise its profile around the globe. As a result, it’s now one of the best-known brands on earth.
Vans
Origin of Vans Sneakers
The story of Vans sneakers began in 1966 with the Van Doren Rubber Company in Anaheim, California. Founded by brothers Paul and James Van Doren and partners Gordon Lee and Serge Delia, the company designed shoes that were stylish but also comfortable and durable (Stonebrook, 2021). The first style of the shoe released was called the Authentic – an upper canvas model with a vulcanized rubber sole that featured the now-iconic waffle grip pattern (Strong, 2022). The company’s success multiplied due to its focus on quality craftsmanship and unique silhouettes. As their popularity increased, so did their range of styles, from boat shoes to slip-ons to high-tops, all featuring the classic waffle grip sole (Strong, 2022).
Vans also began to partner with prominent skaters in the 70s and 80s, allowing them to become closely associated with skateboarding culture and lifestyle. The brand has continued to expand ever since, becoming a global leader in action sports apparel (Stonebrook, 2021). Today, Vans is an iconic and well-recognized brand that can be seen everywhere, from streetwear outlets to high fashion runways – a testament to the power of its timeless designs and commitment to quality.
Vans sneakers are beloved by people from all walks of life for their timeless designs and unbeatable quality. For over fifty years, Vans has been committed to creating shoes that look great and perform well in any activity—from skateboarding to everyday street style. Not only do these iconic shoes remain true to their roots, but they also offer something for everyone who appreciates style and comfort. Vans sneakers have become a symbol of self-expression, from limited edition collaborations with renowned artists, fashion designers, and athletes to original creations inspired by music and art movements worldwide.
With superior durability, heavy-duty waffle grip soles, and innovative materials being used season after season, it’s no wonder why these shoes have become essential in skateboarding culture and fashion. No matter the occasion, Vans sneakers will remain timeless classics for many years. They stay true to their classic designs and continue to innovate with new materials, features, and designs that appeal to customers from all backgrounds. From sports enthusiasts to everyday style-seekers, Vans sneakers promise lasting quality and effortless style.
Vans Sneakers Collaborations
Vans sneakers collaborations have become increasingly popular in recent years due to their ability to attract a broader range of customers. Several studies, such as Suseno and Hidayat (2021) and Suseno and Utami (2022), have suggested that local pride movements successfully create a strong brand image for Vans. This is especially true when the collaboration involves regional companies or figures. For example, Jokowi’s sneakers, in collaboration with Vans, used Indonesian national symbols as part of their design, which helped tap into Indonesia’s local pride movement (Suseno & Utami, 2022). Additionally, Muslim, Mubarok, and Wijaya’s (2020) study found that when brands use trusted local figures and references to promote their product, it creates a strong sense of brand image and trust for customers.
Vans’ collaborations with local companies and famous figures have been beneficial in helping the brand build a strong image amongst its customers. Collectors and sneakerheads flock to these exclusive releases, creating an urgency to purchase that creates a sense of exclusivity (Muslim, Mubarok & Wijaya, 2020). For example, Vans launched 11 pairs of their Tyler the Creator collaboration in Australia – resulting in massive hype around this exclusive release and increased brand loyalty (Suseno & Hidayat, 2021). Vans often holds special events to celebrate these unique designs, such as launch parties or art exhibitions for fans to interact with their favorite brands and figures (Suseno & Utami, 2022). With limited-edition releases and exciting events, Vans’ collaborations have created a strong customer brand image.
Sneaker Reselling Market
The sneaker reselling market has become influential in the worldwide retail sector. In 2020, sneaker reselling was estimated to be worth nearly $6 billion, with growth projected to reach $14.2 billion by 2025 (Ahuja, 2020). The secondary sneaker market offers customers access to rare and hard-to-find items they couldn’t purchase from primary retailers (Slaton & Pookulangara, 2021). The success of this industry can largely be attributed to its ability to capitalize on consumer desires for limited-edition and exclusive sneakers. This popularity has been propelled by celebrity endorsements, digital media campaigns, and increasing access to digital platforms for purchasing sneakers.
A significant trend within the sneaker resale market has been the emergence of collaborative consumption models. Slaton and Pookulangara (2021) have identified three distinct categories of collaborative consumption models in the sneaker resell market: self-service, facilitated services, and full-service. Self-service involves consumers engaging directly with each other through online platforms to buy or sell their sneakers. Facilitated services involve a third-party supporting consumer transaction, such as authentication services, to ensure product authenticity. Lastly, full-service models involve a third party taking care of all aspects of the transaction, from sourcing the merchandise to delivering it to the customer.
The success of collaborative consumption models has been driven by advances in technology and digital infrastructure, enabling faster, more efficient, and more secure methods for purchasing goods online. This makes it easier for customers to access rare items without the risks associated with fraud and counterfeiting. Furthermore, digital platforms have made it easier for customers to discover products, compare prices, and track market trends to make purchasing decisions.
The sneaker reselling industry shows no signs of dwindling and is predicted to continue its upward trend. Artificial intelligence software has emerged as a critical tool for sneaker resellers acquiring these high-value products in recent years. Through data collection and analysis of the primary retail market, AI software can identify the most profitable items and quickly purchase them (Breebaart, 2022). This has allowed resellers to purchase products faster than ever, often at discounted prices. AI technology has also enabled sneaker resellers to expand their businesses by selling items internationally and reaching new customers in different markets.
However, it is essential to note that not all sneaker resale transactions are through secondary markets. According to BoPing’s (2021) research, many buyers buy from primary retailers due to their concerns about authenticity, product quality, and customer service. To ensure long-term success in the sneaker resell industry, sellers must prioritize customer satisfaction and maintain high standards for product quality. Nonetheless, the sneaker reselling market has seen tremendous growth in recent years and shows no signs of slowing down anytime soon. With AI software helping optimize the resell process, sneaker resellers can access more opportunities than ever. To remain competitive, sellers must pay attention to customer needs and invest in quality assurance measures to deliver the best experience possible.
How to Get the Sneakers
The Brands Itself / Retail Stores / Partner Stores
Getting a pair of shoes for reselling requires an eye for detail, a good understanding of the market, and careful research. Understanding the options available is just the first step; getting them in hand is where things get tricky. There are several ways to acquire sneakers for reselling, including directly from the brands, retail stores, and partner stores (Kauppinen-Räisänen et al., 2020). Buying from the brand now is the most direct way to acquire sneakers for reselling. This route offers shoppers several advantages since it provides access to exclusive items unavailable elsewhere and allows customers to maximize profits by avoiding middleman costs (Bonfanti & Yfantidou, 2021). Typically, these purchases are made online; however, some stores may offer exceptional in-store experiences that give customers unique opportunities to purchase exclusive products.
Additionally, customers may have access to knowledgeable sales staff and personalized customer service (Kauppinen-Räisänen et al., 2020). Getting the right pair of shoes for reselling may require patience and dedication. Still, with the right resources and a keen eye, customers can maximize their profits and find exclusive items unavailable elsewhere.
Retail outlets can serve as valuable sources for obtaining sneakers intended for resale. Shopping at retail stores allows shoppers to personally inspect the product before buying and gain an understanding of the sneaker’s condition, which is especially important for those selling pre-used shoes. Retailers often host promotional events or discounts that give buyers additional incentives when purchasing items in-store (Bonfanti & Yfantidou, 2021). Furthermore, many retailers now offer digital payment options and personalized customer service, allowing customers an enjoyable in-store shopping experience while maximizing potential profits (Kauppinen-Räisänen et al., 2020).
Finally, partner stores are another great way to acquire sneakers for reselling. Exclusive products that cannot be purchased directly from the brand or retail store are often available through partner stores (Denny, 2020). In addition, partner stores may offer added incentives such as free shipping or discounts for bulk purchases. Partner stores also often organize special events where customers can try on footwear before purchasing or access limited-edition releases that are not available elsewhere (Bonfanti & Yfantidou, 2021). Retail stores, digital payment options, personalized customer service, and partner stores are great resources for finding sneakers to resell at a profit.
Ultimately, there are several ways to acquire sneakers for reselling, each offering unique advantages. Buying directly from the brand itself provides access to exclusive products and personalized customer service. Shopping at retail stores allows buyers to personally inspect the product before purchasing and take advantage of promotional events or discounts. Lastly, partner stores provide exclusive products and often host special events where shoppers can try on shoes before buying or picking up limited-edition items unavailable elsewhere (Denny, 2020). The best option ultimately depends on the type of sneakers the buyer wants and how much they are willing to spend.
“Second-Hand” Market
The second-hand sneaker market is an increasingly popular alternative to buying directly from a brand or retailer. Cantista, Delille, and Sousa’s article on Sellpy (2022) reported that the global resale market size was estimated to be US$35 billion in 2019, with projections of almost double by 2023. Consumers have found second-hand markets beneficial because they often offer more personalized services and lower prices than retail stores (Dolbec & Parmentier, 1970).
For resellers looking to acquire sneakers for reselling purposes, the second-hand market offers a unique opportunity to get shoes unavailable elsewhere. Sellers can find sneakers for reselling through second-hand marketplaces such as Craigslist, eBay, and Poshmark. These platforms provide sellers access to a wide range of products from various locations worldwide (Ssekikubo, 2020). Buyers can browse listings by brand, size, or condition and purchase sneakers directly from individual sellers without paying expensive shipping fees. Furthermore, many online platforms offer buyer protection programs, providing buyers with peace of mind when purchasing items from an unknown source.
When acquiring sneakers through second-hand markets, shoppers should consider a few essential factors. It is vital to research the seller’s reputation before making any purchases. Buyers should also thoroughly check the product description, including examining pictures and comparing sizes.
Additionally, buyers should ensure they are dealing with secure payment methods when purchasing items from an unfamiliar source. Resellers who want access to exclusive sneakers for reselling purposes can make use of sneaker events hosted by second-hand marketplaces or affiliated stores. These events often feature limited edition shoes from popular brands and allow potential buyers to try on shoes before buying them (Denny, 2020). Such events can be a great way for resellers to acquire rare items unavailable elsewhere.
The second-hand sneaker market offers a unique opportunity for resellers looking to acquire exclusive sneakers at lower prices. By researching the seller’s reputation and carefully examining product descriptions, buyers can ensure they get the best deals while protecting themselves from scams or frauds. Furthermore, taking advantage of sneaker events hosted by second-hand marketplaces or partner stores can give buyers access to rare products unavailable elsewhere. With these tips in mind, shoppers should have no difficulty finding the perfect pair of sneakers at an unbeatable price.
Botting
One way for resellers to acquire sneakers is through botting. Botting, or automated purchasing, enables buyers to quickly and efficiently purchase limited-edition products using software that interacts with a retailer’s website (Bakker, 2022). This system allows users to bypass waiting queues and automatically add the item to their cart without manual input (Hout, 2022). Botting can be incredibly useful for resellers seeking exclusive sneakers as it ensures they have the best chances of securing them before anyone else does.
Another advantage of botting is that it significantly reduces the risk of getting scammed. By using bots programmed with specific instructions, buyers can ensure transactions occur securely and quickly (Smith, 2022). Furthermore, advanced bots can use artificial intelligence to determine the best time to purchase and even recognize when a website is experiencing technical difficulties.
To get the most out of botting, resellers should research the best bots for their needs. Some bots are designed for specific websites or retailers, while others can be used for multiple sites (Bakker, 2022). Resellers should also pay attention to each bot’s features to ensure they have access to all the tools necessary for successful purchases. Furthermore, learning about different strategies and techniques that could help increase success rates when using a botting service is essential.
Buyers should use safety precautions when using bots, such as creating a separate account specifically for automated purchases and using anti-bot detection software. These measures will protect users from any potential risks associated with botting and ensure their purchases are successful (Hout, 2022). Nonetheless, botting can be an effective way for resellers to acquire exclusive sneakers without going through the hassle of manual checkout processes. By using automated systems that are secure and efficient, buyers can increase their chances of securing limited-edition products before anyone else does – granting them a unique opportunity to resell rare footwear at higher prices.
“Backdoor”
Backdoor purchases are becoming increasingly popular for resellers to acquire limited-edition sneakers. This method involves purchasing directly from the brand instead of going through a retailer (Giesen, 2022). There are several ways to make a backdoor purchase – such as attending special events hosted by the brand or joining their mailing list to be alerted when new releases become available. Resellers need to take the time to build a relationship with the brand if they want to increase their chances of success when attempting a backdoor purchase. This can be done by engaging in conversations on social media and leaving positive reviews after purchasing products from them (Choi & Kim, 2019). Doing so demonstrates loyalty and may lead to early access or exclusive offers.
Resellers should consider joining dedicated communities where they can share knowledge and resources with other like-minded individuals (Giesen, 2022). This provides an opportunity to learn about upcoming releases and any potential backdoor offers the brand may offer. Furthermore, staying updated on the news surrounding the sneaker industry is critical to capitalize on these opportunities when they arise. It is also essential for resellers to remember that acquiring a pair of sneakers through a backdoor purchase should not be taken lightly. Since this method involves dealing directly with the brand, buyers must adhere to all terms set out to protect themselves from being banned or blocked (Choi & Kim, 2019). Taking the proper precautions and being informed is vital to successfully purchasing a backdoor.
Platforms for Selling
Stock X
Over the past few years, StockX has made its mark in the sneaker resale culture, enabling people to purchase and sell popular items at competitive prices. Referred to as the ‘stock market of things’ (Raditya et al., 2021), StockX is a significant player in global resale, offering rare and limited-edition shoes and apparel deals. On this platform, buyers can bid for products in an auction-style process, while sellers can list their items for a fixed cost or accept the highest bid.
StockX verifies all of its items to guarantee customers receive genuine goods before they are dispatched (Matthews et al., 2021). This ensures that purchasers won’t be disappointed with their purchases. StockX provides detailed price analytics on sneakers and apparel so customers can invest wisely. On top of that, its user-friendly interface makes navigating the website a breeze. StockX is an excellent choice for sneakerheads and resellers alike.
StockX is a great platform for purchasing and selling sneakers. However, there are some downsides to using the site. Reports suggest that prices can become inflated with their rising popularity due to increased demand (Slaton & Pookulangara, 2021). Additionally, StockX does not offer any guarantee on purchases, which could make buyers susceptible to potential risks. Before using this platform, buyers must understand these limitations and know what they may face when purchasing from StockX. They must research before committing to get the best deal possible and minimize any associated risk. Ultimately, StockX is an excellent platform as buyers are aware of its limitations and take appropriate precautions.
Despite these limitations, StockX remains a great platform for purchasing and selling sneakers. It provides buyers with an array of options without compromising on quality while also enabling them to track prices in real time. With its detailed price analytics, savvy buyers can make informed decisions and maximize their profits if they buy to resell. Furthermore, the site’s user-friendly interface ensures that users can easily navigate the website and quickly find what they need. StockX is undoubtedly one of the best platforms for buying limited-edition shoes and apparel in the resale market.
Thus, before using StockX, buyers should know its limitations and take the necessary precautions. Researching prices thoroughly is essential to get the best deals possible and minimize risks associated with using this platform. By doing so, customers can ensure they will have a safe and enjoyable shopping experience on StockX. Ultimately, it’s an excellent platform for buying rare items at competitive prices while creating a secure environment for sellers alike. With all these features combined, StockX is a revolutionary way of trading sneakers and apparel in today’s resale culture.
Restocks
Restocks is a widely used platform for trading in sneakers and exclusive clothing. Its “alerts” feature notifies users when new items become available, allowing them to purchase products before they sell out (Backs et al., 2020). Additionally, Restocks’ mobile app makes it easy to access the website on the go. Whether you’re looking for hard-to-find pieces unavailable in stores or planning to resell your goods – Restocks will help buyers and sellers alike. However, customer trust is essential for successful transactions without fraud, so Restocks relies on ratings and reviews to build confidence (Musana & Basaza-Ejiri, 2020). Moreover, buyers can add an extra layer of protection by using third-party payment processors like PayPal or Apple Pay to process payments.
The Restocks platform provides a secure, effective way for buyers and sellers to conduct transactions for reselling sneakers and other limited-edition clothing items. It is an excellent example of how technology can help create a unique subculture around reselling and bring people together over a shared interest in fashion, sport, and music. The platform has successfully built trust between buyers and sellers, thus making it a popular choice for those looking to buy or resell rare items (Musana & Basaza-Ejiri, 2020). In addition, the mobile app makes it easier to find and purchase these items in minutes.
Restocks is an extreme example of how tech-driven solutions can benefit a subculture centered around reselling. It provides a secure and efficient platform for buyers and sellers to transact confidently, thereby playing an essential role in the growth of this culture. Moreover, its mobile app makes it easier to discover rare items and resell them to others (Musana & Basaza-Ejiri, 2020). Restocks shows how technology is continuously evolving our understanding of the reselling industry. It provides a reliable way for buyers and sellers to make purchases with added security against fraudulent activity.
eBay
eBay is a highly popular online marketplace where users can buy and sell various products. Established in 1995, it has since become a leader in the second-hand market. According to Altaweel and Hadjitofi (2020), eBay provides buyers and sellers worldwide with items like antiques and limited-edition sneakers. The platform also includes feedback mechanisms such as ratings and reviews, which have been found to influence sellers’ decisions (Dib et al., 2019). Additionally, collectors benefit from eBay’s ability to locate rare items unavailable on other sites (Lee et al., 2021). In conclusion, eBay allows buyers and sellers to conveniently conduct their transactions – making it one of the go-to sites for second-hand reselling.
eBay is a robust platform for resellers, providing buyers and sellers with an effortless way to buy and advertise products. Wirtz et al. (2019) found that eBay is the most utilized platform among consumers when it comes to selling goods, highlighting its high degree of activity between buyers and vendors. This could be due to the vast selection of items on the website and its ability to expedite transactions efficiently.
For reselling, eBay is a pivotal tool; it gives customers a fast way to purchase items while sellers can easily promote their merchandise. Additionally, feedback systems provide users with reliable information regarding product quality, making eBay an appealing choice for consumers. Therefore, eBay remains crucial in the secondary market, facilitating transactions and giving buyers and vendors a dependable platform.
Facebook and Instagram Groups
With the growth of Facebook and Instagram groups, reselling has become easier to access. Joining an established group or creating your own is simple on these websites (Rangaswamy et al., 2020) – allowing you to trade locally or globally. As almost everyone uses these two sites, it’s easier for sellers to reach buyers and handle their sales (Ens et al., 2023). Plus, products can be featured in various ways – increasing your audience size (Lefouili & Madio, 2022). With integrated payment systems, transactions are secure for both buyer and seller because companies manage the platform – making it more straightforward to regulate what gets sold and monitor any potential fraudulent activity.
The use of Facebook and Instagram as a platform for reselling provides many advantages, including their capability to reach an extensive array of people. These platforms have been successful in effectively engaging customers and providing sellers with the opportunity to increase sales (Rangaswamy et al., 2020). Additionally, they offer a range of features that allow sellers to manage sales operations more efficiently and further enhance customer experience. For instance, the Facebook Marketplace offers users a simple way to post products free of charge (Ens et al., 2023). Plus, it provides rating systems that help buyers trust the seller’s reputation. Moreover, these websites provide direct communication between buyers and sellers (Lefouili & Madio, 2022), making it convenient to locate and purchase items, creating a beneficial user experience overall.
Facebook and Instagram offer convenience to sellers while they aim to reach a wide range of customers. They provide useful tools that can be used to manage sales activities and increase trust with potential buyers (Emmanuel et al., 2022). Despite some advantages these platforms possess, there are also apparent drawbacks that should not be overlooked. For instance, these require additional specialized features from experienced resellers to be tailored according to their needs (Rangaswamy et al., 2020). Additionally, due to its reliance on users actively engaging with it, this may not always be suitable for everybody (Ens et al., 2023). Lastly, although Facebook and Instagram have secure payment systems in place, the ultimate responsibility lies on the user to ensure that payments are processed safely. Overall, Facebook and Instagram groups have become popular platforms for reselling, and they have contributed extensively to the thriving community of fashion and sneaker sellers.
A Store/ E-Shop
Opening a store or an e-shop is a great platform for reselling, as it allows entrepreneurs to reach various customers and gain exposure to their products. It eliminates the need for intermediaries, allowing sellers to profit more from each sale. It also enables them to track stock levels better and easily replenish inventory when needed. Additionally, an online store offers more convenience to customers. It allows more personalization in product selection, payment methods, and delivery times, which can greatly influence customer satisfaction (Attar et al., 2022). An online store can also help sellers better understand their customer preferences and test and implement changes on their website to optimize customer experience (Mofokeng, 2021).
An online store can help sellers save costs on marketing campaigns due to lower advertising expenses and improved product visibility (Wang et al., 2022). Furthermore, it enables sellers to gain valuable insights into customer behavior and preferences through analytics tools (Li et al., 2021). Finally, an online store also enables sellers to develop better customer relationships, improving loyalty and repeat purchases.
Opening a store or e-shop is an effective platform for reselling, as it offers several opportunities to entrepreneurs and customers alike. According to Tang et al., 2021, the success of an online store depends on several factors, such as ease of use, customization options, and product selection. Designing a user-friendly website is key to increasing customer satisfaction and loyalty (Mofokeng, 2021). Furthermore, entrepreneurs must thoroughly understand their customers’ preferences to properly personalize their product selection and website design (Li et al., 2021). Additionally, successful stores often offer good customer service, timely delivery, and attractive discounts to keep customers returning (Attar et al., 2022). Entrepreneurs should consider all these aspects when opening a store or e-shop as a platform for reselling.
Consignment in E-Shops/Stores
Consignment in online stores and shops is becoming an increasingly popular avenue for reselling. Acquier et al. (2019) reported that with this transfer form, the seller maintains ownership over their items while still earning a profit. This model has become increasingly desirable due to its low costs, flexibility, and ability to reach a wider customer base. Liu et al. (2022) believe that consignment allows retailers to reduce inventory costs, increase market efficiency, and explore new business models.
Furthermore, Yrjölä et al. (2021) posit that customers benefit from having more options regarding price, quality, and availability when shopping through consignment stores. Blockchain technology can also be applied to consignment, as per the findings of Shen et al. (2020). This will increase traceability, transparency, and trust in the marketplace, guaranteeing that items are genuine and sellers get paid appropriately.
However, Alaei et al. (2022) suggest that an effective return policy is key for a successful sale through this platform. This should ensure buyers have access to easy returns or exchanges while being knowledgeable about their options. With proper management and consideration of potential issues, consignment stores provide a beneficial avenue for reselling that can be further improved through blockchain technology and return policies.
On the other hand, the potential advantages of consignment in e-shops or stores have their challenges. Alaei et al. (2022) suggest that certain challenges can be associated with it, such as conflicts between the retailer and reseller over pricing, commission rates, and return policies that should be addressed. Additionally, sellers may have difficulty controlling prices as items could be sold at a lower cost than expected (Yrjölä et al., 2021). Furthermore, reclaiming inventory after it has been purchased and shipped is another issue to consider when assessing the pros and cons of this platform for reselling. Consignment in e-shops/stores is an effective system for selling products online; however, it is important to consider the potential problems associated with pricing and reclaiming inventory before taking advantage of its benefits. Implementing return policies and blockchain technology can be useful options to make it more efficient.
Overview of Platforms Used for Reselling
The emergence of online marketplaces, such as eBay, StockX, E-stores, and Restocks, has enabled the reselling market to witness tremendous growth in recent years. Buyers and sellers from all across the globe flock to these platforms, which offer a vast range of products for research. For instance, initially designed for auctioning goods and services, eBay has become one of the world’s go-to online stores. Similarly, Etsy offers space for handmade or vintage items, while Grailed and StockX are havens for luxury items like designer clothes and limited-edition sneakers (Rietveld & Schilling, 2020). The digitization of the shopping experience also opened doors for specialized platforms like Depop and Poshmark that cater to niche markets (Zhao et al., 2020). This has helped the exponential growth of the reselling industry and created new avenues of opportunities for buyers and sellers alike.
Reselling platforms have become increasingly popular for buyers and sellers to connect and do business. They offer a range of features that make them attractive compared to traditional marketplaces, such as pre-owned goods and lower fees, resulting in higher profit margins (Rietveld & Schilling, 2020). Moreover, many platforms leverage social networks or communities to boost engagement and bring customers together. This creates an environment that is beneficial to sellers and buyers alike. The recent surge in the popularity of reselling platforms can be attributed to their ability to appeal to niche markets by providing specialized services (Zhao et al., 2020). It is clear that they play an important role in the reselling sector, one which will only continue to grow as more people join the culture.
Resellers have become increasingly important in fashion, with vintage items and second-hand clothing becoming more popular than ever. Resellers are now becoming influencers in their own right, creating exclusive content on platforms such as Instagram and YouTube, showcasing their unique styles. The emergence of social media has made it easier for resellers to market themselves and their products, allowing them to reach a broader customer base (Rietveld & Schilling, 2020). The potential of the reselling industry is evidenced by its projected growth over the next few years. Global online sales in the resale space are expected to exceed $64 billion by 2024 (Zhao et al., 2020). This indicates a steady increase in demand for pre-owned goods and shows that the reselling sector will continue to thrive.
The market is witnessing an ongoing revolution thanks to the emergence of digital resellers. With access to more products and services, buyers have more choices, and sellers can reach new customers quickly and easily. Social media has empowered resellers to become influencers in their own right, creating engaging content that continues to drive industry growth. It is clear that reselling platforms are here to stay and will remain an integral part of our shopping experience for years.
Methodology
The methodology is a vital part of research and can be used to collect data to answer questions and gain insight into the subject matter. Primary research approaches, including qualitative interviews, quantitative surveys, focus groups, and online data mining and analysis can be employed to research sneaker reselling. Secondary research methods, such as synthesizing existing resources and databases, are also useful for understanding sneaker reselling from an outside perspective.
Primary Research Methods
Qualitative Interviews
Qualitative interviews can be a powerful tool for gathering information and gaining insight into research questions. In this paper, qualitative interviews will be used to investigate sneaker reselling and the approaches used by buyers and sellers in this marketplace. Qualitative interviewing is “Any face-to-face or computer-mediated method of communication where a researcher seeks to elicit detailed accounts of participants’ perceptions, experiences, or opinions about some phenomena or event” (Nathan et al., 2019, p.4). Researchers can understand individuals’ subjective viewpoints on various topics through these interviews.
This research project could also employ hybrid card sorting within qualitative interviews. Conrad and Tucker (2019, p.2) define hybrid card sorting as “a method for exploring individuals’ beliefs and attitudes about a given topic through both open-ended questions and predefined choice cards.” This approach combines traditional free-response interviews with structured elements, providing researchers with rich data that can be reliably analyzed. In this study, hybrid card sorting within qualitative interviews would allow researchers to compare participants’ perspectives on sneaker reselling and understand the underlying trends in their responses.
Qualitative interviewing will also enable researchers to gain a deeper understanding of the motivations and values that underlie sneaker reselling. Through interviews, researchers can ask why people buy or sell sneakers and their strategies when engaging in this activity. By gathering personal accounts from participants, researchers can understand the cultural, economic, and social issues that shape peoples’ decisions regarding sneaker reselling. Additionally, qualitative interviewing allows for follow-up questions, which can be used to probe further into certain topics and issues that may arise during the interview (Nathan et al., 2019). This type of inquiry gives researchers a more comprehensive view of various aspects of sneaker reselling.
Qualitative interviews can provide incredibly valuable insights into the various strategies employed in sneaker reselling. By combining standard free-response questioning with interactive card sorting, researchers can obtain accurate data to explore individual perspectives and underlying trends in the sector. With this information, they can better understand the reasons behind such activities and how different aspects affect the sneaker resale market.
Quantitative Surveys and Focus Groups
This research study will employ quantitative surveys and focus groups to examine sneaker resellers’ attitudes. Quantitative surveys are a data collection method used to gather structured information from survey respondents to measure opinions, perceptions, and behaviors (Creswell & Hirose, 2019). The survey instrument typically consists of closed-ended questions with predetermined responses such as yes/no or multiple-choice answers. Surveys can help researchers identify participant behavior trends by obtaining large amounts of data that can be easily analyzed and generalized (Espadoto et al., 2021). The data gathered from this research study will help understand sneaker resellers’ attitudes better and inform future marketing strategies in the sneaker industry.
Focus groups are an effective approach to gathering qualitative data from small groups of participants. This method enables the researcher to understand better their attitudes, beliefs, and behavior regarding sensitive topics such as sneaker reselling (Creswell & Hirose, 2019). Quantitative surveys provide an overview of the general population, while focus groups enable a deeper exploration of participants’ thought processes, emotions, and behaviors about the topic. Using both data collection methods simultaneously will make obtaining comprehensive results on this research topic possible.
Online Data Mining and Analysis
Online data mining and analysis is an important tool used in conducting research. It involves extracting useful data from many data sources, such as educational records or online commerce websites (Su, 2019). This data can then be analyzed to answer specific research questions. In terms of its use in sneaker reselling, Online Data Mining and Analysis can help identify trends in the market by tracking information on sales volume, demographic information of buyers, and other factors that influence the success of a product launch (Salloum et al., 1970). Additionally, it can be used to analyze pricing patterns among different resellers and compare them against competitors’ prices. Doing so allows researchers to gain insight into what pricing strategies are more effective in driving sales.
Data mining can help identify how the launch of a new sneaker model affected sales in different geographic locations. It could also analyze how changes in prices and availability influence consumer demand. Furthermore, it can provide information on which types of buyers prefer certain features or colors over others, allowing researchers to understand better the audience they are targeting and how to design their marketing campaigns accordingly (Su, 2019). Online Data Mining and Analysis can also detect anomalies in the data. Anomalies are patterns or events that don’t follow the expected behavior.
Online data mining and analysis can be a powerful tool for discovering potential issues with reselling sneakers. Analyzing sales data may identify unusual spikes that could point to fraudulent activity or an uptick in interest in certain types of shoes (Salloum et al., 1970). This information allows researchers to take proactive steps to stop problems before starting and keep their businesses healthy. Using these techniques, researchers gain valuable insight into the sneaker reselling market to make more informed decisions about pricing and marketing strategies. This knowledge is essential for optimizing the success of a business in this competitive market.
Secondary Research Methods
Synthesis of Existing Resources & Databases
Synthesis of existing resources and databases is the practice of combining information from multiple sources to form a cohesive, comprehensive understanding of a subject. This study on sneaker reselling will incorporate a synthesis of existing resources and databases to create an overview of current trends in the industry by combining insights from scholarly literature with data collected from existing databases. The Open Ventilator Evaluation Framework (Kazlovich et al., 2022) is a great example of how synthesizing resources and databases can be useful in research. The authors combined regulatory requirements, technical standards, and other relevant information to gain an overall understanding of emergency use ventilators in Australia, Canada, the UK, and the US.
Similarly, in this research on sneaker reselling, the synthesis of existing resources and databases can be used to generate comprehensive findings. Synthesizing resources and databases is an important step when conducting a Systematic Literature Review (SLR), as outlined by Kraus et al. (2020). The authors suggest that SLRs use primary and secondary sources, such as scholarly articles and existing databases. This approach helps researchers gain a more well-rounded understanding of the topic they are exploring.
Synthesis of existing resources and databases will hugely benefit this research on sneaker reselling. By combining scholarly literature and data from existing databases, researchers will gain a comprehensive understanding of the current trends in the industry. In addition, synthesizing resources and databases can help identify patterns or trends within the data, providing further insight into their subject area. The synthesis of existing resources and databases will help researchers maximize the quality and accuracy of their findings. Ultimately, this helps ensure that the research results are valid and reliable. Therefore, the synthesis of existing resources and databases is invaluable for any researcher hoping to explore a subject in-depth and accurately.
Conclusion
Sneaker reselling has become a booming business in the past decade. It has given rise to a distinctive subculture with influences from fashion, sports, and music that appeals to collectors and entrepreneurs alike. The rapid growth of this industry is evidenced by its large market size and high-ticket items, which often reach millions of dollars in the secondary market.
Through understanding the history of reselling, factors that make certain brands so popular, how to acquire sneakers for resale purposes, platforms available for reselling, and what steps need to be taken when selling sneakers as a reseller, readers should now have a comprehensive overview of the sneaker resale market. This industry will likely grow further as consumers continue demonstrating interest in exclusive products like limited-edition sneakers. Future research should focus on the impact of reselling on the fashion industry, emerging trends in sneaker culture, and ethical considerations for resellers. Understanding the complexities of sneaker reselling will help readers gain valuable insight into modern consumer culture and better prepare them for success in this field.
With the rise of sneaker reselling, now is an opportune time for entrepreneurs and collectors alike to consider entering this market. With some research and planning, it’s possible to make money by buying, selling, or trading sneakers online or in person. It’s important to stay up-to-date on changing trends in both fashion and business when engaging in reselling activities. Aspiring resellers need to remember that they are relying on their reputation as buyers and sellers; thus, it is essential to maintain trustworthy relationships with customers by being transparent about product availability and staying committed to delivering quality service. Consumers who take the initiative to understand all aspects of sneaker reselling will be well-positioned for success in today’s ever-evolving footwear market.
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