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Billion Dollar Resale Market

Francisco Franco

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Sneaker Resale

By: Francisco Franco

Sneaker resale consists of buying shoes for retail price, and selling them for more once they have sold out in stores. The Financial Times reported that the sneaker resale market has reached an estimated $1 billion in sales.

Sneaker resale has caused the sneaker culture to be diminished.

Although some believe the resale market is a step in turning  your passion into a business, it is very unlikely to become a business because everyone has the ability to be a reseller.

In business there must be a balance of product and demand. In the resale market there is an inconsistency of these two. Sometimes people want sneakers and sometimes people don’t. It also depends on your competition in the resale market. Since it is easy to get into sneaker reselling, many people are apart of the market, which means more  have the same product as you.

This means you have to have the best price to make the sale. With sales like these,  profit is always not high. For example, if a sneaker retails for $140 and the rest of resale markets price is $170, you have to sell it at $160 to make the sale, which will only be a $20 profit.

Sneaker resale also has had problems with violence in the market. There has been several events regarding murder for shoes.The famous rapper J Cole sings “They killin n****s for J’s, that’s death over designer.” He is referring to  Michael Thomas, 15, who was killed for his Jordans and left barefoot in the forest. It is clear that there are dangers in this market.

Finally, the sneaker culture has been lost due to resale. It went from buying and having the hottest and freshest kicks on your feet to seeing what shoe will give you the most profit. It went from networking to buy the coolest sneakers to hacking websites to buy overhyped sneakers.  The focus has turned to dollar signs over passion for sneakers.

From overhyped sneakers to murder, the $1 billion dollar resale market has destroyed the sneaker culture.

Hopefully, true passion for sneakers will develop once again. We must realize the important impact sneakers have on fashion. We should focus on what looks the best and not the potential profits.

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Student news site of Phoenix Military Academy in Chicago, IL
Billion Dollar Resale Market