Blog Post

What To Know About Sneaker Reselling In 2023

October 20, 2023

Sneaker culture has come a long way from just being about owning comfortable footwear for sports or casual outings. Over the past decades, sneakers have been elevated from simple athletic wear to coveted collectable items and vital components of urban fashion. There was a time when sneaker reselling was a goldmine, with certain pairs fetching returns that would make stock market traders envious. Fast forward to 2023 however, and the landscape has evolved. While the heydays of exponential returns might be over, sneaker reselling remains an avenue for profit if navigated with finesse and insight.

The Current Landscape

First things first, it’s essential to acknowledge the shifts in the market. The sneaker reselling frenzy of the mid to late 2010s was characterized by rapid releases, limited editions, and collaborations that had fans camping outside stores or battling internet traffic. The exclusivity and hype drove prices up in the secondary market.

However, by 2023, a combination of factors — market saturation, increased production of ‘limited edition’ sneakers, and an evolution in consumer preferences — has caused a slight cool down. But this isn’t necessarily bad news. While the outrageous mark-ups have diminished somewhat, a more stable and mature market has emerged, with opportunities for those who understand its intricacies.

Identifying Profit

With the relative decline of huge profit margins, it’s essential to be more discerning in your choices. Here are two types of sneakers to look out for in 2023. Of course, even at the peak of sneaker reselling these were popular and continue to be so.

Collaborations and Celebrity Endorsements: While the market may have evolved, the allure of celebrity collaborations remains strong. Think of posthumous releases honouring iconic figures or partnerships with influential artists or designers. These sneakers often have a story, and an emotional connection, which can drive demand.

Nostalgia: There’s arguably been a significant trend of retro releases or sneakers that harken back to a particular era. The sentimentality attached to these pairs can make them a hot commodity.

The Rise of Niche Footwear: The Crocs Phenomenon

When talking about sneaker reselling, it’s easy to focus solely on high-end, brand-name athletic shoes. Yet, in the ever-changing landscape of fashion, sometimes the most unexpected players rise to the forefront, offering unique reselling opportunities. A case in point of this can be seen with Crocs, a brand that, for many, was synonymous with comfort over style. But the tables have turned, and in recent years, this once-mocked footwear has transformed into a profitable niche in the reselling market.

Crocs, with their signature clog design, have always been polarizing. Some laud them for their comfort, while others have kept a safe distance due to their distinct, sometimes derided, aesthetic. However, things started to change when celebrities and fashion influencers began embracing and endorsing them. Collaborations with high-profile names such as Post Malone, Justin Bieber, and even luxury fashion brands like Balenciaga catapulted Crocs into the limelight.

These collaborations often bring unique designs, limited edition colourways, and even unexpected features that create significant buzz and demand. Such limited edition Crocs releases can sell out within minutes, and their resale values can be several times the retail price. For example, the recent Mater-themed Crocs released in collaboration with Disney and Pixar resold for over a 100% return on investment.

Additionally, the rise of Crocs can be attributed to broader fashion trends leaning towards comfort, authenticity, and individual expression. Customization, with the brand’s Jibbitz charms, allows wearers to personalize their Crocs, making them not just a shoe but an expression of one’s personality.

For resellers, the Crocs phenomenon underscores the importance of staying versatile and open-minded. Sneakers will always have their place in the reselling world, but as the Crocs trend demonstrates, there are other lucrative opportunities in the broader footwear market.

Diversifying Sales Platforms

Gone are the days when there was one primary platform for sneaker reselling. In 2023, a plethora of platforms cater to sneaker enthusiasts and resellers alike.

Dedicated Apps: Platforms like StockX or GOAT provide a marketplace tailored for sneakers, complete with authentication services to ensure the legitimacy of transactions.

Social Media: With features like shoppable posts and the rise of community-focused groups, platforms like Instagram and Facebook have become viable avenues for sneaker reselling.

Pop-Up Events and Sneaker Conventions: These events, which are akin to comic cons for sneakerheads, allow sellers to reach dedicated audiences and often fetch higher prices due to the event’s exclusivity.

If you would like to be able to list your items on all these platforms at once then you should check out the Juiced app. We offer the latest information on the most profitable releases as well as cross-listing and inventory management tools. Download now by clicking here!