Rising Sneaker Resales During Coronavirus Outbreak
The world is in a lockdown as of this moment.
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Students, employees, and even big businesses are in utter dismay as to what is taking place as of this moment.
We as humans require certain predictability in our lives. Unfortunately, that has been taken away from us by the Covid-19.
The spread of coronavirus was inevitable once it came into existence. As Bill Gates notably said in his TED presentation a couple of years ago, the world isn’t ready for a pandemic.
And boy has he been proven right. I’m sure, even he, in this case, wanted to be proven wrong.
So while the entire world is focusing its efforts into helping the vulnerable, we are wondering what implications does this have on the sneaker market.
Surely, the market must be going through a turbulent time right?
The Jordan brand has delayed the release of some of its most expected sneakers. Although they haven’t commented regarding what was the reason behind it, I’m sure we all know why. Even the highly anticipated Jordan X Dior had been delayed.
However, from the data that we have seen and analyzed, we don’t see any cause of concern.
In mid March 2020, sales are increasing, the price premiums are rising, and the resale value is going higher.
We don’t know the cause but we sure know that it’s beneficial for us.
So the question that is arising from our subscribers is whether or not this is a good time to enter the market of sneaker reselling. Well, let’s see what the data tells us.
But before you scroll down, make sure you’ve followed us on Instagram to remain up-to-date with the latest drops.
(The following numerical data has been taken from StockX.)
(Our main performance indicators are sales and price premiums, these both variables speak to the consumer behavior and buying decisions–this is not direct investment advice but rather our opinion. )
Let’s start with a timeline. So according to Aljazeera news, China reportedly informed WHO regarding the virus on December 31st 2019.
On December 14th 2019, the Jordan 11 Retro Playoffs Bred were released. Their total number of sales (on StockX) have been 54,888. And the interesting part is that the majority of their sales occurred during the coronavirus outbreak, with sales averaging at 300 pairs per day.
The Nike Air Max 1 City pack which features two renditions of the Air Max 1 – London and Amsterdam was released on 19th March 2020. Now there would be a cause of concern if the sales had been low because this was a highly anticipated drop.
However, the sneakerheads came through and the sales of the Air Max 1 – London averaged 300/day as well. There have been a total of 709 sales of this shoe in only a three-day period and that too on a resale website. It has a price premium of 57% which means that the market is doing well.
The Air Max 1 Amsterdam has also been performing pretty solid with a price premium of 100% – the shoe is being resold at an average of $310. Moreover, the sales of the shoe average at 320 per day.
The Nike LD Waffle Sacai White Nylon featured on the market on 10th March for $160. It is performing pretty well at the moment. Its average resale value is $300. Moreover, since it debuted on StockX on 4th March, it has had 5970 sales till today.
On the day it debuted on StockX, it was resold 840 times. That’s a good indicator of how to market is performing even during the pandemic.
Now moving on to the Louis Vuitton Don’s creations. How has been Yeezy doing? After all, it has been dropping like crazy over the past couple of months. Moreover, the performance of Yeezy is usually a good indicator of how well the market is generally doing.
Why, you ask? Well because Yeezy has one of the greatest hype and fan following. Therefore, if Yeezy faces a general decline in sales we could assume that the resale market is turning bearish.
Yeezy released its V2 Cinder on 21st March i.e. the date on which this article is being written. StockX has already resold the item 2850 times. Damn. It peaked at 565 sales on 7th March after which it averaged at around 400 sales per day till 15th March, and then finally declined to 300 sales per day as it approached the release date.
Another Yeezy release on 14th March – The V2 Desert Sage has also been going solid. It currently is being resold at an average of $275 after being retailed at $220. Let’s talk about how the sales have been performing on the resale market.
The V2 Desert Sage has had 8112 resales on StockX so far. On average it was being resold almost 400 times a day.
In my experience and opinion, given the number of resales and the resale value of each shoe featured above, it is safe to say that the resale market is rock solid. It just goes to show that sneakerheads do not care about anything when there is a new drop.
Therefore, for those of you wondering whether it’s the right time or not to enter the sneaker resale market, trust me this is an opportunity you don’t want to miss out on. A lot of rookies will have backed out by now, creating space for new entrants such as yourself.
Therefore, don’t think too much. Just make the move. And to help you make your first sale, sign up below to receive tips from our Hypemaster Playbook – the A-Z guide of sneaker reselling community.
Till next time.