From long term sneaker investments to launch day store chaos, we explore the rise of the ever growing streetwear resale market.
As the streetwear market is forever changing and evolving in different ways, there are people who can now make a lot of money by doing what they enjoy the most. The streetwear resale market has enjoyed a huge rise in popularity as people look to get their hands on the most elusive items available, whether that be for wearing or selling. However what are the implications of this new secondary market and culture being worth so much money?
Most established brands if not all of them will have ‘exclusive’ releases these days. Lines of people queuing up from dawn till dusk for a chance to own something that only a handful will ever get the chance to buy. You can split these people into two groups; aficionados and business minded people. If you don’t think that business minded is an apt description, the resale market for sneakers alone, that is worth over $1 billion worldwide, might make you think twice. If you had the chance to buy a pair of sneakers for £200 knowing that you could triple or quadruple your money for them as if often the case, would you take it?
Brands such as Supreme, Stone Island, OFF-WHITE, Nike, adidas, Palace Skateboards, Yeezy and BAPE among others have become masters of the exclusive release and sell out within minutes of going on sale. Worldwide brands such as Nike and Adidas have collaborated on a lot of exclusive releases once they knew how big the demand was. Private sellers on websites such as eBay as well as people who have set up their own stores dealing only in exclusive shoes have been making thousands of pounds buying and selling items. However, it seems a shame that some people only find clothing interesting because they can make money out of them and don’t truly enjoy what they have for any length of time.
As well as this, a lot of the time there is a certain view of people who resell clothing online that they unfairly increase the prices for everybody else which is deemed unfair. That being said, others do it purely out of a passion for clothing and because they enjoy selling their stuff to people who might want it more than they do and making them happy. One big thing that the streetwear resale market has going for it is that there is no chance or danger of the market being saturated. This is because of the sheer number of brands on offer as well as it being a secondary and such a diverse market. As well as this, most of the launches these days enable the lucky buyers to only buy a pair or two to stop hoarding of a particular product which is definitely the fairest way to do it.
One of the possible side effects of this growing obsession with the streetwear resale market could be that clothing brands have to work even harder to think of ways to produce the goods and keep people coming back again and again. However, in a world dominated by exclusivity and trying to one up the competition, this may be the toughest challenge yet.