Impact on Online Shopping

Reselling shoes have given people a different opportunity to create a main or a secondary source of income. In the year 2020, the sneaker industry has tripled in revenue grossing way over 5 billion dollars and by 2030 it projected to reach over 25 billion[1]. Since covid-19 has halted in store sells, online sells have made an even bigger impact by allowing resellers to use 3rd party marketplaces to capture sells from the traffic those marketplaces provide. 

This chart is a representation of the growth reseeling sneaker has had in the past decade. According to forbes, the internet has changed the sneaker game. "Sneaker sales on the web were 16% of total sneaker sale last year and grew about 20%. In fact, in in 2012 and 2012 sales of all sport footwear on the internet grew about 20% each year. If we assume 20% growth for internet sales and low singles growth in physical stores, in 5 years, sales of sneaker on the web will approach a third of all sneakers sold.[1]" 

The sneaker culture is growing rapidly and is far from a short-lived trend. Over the years, collecting sneakers has become a hobby that consumers are willing to spend $20,000 or more on limited-edition shoes. The brands may be wise to capitalize on sneaker culture as the industry, which is estimated to grow rapidly in the decade. By the end of this new decade, the sneaker culture would have evolved into something bigger[1]. 

References:

[1] Lutz, Ashley. “Nike Could Be Missing Out On A Billion-Dollar Opportunity.” Business Insider, Business Insider, 17 Oct. 2014, www.businessinsider.com/nike-resell-sneaker-market-analysis-2014-10.