The sneaker resale market is hotter than ever, with limited-edition releases and coveted collaborations fetching sky-high prices. But navigating this ever-changing landscape can be tricky, especially for newcomers. Fear not, aspiring sneaker resellers! This guide will equip you with the knowledge and strategies to dominate the market in 2024.
Here's how you can navigate the ever-evolving landscape of sneaker reselling in 2024:
1. Choose Your Selling Platform
Well-established platforms like eBay and Poshmark provide extensive user bases (with eBay even offering international shipping), established selling frameworks, and a variety of seller tools. However, the competition can be intense, and higher fees may affect your profits.
Easily crosspost with Vendoo: Best Crossposting Apps For Online Resellers in 2024
New platforms are emerging to connect sellers and passionate collectors. While established players like eBay and Poshmark remain relevant, a fresh contender is shaking things up: Whatnot live sales.
Whatnot: Live Streaming the Future
Whatnot is shaking things up with live-streamed auctions. This interactive format allows you to showcase your sneakers in real-time, answer questions in real time, and potentially drive up prices through bidding wars and impulse buys. However, it requires comfort on camera and the platform is still building its user base.
New to Whatnot: How to Sell on The Whatnot App
Facebook Marketplace
This local marketplace allows you to tap into a network of potential buyers in your area. It's a great platform for moving common or less-hyped sneakers quickly and conveniently. Clear communication and prompt meetups are key to building a positive reputation on Facebook Marketplace.
Depop
Depop is a vibrant and relatively new platform that offers a unique space for reselling sneakers. The platform's focus on visual storytelling and social interaction makes it ideal for showcasing sneakers in creative ways, attracting a diverse audience of buyers. Depop's user-friendly interface and emphasis on personal style make it a promising avenue for resellers looking to tap into a fresh and dynamic marketplace.
Learn how to get started on Depop here: How to Get Started Selling on Depop
Grailed
The Connoisseur's Corner; This platform caters to high-end sneakers and streetwear enthusiasts. If you're dealing in limited-edition kicks or sought-after collabs, Grailed provides a targeted audience and a community-driven atmosphere. Be prepared for knowledgeable buyers and fair market pricing.
New to Grailed? The Holy Grailed: How To Get Started Selling on Grailed
2. Beyond the Platform
No matter which platform you choose, remember these key points:
Sneaker Authenticity is King
Always ensure your sneakers are legitimate to build trust and avoid issues. Invest in getting valuable pairs authenticated by reputable services. eBay's sneaker authentication program adds an extra layer of assurance to buyers and sellers in the sneaker marketplace. While other platforms do not offer a sneaker-specific authentication they do offer some seller protections and buyer guarantees to help ensure a safe and trustworthy marketplace.
Know Your Market
Research current trends, popular releases, and what collectors are looking for. As a sneaker seller, understanding your market is essential for success. Stay updated on current trends, popular releases, and collector preferences by following sneaker news and blogs.
Stay Informed
Immerse yourself in the sneaker world. Follow industry news, influencers, and hype feeds on platforms like TikTok, Twitter and Instagram. Engaging with online communities, and networking can bring a wealth of knowledge.
Identify Trends & Upcoming Releases
Research upcoming collaborations, limited-edition drops, and silhouettes generating buzz. Keep an eye out for sneaker events, conventions, and trade shows in your area. These gatherings are excellent opportunities to network with other enthusiasts, discover new releases, and gain first hand insights into the sneaker market.
Don't know where to start? Check out our Ultimate Cheat Sheet for Sneaker Resellers
Understand The "Heat"
Learn which brands, models, and colorways hold the most resale value. Platforms like StockX and Goat provide valuable market data and insights into past sales, including average prices, sell-through rates, and market trends for specific models.
High-Quality Photos & Descriptions
Showcase your sneakers accurately and highlight any unique features, as well as blemishes. Take clear, well-lit photos from multiple angles.
Competitive Pricing
Research market value and consider offering fair prices to attract buyers. Consider offering bundle deals or discounts for multiple purchases. I’ve even seen some sneaker resellers offer a free pair of laces to entice buyers.
Build Your Brand
To establish yourself as a reliable seller, it's crucial to develop a consistent online presence. Through active engagement on social media platforms, maintaining regularity in your posts and interactions helps keep you fresh in the minds of potential buyers. Additionally, leveraging social media allows you to showcase your inventory, share updates on new arrivals, and engage with your audience, fostering trust and loyalty over time.
Excellent Customer Service
Respond promptly to inquiries, be transparent about the condition of your sneakers, and provide a smooth buying experience. Minimizing returns is crucial for fostering positive relationships and feedback, which are essentail for the success of your resale business.
3. Ideas for Sourcing Inventory
Retail Raffles
Enter online and in-store raffles for coveted releases. Utilize tools and services that offer raffle entry automation (within legal boundaries, of course!). Sole Retriever is an all in one app tracker for sneaker releases, raffles, and restocks. They also provide real time new information. Warning, being a sneaker reseller may consume your life!
Get up-to-date sneaker info from Sole Retriever
Retail Releases
Be prepared for online queues and campouts for limited drops. Consider partnering with friends to increase your chances of securing a pair.
Tip: Bookmark Nike's Upcoming Page
Resale Platforms
Seeking out deals on reputable platforms such as StockX and GOAT, as well as established sneaker boutiques, is a smart strategy for acquiring inventory. Additionally, exploring emerging marketplaces like Whatnot can sometimes yield unexpected bargains. Keeping an eye on these platforms allows resellers to capitalize on opportunities and add desirable sneakers to their inventory at competitive prices.
Friends and Family
Sourcing sneakers from friends and family presents a viable option for resellers. Whether through outright purchases or consignment agreements, leveraging personal connections can provide access to unique and sought-after sneakers. Buying outright allows for immediate ownership of inventory, while consignment agreements enable sellers to share the selling process and profits with the original owners. This approach diversifies sourcing channels and strengthens community relationships, fostering a collaborative and mutually beneficial environment for all parties involved.
Predicted 2024 Sneaker Trends Include:
Nike & Jordan Brand
Air Jordans, particularly limited-edition retros and collaborations, consistently rank among the most sought-after sneakers by collectors and resellers. Nike itself also releases coveted shoes like the Yeezy collaboration and Off-White Dunk Low.
Check out How to Resell Jordans 2024 for a list of the most coveted drops to resell this year.
Adidas
Like Nike, Adidas releases highly sought-after shoes, especially Yeezy collaborations, which can fetch high resale prices. Adidas Originals, such as the Superstar and Stan Smith, are also popular for reselling.
New Balance
New Balance has seen a surge in popularity in recent years, with collaborations with brands like Stray Rats and Joe Fresh Goods fetching high resale prices.
Converse
Classic styles like the Chuck Taylor All-Star and limited-edition collaborations with popular brands and artists can also be profitable for resellers.
The sneaker resale market is constantly evolving, and Whatnot's rise as a popular platform demonstrates the shift towards more interactive and engaging selling methods. By understanding the strengths of different platforms and combining them with essential selling practices, I am confident that you can become a successful sneaker reseller in 2024.
The Ultimate Sneaker Reseller Cheat Sheet | Download Free Today!
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