What is reselling?
Reselling is a phenomenon that has emerged in recent years and has spread mainly among the younger generations, developing business and contributing to the birth of some global platforms. According to predictions by GlobalData, the global resale market will grow from 28 billion in 2019 to 64 billion in 2024, with an average annual growth of 39%. It is therefore a phenomenon to be understood and evaluated carefully. It consists in buying limited edition models of sneakers or other clothing items from brands such as Adidas, Nike and Supreme online, and then reselling them at a higher price. Reselling consists of owning a highly sought after product, usually in a limited edition, and being able to resell it at a higher price to those who cannot obtain it in any other way.
As mentioned, everything essentially stemmed from the world of sneakers: this market has been completely digitized, so the most desired shoe models run out quickly in the store and end up being only available online through very complicated procedures. In this space, the need for intermediation was created: someone who applied to be able to quickly buy the models just published online and then resold them to those who had not had the same time or the same will.
Digital transformation has broken down obstacles and simplified paths. A teenager who wants to resell products previously purchased a few years ago will have to work differently, with other tools and according to other rules. Today, however, thanks to social media and platforms such as KLEKT, Grailed and StockX, buying and reselling has become much easier and more effective. The solution could be to increase the production of the most sought-after models, but the manufacturer knows that usually the excess supply causes the desire of enthusiasts to drop (and also the price at which the product will be sold).
What does a reseller do?
A reseller must use all the tools at his disposal to locate and purchase the sneakers in the limited edition release phase. One of the applications he can use is Nike SNEAKERS (App Store, Play Store). The app is free and the sneakers are released through “Draws” at a specific time, or rather a random draw.
After entering the app and confirming entry to the draw of the selected shoe, you will receive a notification if you have won the pair. It is one of the methods to “make your way” in an industry increasingly flooded with bots that are used to make lightning-fast purchases on various websites.
The reseller who manages to win the sought-after footwear must now resell. To do this, there are marketplaces where you can sell (or buy), such as StockX, Grailed and Flight Club. You can also attend groups where you can resell new or used sneakers of all kinds, as long as you respect the publication rules and the group’s netiquette.