Is sneaker reselling dying?

Sneaker reselling might just be transitioning into a new era. Gone are the days when sneakers can be bought for ridiculous price tags and with a high level of copping difficulty. 

Or are they? 

The year 2023 was an absolute nightmare for sneaker resellers and hypebeasts alike. The reason is the crashing market value of numerous sneakers. 

On the flip side, it was a great opportunity for sneakerheads to grab some fresh kicks for the retail price due to an abundance of stocks sitting on the cold shelves of many stores.

But the million-dollar question is, what could be the possible reasons for the sudden fluctuation of sneaker prices in the market?

Our take on the ‘Is sneaker reselling dying’ sentiment

Here are some arguments that might bring the “dying art of sneaker reselling” to light.

The rampantness of counterfeit sneakers

Sneakerheads have divided opinions about counterfeit sneakers. But whether they accept it or not, these fake pairs are really circulating within the sneaker community. There are even counterfeit sneaker sites that are skimming credit card information from users.

Even though they don’t really have any effect on the original pair’s resale value, the dominance of counterfeit sneakers in the community indirectly affects the sales of high-demand sneakers. Many so-called sneakerheads actually settle with donning fake joints and opt not to pay hefty prices for authentic ones. 

There are at least two possible reasons for this growing mainstream: counterfeit sneakers are much more affordable and their appearance is actually getting closer to the originals. Nonetheless, many in the sneaker community don’t condone this idea.

Stocks overload

The sneakers’ market value, just like other products, relies on the law of supply and demand. According to Statista, the sneaker market is predicted to have an annual growth of 5.18% from 2024 to 2028. 

Sneakers that are rarer and more sought-after tend to have a heftier price tag than those that are larger in quantity and easier to acquire. This trend has been the bread and butter of every sneaker reseller for decades. Since many sneakerheads go after the grails, resellers take advantage to earn more.

Unfortunately, sneaker companies are now becoming unpredictable when it comes to shoe releases and restocks. Sometimes, sneakers that are highly demanded are getting restocked left and right, affecting the pairs’ resale value and causing unnecessary concerns for the resellers.

Copping sneakers for reselling is risky since the market and demands are unpredictable and inconsistent. Thus, this step caused many resellers to become extra careful when selecting sneakers to flip. 

Take the Nike Dunk Low “Panda” as a prime example. During its peak, this famous silhouette used to sell for about more than 200% of its retail price. It was one of the most in-demand sneakers at one point.

However, the Dunk Low “Panda” saw countless restocks. Today, pairs can be bought for retail price in some stores and even a lot of sneakerheads claim it to be one of the worst sneakers of all time. Talk about a change of heart! 

Underwhelming designs and collaborations

Retro releases undeniably dominated the shoe game for decades. When the likes of Air Jordan 1 High “Bred” or Air Jordan 11 “Concord” are up for release, sneaker collectors will go after them in a heartbeat. 

However, sneakerheads, old and new, clamor for a new taste and experience. Hence, sneaker companies are improving their game to cater to such demands. 

But don’t get the wrong idea. Retro sneakers are still on top of the class regardless of the generation.

Going back, sneaker collaborations promote more creativity and flexibility in the sneaker community. With a wider range of designs and silhouettes, sneakerheads can enjoy different arts and crafts in a shoe. 

Strategy-wise, sneaker companies can level up the shoe game and bring more revenue by teaming up with well-known personalities from various industries. However, it could be a sink-or-swim every time a collaboration is released. 

Undoubtedly, American rapper and songwriter Travis Scott has some of the best sneaker collaborations in the game. Still, even his sneaker line with Nike had some flop releases. Check out his Air Jordan 33 as an example. 

In addition, Nike made a lazy design with the recently released Nike Mac Attack. Evidently, it just looked exactly like the Nike Mac Attack “Light Smoke Grey” with the reverse swoosh and the Cactus Jack branding. 

Another example is the Nike Air Force One Supreme which received a lot of backlash after receiving an underwhelming treatment. Even though the pair was able to emphasize the clean design of Air Force One and the signature branding of Supreme, still, a more creative design would have sufficed. 

And who will forget when the MSCHF Big Red Boot took the sneaker community by storm? At one point, this notorious pair was valued at around US$2,000. But after a brief moment, it failed miserably and can now be purchased somewhere around its retail price.

Hit-or-miss quality

Aside from the flamboyant and striking designs and colorways, sneakerheads are always looking for a bang for the buck quality every time they cop a pair. Well, who would not want to grab a pair that is appealing and has premium quality? 

Unfortunately, it is not always a sunny day for sneakerheads as a lot of sneaker releases fall victim to the hit-or-miss quality of shoe manufacturing companies. In the past years, the sneaker community has been doomed by the inconsistency in quality and factory flaws of various sneaker releases. 

This phenomenon has affected sneakerheads’ opinions about certain releases and started to become more critical when copping pairs. Besides, no one would want to spend their hard-earned money on high-priced sneakers with bad quality. 

Sneaker reselling is not dying

Is sneaker reselling dying?

At least for now, the sneaker reselling business is still in the safe zone. The sneaker resale market has always gone through highs and lows, and this inconsistency will be a staple feature of the market. Some pairs are surprisingly bricks (not hype and not selling), and there are still a lot of pairs that are skyrocketing in value.

Moreover, there will be new iterations coming this 2024. There’s a big chance that the sneaker resale market will claw back, although these “bricks” should still be anticipated.

To answer the question, sneaker reselling is not dying. Not yet, anyway.