The last few years have seen the spectacular rise and the incredible fall of the sneaker reseller, a side hustle that flourished during the height of the pandemic.
"After the Yeezy announcement, a handful of people have come to me and said, 'I can't do this anymore; it's not worth it," David"Kari" Daniels, a sneaker-content creator on YouTube, said. While not as lucrative as Nike in the aftermarket, it was easier to buy Yeezys in bulk on Yeezy Supply using bots. These are the software applications that speed up the online-checkout process and help shoppers nab more product.
"They don't have the financial resources to hold product for long enough to see the market rebound, so it's not worth buying to flip right now," Daniels said. investigating Nike also undermined consumer confidence in the resale industry in May when the company filed a suit against StockX, partly claiming StockX was selling counterfeit shoes.
Falcon said peak sales were during May 2020 when stores in California reopened after lockdowns. While a lack of inventory challenged his store at the time, customers spent stimulus and unemployment checks freely. To Falcon, the first quarter of 2022 is"when the COVID bubble began to pop," adding that traffic to his store has declined by 20% since then.
GOAT Group, which sells both used and new sneakers and clothing, recently bought the resale platform Grailed, bolstering its apparel and accessory offerings.
Domino_Listen
Sold some Travis for 2k$ and some off white ones for 2k$ this week. 🤷🏽♂️
I just sold some off whites for $1800 though lol
and we only have two feet and so much storage. and with Nike raising their prices, so much money.
really i sold my used 3 year old retro jordans for higher than retail just a month ago, they were clean tho lol
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