In a 2020 study, the Cowan Research Equity group discovered that the U.S. sneaker resale market generated roughly $2,000,000,000 in 2019 alone. That number is likely to hit $30 billion by 2030. Flipping sneakers is an incredibly profitable hobby, but it’s far from the only benefit to reselling sneakers.
If you’ve been curious about the many benefits of this hobby, we’re here to help. Read on for the three greatest benefits of flipping sneakers.
Make Great Money
Of course, the most obvious thing that anyone is aware of is the amount of money being made. For many, this is the primary reason to get into the hobby – and it’s understandable why. With a market in the billions, who wouldn’t be trying to get in on the action?
The sneaker market is also extremely volatile, making it something akin to the stock market in a way. Many people purchase their sneakers at a cheaper price and sell high. You might want to try local thrift shops or online retailers to see if there’s a reputable brand being sold for cheap.
From here, you piggyback off of the notoriety of the brand rather than build a shop yourself. This cuts out the time-consuming and expensive phase of building a brand and marketing. The brand of the shoes is already well-known and is the primary selling point for most buyers.
Buying in bulk is also a great way to make a profit by flipping sneakers. Clear out a clearance rack, sweep the shelves of a thrift store, and fill your cart. If you’re in it for profit, selling a single pair at a time isn’t going to always fill your wallet.
That said, there are shoes that are practically hitting a lottery. Shoe prices also change as hype and popularity surge and drop around a shoe.
If you have a shoe that you expect to sell for a lot but the price is low, hold onto it! There’s a good chance that the price will rise again and some sneakerhead will be willing to shell out for it. Don’t waste a great sneaker because you’ve grown impatient or aren’t willing to risk a loss.
Join a Community
Another one of the greatest benefits of joining a huge community of other sneakerheads. There are thousands of people that are buying, selling, discussing, or projecting new shoes and how they’ll impact the market. There’s no doubt that you’ll find a community that you fit in with easily.
You can try a variety of social media to find a sneakerhead community. Discord, Instagram, and Facebook are great places to find a group of people. You can keep this local to your own area or broaden your horizons to reach as many people as possible.
Other sites like Twitter are great for news and networking. Reddit is another excellent website to learn more about upcoming trends and projections. No matter where you pick, there are dozens of communities that you can join in on.
This might include sport sneakers, fashion sneakers, celebrity sneakers, or anything else. You can get great tips for flipping sneakers from these communities and even some guides. Read more now if you want a great guide on buying and selling Jordans.
That said, there are some sites that many may not want to use for selling. Sites like LinkedIn don’t have a focus that would benefit most sneakerheads, though you can certainly make some good connections there. The entrepreneurship culture there can lead to some excellent sneaker flipping tips, though.
These also aren’t exclusive, so don’t feel like you’re going to be missing out on anything. Join as many communities as you can stay active in them for the best benefits. This will lead to better networking, more tips, and more sales.
Help Enthusiastic Fans in Need
The last benefit is arguably the greatest one. There are countless fans of sneakers that are trying to get their hands on the latest release. Unfortunately for them, new sneakers are often extremely expensive, making it difficult to get a hold of them.
The second-hand sneaker market is a great way for fans that don’t have the funds for these new releases to get their hands on them. Lower prices than the retail launch can make them affordable for individuals or families that couldn’t afford the launch price. This is especially the case for more used sneakers that may not have the greatest condition.
Even more so than the price, though, is that many of these sneakers are in limited quantities. This makes it so that there simply aren’t any for sale – until you sell them, of course. Not only does this help fans own the sneakers they want, but it also helps you make the sale from an increase in demand.
There are also some shoes that don’t see a full release worldwide. Some might have been released in a specific region or nation, making them unattainable to fans in other areas. You flipping sneakers to another region can put them in the hands of a fan that just isn’t able to find them in their own market.
No matter how you’re helping out, you’re improving the lives of other sneakerheads. It’s a great way to help out the community you’re joining and make a decent profit at the same time. You might even find yourself on the receiving end of such a benefit with the right connections.
No matter what is motivating you to get into flipping sneakers, there are countless benefits. Reselling sneakers is a great way to make a profit, help out some enthusiastic fans, and join a vibrant and growing community. The sneaker reselling market is only going to keep growing, so get in as soon as you can.
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