A Complete Guide On How To Resell Sneakers
The secondary or resell market for sneakers is growing year after year.
The right sneaker can sell for hundreds of dollars, often making a significant profit for the reseller. But to do that, you've to know what you're buying, how to build a salable inventory, where to sell your sneakers, and how to develop your pricing strategy.
That's exactly what the we will talk about in this article. Let's take a look at the secrets of sneaker reselling!
What Exactly is Sneaker Reselling and Why Is It Worth It For Me?
This is the most important question, so let's start by describing the phenomenon.
Although there's no consensus forecast within the industry, it is clear that we are already talking about a market of considerable size.
Fast Company predicts that up to $120 billion worth of sneakers could change hands on the secondary market by 2026.
But what does that mean in practice? Why is this necessary when anyone can buy sneakers at retail stores or online webshops?
Well, that's indeed the case, most of the standard sneaker brands can be found in these stores or online spaces. You can easily get them anytime you want. But what about the ones that can sell for a profit, the so-called bricks?
Whether you're a sneaker lover or you're interested in a OG style that hasn't been designed and launched in the last few years, you're already in trouble with a general retail store. These products won't be available there.
The sneaker reselling market consists of several online marketplaces where sneaker enthusiasts, avid collectors, and even ad hoc buyers come together to bid on a cool pair of shoes. If you're planning to resell sneakers, you should know that the key to profit-making is to acquire products that are really in demand and that you can resell at a top price.
It's an open secret that the best resellers make more than $10,000 per month reselling sneakers. However, it should also be emphasized that this is a data-driven e-commerce sector, which means that only those who can anticipate changes in market demand will be truly successful.
What Is The Overall Process?
The sneaker reselling process can be described in the following points:
- You buy the sneakers from various online marketplaces, online sneaker stores, and retail stores.
- Qualify for free shipping, make sure to buy multiple pairs if needed so you don't loose money on the shipping cost.
- List them for SALE - once you got the sneakers at home you want to list them for sale.
- Crosslist among multiple platforms. Make sure to list the same pair of sneakers among multiple platforms so you sell them faster.
- Ship out the sneakers once they are sold. Most platforms will be supplying shipping labels to you.
What Role Does BrickRadar Play in the Process of Sneaker Reselling?
BrickRadar is an artificial intelligence and machine learning-based system that continuously tracks movements in the sneaker market by analyzing millions of data points.
By using the market data, we will provide you with a daily updates list of sneakers you can resell for a profit. This will save you a lot of time because now you will no longer need to do your own research.
One of the biggest pitfalls of the sneaker resell market, which especially threatens newcomers and those who rely on intuition rather than data, is investing in sneakers you can not sell later. Once this happens you will basically loose the money you invested in that pair of sneakers.
We will provide you with resell data (like an estimated sales per month) which will prevent you from buying sneakers that you won't be able to sell for months.
How Can I Start Buying Sneaker To Resell?
Fast Company analysts estimate the sneaker resell market to be worth roughly $79 billion, so it's understandable that you'd want to get in on the action.
At first glance, the process itself does not seem that complicated: buy cheap, wait if you have to, and sell expensive.
In general, it does not seem too far away from cryptocurrencies or the stock market - but with sneakers, there's a crucial difference. While with the first two there are a variety of factors that can be used to predict future performance, it's difficult to really know what will be in demand on the sneaker market.
There are two types of sneaker resell strategies:
- Those who have a strategy of going for hyped sneakers at release date. If you can get hold of a very rare sneakers, you can certainly make a big profit on it. However, the downside is that the income does not remain constant and it's extremely hard and expensive to get a shot at buying those hyped releases for retail.
- For smart resellers, it's better to focus on medium rarity sneakers, which do not generate as high-profit margins but are much easier and faster to sell. This way, your income is consistent and predictable, so you can live off it if you want, or build a very profitable side hustle. Besides, BrickRadar lets you easily access the data you need for your business since the system sends you an updated list of profitable sneaker you can buy every day.
Based on the above, we suggest you to avoid hyped releases as they are almost impossible to get and require a lot of resources (expensive sneaker bots and proxies), instead focus on getting high-demand sneakers that are sitting in stock and are easy to get.
Where To Buy The Right Sneakers?
There are several online websites that occasionally offer various discounts on sneakers. With BrickRadar you will not only get advice about the brand but also know what type of sneaker, color, and size you should buy.
At this point, we would like to emphasize that one of the secrets of sneaker reselling is that you are not buying for yourself. That's a whole different story. Because if you are looking for your own foot size and favorite colors, you may find it difficult to sell your stock.
You can also consider foreign online stores, as you can trade duty-free within the European Union. However, if you live on another continent, you should be aware of customs fees, as they can add up to an additional double-digit amount.
Also, do not forget about the outlets stores: both Adidas and Nike have outlet chains all over the world where you can buy shoes with huge discounts of up to 50-70%. Our algorithm will be your best friend in those outlets because you will be able to see if a sneaker will make you a profit within seconds.
Where To Sell The Sneakers I Buy?
The number 1 trap that many beginners fall into is selling on social media. While there are times and products for which this channel can be suitable, Facebook groups are a very busy market, difficult to keep track of, and not the place where the highest paying customers congregate.
For this reason, we recommend that you consider the marketplaces below. They will guarantee a safe sale for both parties.
- StockX
- GOAT
- Restocks
- KLEKT
- Stadium Goods
- Urban Necessities
How To Determine The Right Reselling Price?
Determine the right reselling price for you sneakers is one of the most important things you can do, but it's extremely difficult to master.
Your best chance on success is if you make your decisions based on data. Because if you rely on your instincts, you can underprice and overprice the sneakers in your portfolio.
Prices change daily and demand is constantly evolving, something you can not adjust to without tools.
Imagine if you had to spend hours a day doing market research if you only wanted to analyze the prices of the top 3 marketplaces in detail.
Our algorithm will give you the a suggested resell price for every sneaker that is listed on the major resell platforms we support. This allows you to save a lot of time, sell your sneakers faster and make more profit per sale.
Keep Your Expenses Low At All Times!
To increase profits, it pays to keep an eye on ways to cut costs.
The top priority here is not to hoard excess inventory, i.e., not to buy shoes for yourself or friends, but rather to be in line with market demand.
Not only does excess inventory take up a lot of space at home (or in a rented warehouse), but the money you have in stock will only depreciate over time, while the wrong items in your portfolio can only be gotten rid of slowly or at a significant discount.
Before buying, always check online to see if there are any coupons or other discounts for a particular platform so that you can purchase the best bricks for a particularly good price. Many people also buy with a credit card for which their bank offers cashback, so you can save an additional 1-2% of the purchase price.
After the first successful sale, you should immediately reinvest the profits made to add new products to your portfolio. The more of your products are in demand on online marketplaces, the greater your chances of quickly earning a monthly income of over $10,000.
We can provide you with unparalleled data analysis support that can give you an almost unreal advantage over your competitors. Join BrickRadar today and find the best opportunities on the market.
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