Sneakers are a kind of social currency, and in the last decade, they have become an emerging alternative asset class, growing by leaps and bounds in recent years. Sneakers have become such an important asset class that Cowen Equity Research estimates that the global sneaker resale market will be worth $30 billion by 2030. With so many passionate investors in sneakers, as well as sneakerheads who want to own classic shoes from quality brands like Adidas, Nike, Jordans, Yeezys, New Balance, and BAPE, entrepreneurs have been able to build thriving businesses selling sneakers. One of the key tools entrepreneurs have been able to tap into is Hype 24/7, one of the best sneaker shops in Atlanta.
What is Hype 24/7?
Hype 24/7 is a pioneer among sneaker stores. The store helps customers buy, sell or trade their sneakers. The store carries the best brands, with more than 600 pairs of Jordans, Nikes, and Yeezys, and premium brands such as VLone, BAPE, Supreme and ASSC. The range and quality of the store’s sneakers make it every sneakerhead and sneaker investor’s dream.
If you’re looking to sell your sneakers, you can take them to the store, where one of the in-store experts will help you figure out the best price to sell the sneakers for. When the terms have been agreed, you can leave them at the store. The team will post your sneakers on their social media accounts, and show them in the store. The store is a sneaker hub in Atlanta, and its social media is widely followed, so your shoes will get a lot of attention.
How Reselling Can Become a Business
Demand for sneakers has exploded ever since Converse released the Chuck Taylor canvas basketball sneakers in 1921. As the technology behind sneakers has evolved and designs have changed, sneakers have become a cultural commodity, a natural part of our daily lives. Sneakers have evolved into works of art, with auction prices of rare items selling for astronomical prices.
Prices have been trending upwards, thanks to this explosion in demand, combined with lean inventories for quality brands. Nike, for example, which has 20% of the global sneaker market, has been very good at keeping supply low, so that the value of its sneakers remains consistently high.
Sneaker Hustle Nation reports that the sneaker resale market, especially when it comes to premium brands, has allowed many people to earn tens of thousands of dollars, and in rare cases, millions. This is because the market is so starved for quality sneakers. Being able to tap into stores such as Hype 24/7 to resell sneakers, is important for the success of these sneaker resellers. It’s important to not just have access to such stores or platforms, but to immerse yourself in the local culture, so that you understand what the community needs, and deliver that to them.
Entrepreneurs will, therefore, do well to focus on sneakers made by the top brands, and, focus on sneakers with very limited supply, because they have a demonstrated ability to retain long-term value. Sneakerheads have flocked to stores such as Hype 24/7, and platforms like Stock X, Stadium Goods, and GOAT, to buy and sell sneakers on the secondary market.
The hype around the best sneakers is massive. With such a limited supply of the best sneakers, many die-hard sneakerheads who can’t get sneakers when they are first issued, search for them in the reseller market. That presents entrepreneurs with an opportunity to make a profit, if they can find hyped-up shoes and work with Hype 24/7 to sell them.