The Economics Of Sneakers: Why Rare Kicks Are Worth The Hype
Sneakers, or kicks, are possibly one of the most popular types of footwear these days.
The comfort, versatility, and style offered by sneakers have made them a preferred choice of footwear for many people around the world. Because of that reason, sneakers have become an integral part of the athleisure movement.
At present, the sneaker global market is valued at over US$75 Billion and is expected to grow to US$100 Billion by 2026. Aside from the big names like Nike or Converse, there are numerous brands that manufacture and sell sneakers today, further contributing to its growth.
However, a lot of sneaker enthusiasts today are showing interest in old and rare sneaker models. This trend has subsequently caused the prices of rare sneakers to skyrocket.
But if you are a newcomer to the sneaker culture, you might ask – why are rare kicks so hyped? That’s what we have discussed in this guide, so read on!
What Are Rare Sneakers?
As you can guess from the name, rare sneakers are footwear products that are not readily available on the market. In most cases, this lack of supply is caused due to the product being discontinued by the manufacturer. Aside from that, some sneaker models are manufactured or sold on a limited scope, which makes them rare and sought after by sneakerheads.
Keep in mind that rare sneakers are not the same as old sneakers. For instance, one of the most popular sneakers today – the Nike Air Force 1 – turned 40 years old in 2022. However, it cannot be considered a rare sneaker since you can still purchase the Nike Air Force 1 at Grailify and other e-retail sites.
Why Are Rare Sneakers So Hyped?
One of the biggest reasons why sneakers have witnessed a surge in demand in recent times is their versatility. These shoes are incredibly comfortable to wear, and the overall style makes them suitable for a wide range of outfits.
In contrast, rare and old sneakers have become popular mainly due to their exclusivity. On that note, the ability to resell rare sneakers on the market further adds to the hype.
Due to the exclusive nature of rare sneakers, they can usually be sold at inflated prices on third-party sites. Naturally, this makes rare sneakers a great way to make money, which is the main reason why rare sneakers are hyped in the first place.
However, the same cannot be said for regular sneaker models that are readily available on the market at present. After all, if the shoe is available for purchase at a cheaper price from the manufacturer, then it would not make sense to resell it at a higher price. This is why rare kicks are worth the hype today.
Conclusion
Sure, rare sneakers may not be the trendiest footwear choices available today, but they are definitely worth getting for the exclusivity alone. Besides, if you can get your hands on a limited edition sneaker that is not being sold anymore, you can get significant bragging rights!
With that being said, it is always wise to do some research before reselling or buying rare sneakers. That way, you can determine the price economics for the product, which will allow you to get the best possible deals.