Reselling has changed how people purchase items all over the world. Throughout the past decade, there have been many advances as to how we purchase items to keep up with the latest fashion trends. The limited quantity of items in a release causes the value of products to skyrocket. According to equity research done by Cowen investment bank the sneaker resale market alone is estimated to be potentially worth $30 billion in the United States by the year 2030.
“I remember having to camp out for a pair of Jordans or waiting for SneakerCon to come to Miami to get a new pair of sneakers, now it takes two seconds to find anything I want,” Sneaker collector and reseller David Lopez said.
Anyone can become a reseller with the latest technology and social media to use to their advantage. Apps such as StockX allow people to post items that they want to sell in a matter of minutes with only a $5 selling fee as well as the platform allowing customers to easily find what they are looking for. In 2018 Joshua Luber, StockX CEO shared in an interview with the New York Times that the app makes about $2 million a day.
“Supply and demand are what rule our country, of course, I’ve bought something just to resell it, it’s an easy way to make fast money,” senior at the University of Alabama David Hernandez said.
Some resellers will try to purchase items in bulk to then resell them. People now have advancements such as computer programs known as bots to help. Bots work behind the scenes to help add multiple items to a cart and check out at rapid rates.
“I buy and resell clothing and sneakers every day. It wouldn’t be possible to purchase almost 100 sneakers in a matter of minutes without bots,” Sneaker reseller Mark Ramirez said.
These bots are very beneficial to the resellers behind them although not so much to those who are just trying to shop or collectors.
“Resellers have murdered the sneaker game. Genuine collectors don’t even have fair chances,” David Lopez said.
People can now resell virtually anything that has a certain level of anticipation around it. From clothing and accessories to video games. It has never been easier to purchase collector’s items, as long as you don’t mind paying a little extra. Although, not everyone is a fan of these entrepreneurs.
“Reselling can be very annoying when I want to buy an Xbox, but I can’t because they’ve all been purchased and now I have to pay at least $200 more than retail,” Vivian Strasstle said.
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