Last year was rocky for sneaker resales. The average price return for resales of popular recent sneaker models dropped to -7%, according to researcher Altan Insights, which looked at data from the StockX platform. But will this carry into 2023?
“Right now, the sneaker market is down,” said Venita Cooper, owner of Silhouette Sneakers & Art in Tulsa, Oklahoma. “The big challenge is just trying to keep engagement when we’re not seeing a constant flow of really hyped sneakers.”
While Cooper noted that revenue so far this year is outpacing her revenue last year, she’s still planning for a slowdown. That means attending more trade shows and counting on the charisma of one employee in particular.
“Pancake — our miniature dachshund employee — is now here two days a week instead of one,” she said. “And you know, it’s just anecdotal, but I’ve definitely had some customers say, ‘Hey, you know, I bought this because of Pancake.'”
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