I received the following email from GOAT a couple of days ago,
UNDER RETAIL Under Retail launches tomorrow and we’re inviting all Sellers to participate. Simply list a sneaker under retail price and we’ll automatically display it in the collection. Here are some of the most wanted styles to list under retail
I immediately went into my Lieutenant Columbo routine and wanted to know the implications of this “Under Retail Campaign”. Chris from ARCH and I have had a recurring conversation over the course of three years that was birthed out of the following observation- even though the new breed of third party marketplaces( GOAT, STOCKX) are thriving , they are only really excelling in one area , that of the hyped sneakers aka the typical Saturday morning “Release Date “sneakers. I even wrote a post a couple of years ago making the bold claim that StockX would soon disrupt eBay and Amazon, see post below
StockX Will Soon Bury Most Third Party Sneaker Marketplaces, Amazon Included
Let me give you a quick and very recent example to make my case; yesterday I wrote a projection post on the Air Jordan 1 Crimson and one of the sections of the article dealt with the current market value of the sneaker being investigated. To come up with the market value, I usually collect sales data from eBay and StockX. Yesterday to my amazement ( not really ), 689 pairs of the Crimson 1’s sold on StockX while eBay only recorded 21 sold pairs. Well that number went up to 936 this morning and I won’t even waste my time checking ebay’s records.
But as dynamic as these marketplaces are they can’t really disrupt giants like eBay and Amazon until they appeal to a broader audience and cater to folks looking for steals under $100 dollars. My wife and several of my co-workers from the program I work for still shop and buy all their shoes on eBay or Amazon. I’m using this as a sample to show you that on a larger scale, folks still have their eyes glued to Amazon or eBay when it comes to shopping for regular/ low end sneakers.
But seeing this email from GOAT is indicating to me that the marketplace is seriously considering that option and that ought to be a concern for smaller chains. GOAT received an investment from Footlocker hence the situation is obviously going to benefit FTL which consequently puts smaller chains and others in a more precarious spot. Chris wrote an entire post about the reasons behind this acquisition, see post below
Once again this is a sign of things to come, I don’t know what type of marketing strategies GOAT has implemented to reach that broader audience but one thing I’m sure of is that the marketplace is transitioning to that low-end level.
Air Jordan 1 Crimson Tint| How Many Pairs Possibly Made & Market Value?
tayib salami
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