The sneaker game is hot right now, and it will continue to develop
There is a famous metaphor that says; “Always put your best foot forward.” But wouldn’t it be better to put your best foot forward while also wearing your best sneaker on it? For some people, sneakers or shoes, in general, is just a simple thing.
It is not something that you put on your feet as protection against the ground. Although that is the truth, there are some people that think otherwise, wherein a shoe is not just a shoe. It is their character. Their outlet into showing the world their attitude and who they really are. For them, it is a part of their life.
Collecting sneakers, especially sneakers with high value or limited release editions, have been an ongoing trend for the past years. With the rise of different sneakers, brands and collectors have gained fans who called themselves Sneakerheads. And, these people have jumped what is hot right now.
Sneakers are big business. Sneakerheads or consumers don’t appear to be kicking that trend to the curb anytime soon.
The average retail price of today’s sneakers typically ranges from $70 to $250. It reflects an overall rise in manufacturing and marketing costs. Big sneaker companies compete to maintain their brand desirable to their target markets. Celebrities and social media also play an important role in the prices at which sneakers sell.
Sneaker companies like Nike and Adidas, farm out their production to more than 1 million workers. Mainly in factories in China and other countries. They are produced around the world where the labor costs are relatively cheaper.
According to NIKE’s breakdown, one pair of sneakers is manufactured in a Chinese factory. It approximately $27.50 per pair, which includes labor and overhead costs, plus $1 in shipping.
According to sneakers expert and ESPN NBA feature writer Nick DePaula, there is something that drives the market price of one pair of sneakers. It is less of a supply-side phenomenon and more of a demand-fueled business.
DePaula said that before the rise of the sneaker culture. It determines the popularity of a shoe based on the athlete that will wear the particular brand or model and the performance of the shoe itself. But today, it’s totally shifted and become about visibility as a social status symbol and how to wear it.
There is also that thing called “hype.” It also helps in skyrocketing the demand and prices of a pair of sneakers. Hype refers to how much attention a sneaker has before its release date. Basically, the hype is a fad. A clever marketing strategy in which a product is advertised as the thing everyone must have. It comes to the point where people begin to feel they need to consume it.
The emergence of the sports and hip-hop community paved the way for sneakers to become a staple for almost every person. From kids wanting to be like their Idols by wearing the same stuff that they wear, sneakers transformed from athletics and made their way into pop culture.
