Is Streetwear Reselling On the Decline?
Streetwear was a gateway into fashion for many adolescents growing up in the late 1990’s to the 2000’s. It began the era of casual clothing worn exclusively by the supporters of various urban youth subcultures. A few years ago, streetwear fashion was one of the most lucrative markets in the industry, which attracted the eye of mainstream markets.
The exclusivity and limited access to these sneakers/clothes had prevented many of the most hyped brands from becoming a mainstream failure, and these brands knew what they were doing during the major releases of some of their most sought after clothes.
But unfortunately, things are not looking too good for your local reseller. With a combination of retailers increasing both the supply/price of their products, and the usual resellers moving on from reselling these products strictly has given access to the consumers to purchase most items at retail, essentially cutting out the middle man (reseller).
Kanye West and adidas just took the #YEEZYBOOST production to another level. We confirm that there will be Millions pairs of YEEZY BOOST 350 V2 "Cream White" available in an long online release next July.
Are you happy that Kanye is holding his 2016 promise ? #YEEZY4Everyone pic.twitter.com/6vatUFhuX9— YEEZY MAFIA (@theyeezymafia) May 29, 2018
The million dollar question is, will this change of supply have an effect on the demand with the market directly? The majority of people will automatically say cutting out the middle man, giving the consumers direct access to what they want purchase at a lower price can’t hurt the market. But, in the long term, the lowered interest in what these retailers are producing and having them sit on the stores shelves will lower the overall value and likelihood the product will sell out (worst case scenario).
We are not saying this effect will be fully certain, nor is it a noticeable problem to retailers (but many products are starting to sit on these sought after retailers’ shelves longer). As these retailers go through the business cycle, they need to revamp their business strategy to consistently make their products both remarkable and desirable enough to have them sell out in seconds. Resellers contribute to the hype and exclusivity surrounding these brands, as they ensure products have a same-day-sell-out when they’re released. Keeping them active is the most certain way to ensure products will sell out. As the market continues to sell products, time will tell whether reselling continues to exist.
-Xavier Novak
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