What’s Quietly Hot – is a new series based on my resale data utilizing StockX. These are shoes that have taken off and are selling very well, but still under the radar.
Source: Nike Retro GTS Women’s Shoes. Nike.com
StockX continues to overcome the four year slump with strategic adjustments that allow the site to capture both the high end seller and the low end, which was not the original intent. How can I say this when any e-commerce’s intent is to generate sales? StockX rolled out a new Seller Program with reduced fees as a reward. The catch is that many sellers who operate on smaller margins and larger quantities, aren’t really reaping the benefits, but it’s understandable. For StockX it’s insulation, read about that in the post below:
Why You May Not See the Benefits of the New StockX Seller Program
For many sellers on StockX, the reason they choose the platform, is speed and the most important aspect, no buyer’s remorse. They are also choosing StockX because the demographics are shifting. What does all of this have to do with the shoe that’s quietly hot? The model is a retro sneaker that only rings up at retail $65.00. Nike has made it a point to focus heavily on sneakers under 100 bucks. In doing so, the brand attempts to encroach on the Vans of the world that have shown considerable growth in the last few years. How do I know this model is quietly hot?
I’ve only had access to one color of the shoe in men’s. The model on Nike in Men’s sizing no longer exists. The shoe is completely sold out… on Nike. The model received a late roll out in women’s and is still available, but only in the broken sizes of 5 and 6.5. The GTS is not a sneaker culture model that is being shown on all of the sneaker sites. It’s really the perfect timing of Nike to create a shoe that can be a staple of school uniforms at back to school time. Which doesn’t explain why I think it’s quietly hot. Look at the chart below:
The model is garnering an average resale of 83. It’s a low margin marvel that’s asking almost 20 dollars above its SRP. That’s amazing when you consider what it is. It’s not amazing if you consider StockX’s growth. Usually sneaker websites hit a wall, even e-commerce. They grow to a certain point and then flatline. StockX has begun to add segments which has brought a different buyer to the platform. The simple, straightforward layout of the site has motivated sellers and buyers to engage. What started as a “sneakerhead” site for resale, based on my data where I used to get 171 dollars per transaction in 2017, still pulls in a large per sale average of 118 dollars per transaction in August 2021. Take a First Look at the Nike Dunk High in "Dark Sulfur". But the site is no longer for “sneakerheads”. That’s a huge blow to GOAT, eBay and Grailed because those sites are geared solely towards sneaker culture which is a growing, but redundant, niche segment which informs brand heat, but doesn’t really register. What does register for brands are shoes like the GTS that cost very little and sell through without marketing.
What do you think the next sneaker in this series will be? You’ll never guess.