Investments, like feet, can come in all shapes and sizes. From the more traditional money-makers like real estate and stocks to the more eccentric, such as fine art and rare wines, you would be impressed at the range of commodities that can prove to make a viable profit.
Even experienced entrepreneurs, however, may be surprised to discover the niche investment opportunity that lies, quite literally, right at their feet.
The “sneakerhead” market—that is, the trade and re-selling of rare sneakers and gym shoes—is valued at over $1 billion dollars. And that is only the secondary, re-sale market. The sneaker industry as a whole is worth $55 billion. For comparison, the global whiskey market is only $7 billion, which means that you might be better off buying the latest pair of Jordans rather than a rare single malt.
StockX is currently the leading database for secondhand sneaker sales and a great place to start for anyone who wants to get in on this market. According to the site, a majority of the market is driven by rare Jordan, Nike, and Adidas labels with Europe and Asia being the regions with the greatest market growth in 2019. Before you look internationally, however, you may find buyers in your own backyard through a sneaker convention.
Sneaker conventions are real, and they can be huge moneymakers for sneakerheads—with a few select twenty-somethings making thousands of dollars in just a few days. According to Business Insider, 19-year old Jeremiah Jiang made over $350,000 reselling sneakers in 2019, a big portion of which came from conventions. Young Mr. Jiang is not alone, either…
Nearly a third of Gen Z Men and one in four Gen Z Women claim to be sneakerheads. This young demographic may be due to the low barrier of entry. One can get their sneaker collection started with just one or two hundred dollars. There is a range to that price, however, as a pair of Jordan 1 OG Chicago’s from 1985 can run over $20,000.
If you are looking for something unique to spice up your portfolio, maybe it’s time to skip the realtor and do a little shoe shopping. No matter what your budget, odds are you will find something in your size.
