For example, Nike’s Air Jordan 1 Retro “Banned” is a tribute to the first Air Jordan sneaker, which was banned by the NBA for violating uniform regulations. Consumer demands for access to iconic sneakers have opened up opportunities for Kazakhstan Phone Number List a whole new market for second-hand sneakers. Currently, its value is valued at $ 6 billion and is expected to reach $ 30 billion by 2030, according to reports from Cowen Equity Research. In fact, specialists at this institution believe that sneakers are more than just collector’s items .
“We propose the idea that sneakers are now an emerging alternative asset class that 1) benefits from illiquidity premiums; 2) offers diversification – uncorrelated to traditional asset classes; and 3) exhibits favorable risk return characteristics. ” Now let’s talk about market opportunities Sneakers were first seen as the subculture of basketball players and fans. Over time, they have evolved into a fashion trend that prompts high-end brands to join the game and create products that appeal to consumers from different walks of life. Indeed, the fact that Virgil Abloh has been appointed Creative Director of Louis Vuitton Menswear proves that sneakers have become an influence in the luxury industry.
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In this context, besides sports brands like Nike, Adidas, Puma and Reebok, historic houses like Gucci, Louis Vuitton, Givenchy, Balenciaga and disruptors like Off-White and Supreme have all joined the game. According to Statista, the global sneakers market was valued at $ 79 billion in 2020 , and is expected to reach $ 119.5 billion in 2026. Sneakers are now popular around the world, with China being one of the biggest markets, valued at $ 9.5 billion . According to Eddy Lu, founder of GOAT, an international sneaker marketplace, the sneaker community is growing rapidly in China due to the growing popularity of basketball and hip-hop culture.
Sneaker Marketing 01: Celebrity Endorsement & Influencer Marketing The first celebrity endorsement was the collaboration between Converse and Chuck Taylor. This famous sportsman helped redesign the first Converse sneakers. Indeed, released in 1922, the Chuck Taylor All Stars were the most popular basketball shoes for almost 5 decades, capturing up to 80% of the market. In 1935, the BF Goodrich company launched its tennis basketball in collaboration with Jack Purcell. Classic Purcell sneakers are still produced today, under the Converse brand. The collaboration between Michael Jordan and Nike is also one of the most successful examples in the industry.
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The company sold $ 126 million in the first year alone . According to Forbes, the basketball player received $ 1.3 billion for supporting the brand . The sneaker industry is characterized by sponsorships and collaborations with sportsmen, rappers, models and celebrities including Anna Wintour x Nike, Gigi Hadid x Reebok, Cardi B x Reebok, Alexander Wang x Adidas Originals, Kanye West x Adidas, Rihanna x Puma, Pharell Williams x Adidas, etc. Sneakers Marketing 02: Personalization and Visualization The ability to express oneself through style is one of the driving forces of sneakers.
This is why allowing consumers to create personalized and unique sneakers is one of the most effective marketing techniques in the industry. Nike was the first brand to offer a high level of personalization to its audience. Nike by You is a service that allows consumers to personalize their sneakers. Launched in 2000, the program began as an online feature, and has been implemented in over 100 in-store studios over time. Users can purchase the shoes adding a personalized look and feel to it in terms of comfort, color and style.