$10 billion Sneaker Resell Sales Increase Amid COVID-19

$10 billion Sneaker Resell Sales Increase Amid COVID-19

New research shows that sneaker resellers’ sales increased tremendously during the COVID-19 lockdown measures.

Research firm Piper Sandler estimated that the resell market was worth $10 billion in February 2021, a $4 billion increase from 2019.

One popular New Jersey reseller, Danny Hasbani, attributes the boom to the pandemic lockdowns when people were too afraid to go shopping in person.

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“It was a lot easier to sell shoes during the pandemic,” Hasbani told The Post. “People wanted to spend money on shoes and clothes. They went online because they didn’t feel comfortable going to the stores to spend their stimulus check.” The 18-year-old says that he made over $1 million in sales last year, which nearly tripled his 2019 earnings.

The Micheal Jordan documentary also sparked a boom and renewed interest in Air Jordans, particularly rare ones. That docu-series premiered on April 19th, 2020, on ESPN and Netflix. Yu-Ming Wu, the founder of Sneaker News and chief marketing officer of Stadium Goods, said that once the doc aired, Air Jordans “that hadn’t moved for months or years instantly wiped out overnight.”

The black and red Air Jordan 14s, most widely known as “Last Shot 14,” has been one of the most sought after since the resell boom. Michael Jordan famously rocked the sneakers during the 1998 NBA Finals against the Utah Jazz. Before the doc, the 14s sold for $200. However, according to reseller Hayden Sharitt, the price skyrocketed to between $350 and $400 after it aired.

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