Stadium Goods Launches Bulk Sneaker Resale – Footwear News
Stadium Goods is looking to strengthen its relationship with shippers with its latest launch in an effort to make mass resale at lower prices more accessible to the sneaker community.
The sneaker and streetwear resale platform has unveiled “Source by Stadium Goods”, a proprietary new-to-market platform that allows shippers to buy and sell in bulk.
According to Stadium Goods, its new Source platform will make it easier to trade products in bulk to the secondary sneaker market and allow shippers to acquire and move products into “hands-free” batches without ever having to physically touch their inventory. .
Additionally, Stadium Goods added that buyers who previously bought one pair at a time can now take advantage of the margin opportunity that comes with buying at scale, while identifying and capitalizing on inefficiencies and blind spots in the market.
Designed by Stadium Goods’ in-house team of product designers, Source is part of its new shipper experience, StadiumSupply. Among the new experience offerings is a new mobile app that brings a number of new features, including the ability to scan products directly into the seller portal, up-to-the-minute inventory tracking and data pricing to help shippers stay on top of the market, increase profitability and improve inventory turns. StadiumSupply also offers a formalized white glove service that offers its top-selling accounts personalized account management, reporting and strategic support.
For Laura Sartor, Director of Product and Strategy at Stadium Goods, this new launch will help Stadium Goods become a “true business partner” for its shippers as it seeks to help its shippers find ways to grow their business. “We’ve been live for just over a month now and the response has been great,” Sartor told FN. “We’ve seen great traction with the product listed through Source, which is seeing the same sell rate as the product that would come to us through a typical shipment.”
These results can be further validated by the first figures published by Stadium Goods this week. According to the reselling platform, a select group of shippers who participated in Source’s beta launch sold all of their listings within the first hour, with an average order value of $1,100. The most expensive package sold so far was $10,000, the retailer said. Additionally, Stadium Goods reported that Source buyers are reporting around a 20% return on their inventory investment.
“The goal of this launch is to really provide access to a broader set of shippers – not just the big players – who may want to get into sneaker consignment as more than just a hustle,” added Sartor.
This new platform comes as the sneaker resale market has grown into a $6 billion global industry, according to a 2019 report by market research firm Cowen. In the report, the company estimated that the global sneaker resale market will reach $30 billion by 2030, and the non-US sneaker resale market will reach $19 billion.
Driven in large part by a consumer shift towards a philosophy of sustainability, the overall second-hand market is poised to more than double to $77 billion over the next five years, according to the resale report. 2021 from ThredUp released last summer.
Over the past two years, a growing number of large retail companies and brands have entered the resale business through various means. Crocs, Adidas, Macy’s and JCPenney, for example, have partnered with ThredUp, while Neiman Marcus took a minority stake in Fashionphile in 2019.
More recently, Pacsun and Target signed deals with ThredUp to launch resale, while Steve Madden and Dolce Vita partnered with recommerce and circular technology leader Recurate in peer-to-peer resale markets.