NBA Owner Creates Online “Stock Market For Sneakers”
StockX relies on supply and demand to adjust real-time pricing for the booming resale industry
NBA owner Dan Gilbert, in partnership with Josh Luber, the founder of sneaker-pricing startup Campless, has launched StockX, a “stock market for sneakers” built on dynamic pricing to constantly monitor and adjust resale prices for the $1 billion industry.
Gilbert, intrigued by the idea of a stock market for consumer goods, settled on sneakers after watching his teenage son sell pairs for a profit on eBay. But unlike the eBay model, StockX sellers are anonymous.
A buyer has the option of purchasing shoes at the lowest “Ask” price, or can lodge a bid the seller can accept or deny. StockX tracks market volatility for given pairs over time, and even allows sneakerheads to manage their collection online as they would a stock portfolio. While the service is limited to sneakers at the moment, Luber sees future growth potential in other consumer goods sectors, such as watches, handbags and collectible toys.
To move beyond novelty activations and one-time gimmicks, PSFK equips marketers with the insights, templates and analytics to develop high-reach campaigns that meet consumers in the moment, collect and build upon experiential data, and build scale through content creation.
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