Summary
A TikTok video claimed sneakers are losing their appeal. The sneaker resale market dropped from 58% trading above retail in 2020 to 47% in 2024. Experts say demand remains strong, despite slowing hype and economic pressures affecting casual buyers.
Key Facts
- A TikTok video about sneakers losing popularity had over 8 million views.
- In 2020, 58% of sneakers resold for more than retail price; by 2024, it was 47%.
- The U.S. sneaker resale market could reach $6 billion by 2025.
- Globally, sneakers are expected to be worth $87 billion by 2025.
- The sneaker market boomed during the pandemic with limited editions and celebrity collaborations.
- Experts report continued strong demand, even if the hype has cooled.
- Economic conditions affect casual buyers, but core collectors are still active.
- The sneaker market's popularity has shifted, but it continues to show signs of growth.
