I’m completely absorbed in the sneaker world. On both the consumer side and marketing side; it’s a harmonious blend of both. Yesterday I experienced the launch of StockX London, an exciting move for the UK sneaker-head with our questions at the ready. Instagram is such a useful communication tool.
‘The stock market of things’ just launched their first distribution centre outside of the U.S in central London. Now, before this move it was still a simple process for someone in the U.K to purchase or sell a product, mainly sneakers. But a few issues due to being in separate regions had a potential put people off. The most problematic being our notoriously inconsistent import duties.
So now that they’re here, what does it mean and how will it change the sneaker market and sneaker culture?
Here are the important bits: now that a distribution centre is in our country, it’s going to cost us less postage (by 62.5%) and the import fees have been standardised per transaction so there are no more surprises post unboxing elation. Josh used the term ‘smart-routing’ to explain how the nearest item will make it’s way to you as all SKUs are the same, whether located in San Francisco and Stockholm.
Some of my peers and fellow community members are a little sceptical as to what effect this new development may have on the sneaker buy/sell market. I’ve heard people say that it will spike values and make it even harder to acquire what you want, and therefore a less enjoyable culture to be a part of. After attending yesterday I feel confident that everything’s going to be alright. There is a much bigger picture to what StockX is trying to achieve here.
All other market places (eBay, Facebook groups, events) for sneakers will still exist, and will still thrive to find those sought after pairs; I see them as the digital version of store hunting. These platforms are more hit and miss but can wind up being a come-up. In a general perspective I don’t expect any inflation in sneaker prices, I just see an already-popular method to cop more accessible to Europeans as a whole, which is anything but negative in my view. This is very much a natural progression as the sneaker culture keeps gaining momentum and as a whole expands into a more main stream consumer.
I’m really glad StockX decided to celebrate their new hub here by putting on an event which invited and informed the community – something they didn’t have to do. Exhibitions, workshops and panel conversation plus an in-depth presentation from CEO Josh Luber made for an enjoyable day and expressed the essence of what and where it originated.
Enjoy my full event recap via Instagram stories here.