eBay is opening a pop-up store in LA where it will sell exclusive and coveted sneakers at up to 70% off market price. And as a gimmick, it will offer lower prices for shoppers who wear their purchases out the door – a cardinal sin for die-hard collectors.
In its press announcement, eBay said, “According to a recent survey of 1,000+ sneakerheads, commissioned by eBay, the majority of respondents said they wear less than half of their collections.”
That’s because condition is a major factor in the value of collectibles – and not just for sneakers. “Never worn” (or never opened) is a tenet of collecting.
But unlike many other types of collectibles, sneakers don’t necessarily last forever. An article in High Snobiety from last year declared, “Tiktok’s Latest Viral Trend Restates the obvious: Wear Your Shoes!” and wrote, “currently, videos of crumbling sneaker soles are making the rounds on TikTok and Instagram.”
eBay said its “Wear ‘Em Out” sneaker store will feature a selection of the season’s most coveted styles, including new releases that would normally only be available at deadstock prices.
Helping hype the marketing campaign is musician Offset who helped curate the stores’ offerings by “using his years of sneaker collecting to determine what collectible kicks enthusiasts would most want to un-deadstock.”
eBay is previewing the store’s inventory at Sneaker Con Anaheim (May 21 – 22). The eBay Wear ‘Em Out Store will be open May 27 – 29, 2022, at 455 N Fairfax in Los Angeles.
The marketing promotion is part of eBay’s vertical strategy – what it has told Wall Street analysts is its focus on high-value buyers and focused categories, which include sneakers, watches, handbags, trading cards, automotive parts & accessories, and refurbished goods.
“With trusted services like Authenticity Guarantee, low seller fees, eBay 3D true view and money back guarantee, eBay gives shoppers confidence with every sneaker purchase,” eBay said in this week’s announcement about its sneaker store.
One thing missing from the announcement: where is eBay sourcing the inventory for the store, and did it invite eBay sellers to participate? Will those 70% off prices impact eBay sellers’ listings in the short term, even though they’ll only be available in a single location for only 3 days? And, will it help eBay sellers in the longer term by bringing attention to the sneakers category?