A large part of cultural influence growing up in the 90’s and in New York City revolved around sneakers. The largest retailer to participate back then and leading into today was Nike, specifically the Jordan brand. Nike was really the first to create a level of exclusivity through great marketing and limiting supply.
Today, “Sneakerheads” all over the world line up days in advance for some of the hottest sneaker releases of the year. This - combined with the high demand for limited edition releases - causes fights and in not-so-rare cases even deaths (see article: 1,200 people are killed each year over sneakers).
Two things that continued to grow with these coveted sneaker releases were the secondary market and counterfeits. So how are the collectors out there supposed to get a real pair of sneakers that they missed out on during release day? Consignment shops existed, like Flight Club and Holy Grail, but prices were always significantly higher than street value, partly due to a 20% commission rate. In the middle of 2015, an app called GOAT (Greatest of All Time) was looking to solve those problems. Here's how:
Step 1: Charge sellers a 9.5% fee, which directly translates to lower prices.
Step 2: Create a really nicely designed app that is easy to use for buyers and sellers.
Step 3: Allow for authentication of high priced items.
Step 4: Handle the logistics of going from Point A (Seller) to Point B (GOAT) to Point C (Buyer).
There are so many things to like about this app and I’ll highlight just a few:
Editorial and UGC
I want to start with the editorial content and the user generated content. There is always nicely curated editorial content to help “sneakerheads” understand a bit of the history as well as products related to some of the editorials.
Comprehensive Buying Process
When you find that pair of sneakers you really want (say, the biggest release of the year so far - the Yeezy Boost 750 by Adidas x Kanye West), the app includes extensive product details and images, giving you everything you could potentiall want to see and know about the sneaker. The app displays sleek, professional pictures from all angles, as well as images sourced from social media channels so you can see them as they're worn.
Once you’re ready to buy, you have the option to purchase immediately at the prices set by the sellers, or test your luck by making an offer and hope a seller accepts it.
Selling Made Easy
And for the fortunate person who “copped” a pair on release day and is now looking to sell? Well, GOAT has made it easy and secure to post your sneakers for sale.
Simply select the sneakers you are looking to sell, then set your price. GOAT makes it easy to find the right price point with a nicely made, convenient sliding scale that pulls in list pricing information such as offers from potential buyers as well as lowest price point.
Security and Authentication
Sellers must upload very specific pictures as framed from GOAT's templates, which initiates the process of authenticating if the sneakers are real or knock-offs. Before your sneakers go up for sale, moderators will need to approve the images for the listing.
Once a pair of sneakers is sold, the last step is what I consider to be the best part of this seamless transaction. A shipping label addressed to the GOAT team is provided for final authentication. Once your sold pair of sneakers are fully authenticated, they are shipped to the buyer and your funds are cleared.
If you’re in the sneaker game or simply curious at what the hype is about, download the GOAT app!
Written by Wes Chiang
Sales Director, GPShopper