Celebrities and shoes: A connection that is creating a massive industry and making millions

Music and entertainment have had strong influences on humankind for centuries. However, it is not as powerful today as when social media is at its peak. The fashion industry has been an area where media has had a significant impact, but its influence is now enormous.

The shoe business, or what most people refer to as “the shoe hustle,” is a graphic example. Jack Reidenbach, the founder and CEO of Main Line Soles LLC, describes how the business has grown . “I began selling shoes when I was ten years old, and as social media and e-commerce technology improved, it grew into Main Line Soles. Since our incorporation in 2019, we have generated over $7.5million in revenue. I’m still only 17 years old, and all of this is sold on Instagram.”

Shoes are an integral part of all income groups in America. The right shoes communicate that someone is fashionable or trendy. Pop culture has only heightened this perception.

An Cowen & Co. analysis from July 2021 found that the sneaker resale market was worth approximately $2 billion in North America, and could grow to $30 billion worldwide by 2030. Entrepreneurs are making a lot of money by finding the best ways to resell shoes, and the most profitable products to sell at the same time.

Reidenbach says that shoe sales depend heavily on entertainment trends. A shoe that is popular enough to sell for $11,000 can go on sale for $25,000 within a month. Maybe an artist makes a video about it or posts it on social media.

These are common occurrences in the industry, and they highlight why entrepreneurs must be very alert to stay relevant.


Two sides to a trend-driven marketplace

Entrepreneurs who have made a living from shoes are both fortunate and unfortunate to have such a close connection with shoes in pop culture. This affinity almost guarantees that there will be a market for the most popular shoes. This gives entrepreneurs the confidence to purchase products knowing that they will be able to sell their stock.

Reidenbach began as a child with a shoe-collecting hobby. The shoe-flipping hobby evolved into a business. In his own words, however, he says that it was when he discovered how to determine demand for shoes and how far-reaching, effective, e-commerce could go that he pioneered the bulk-selling model on Instagram. As a 15-year old, this model helped me grow my business and allowed me to get investments from banks and investors. My research revealed that celebrity shoe hypes and new shoe releases were the most important sources of demand. However, I also found that the best tech was essential to capitalize on the created demand. Success in this industry is almost certain for entrepreneurs who keep an eye on tech news, trends, and technology.

This trend-driven business can also have a negative impact on your success. The price of a shoe will rise if Drake or Travis Scott wears it, or any other shoe, and post pictures on social media. Businesses should not deal with this trend-driven volatility and hype.

The reverse effect of a shoe’s popularity is that it causes a decrease in demand. This can lead to situations in which entrepreneurs have to quickly liquidate products to get the right shoes back on the market, or where they are unable to restock certain shoes with the sales revenue.

It’s difficult to predict trends or shoe hypes. These entrepreneurs need to be alert and make quick and brilliant business decisions.

Being a successful reseller in this market requires adapting to market movements and following the flow. Reidenbach says, “I need to make changes quickly in my business.” I would struggle today if I used the same business model as six months ago.


No feet on the ground, no ears on the news

Although different entrepreneurs in the sneaker reselling industry use different strategies to grow their businesses, the basic idea is the same: buy low and sell high. It’s like trading shoes. They buy a few pairs of sneakers and wait for the right trends that will increase their value before selling them. Others have had great success using bulk-selling models that allow them to move products quickly and at lower margins. Others prefer to collect rarer shoes, which can sell for thousands of dollars at auction.

Pop culture is a powerful tool for promoting and moving products, regardless of what strategy a company uses. Most shoe resellers can leverage the marketing power of a mainstream artist wearing a particular shoe. It is important for entrepreneurs to pay attention to the feet of celebrities. Nike and other shoe companies have this marketing power.
NKE
Adidas tends to market with stars in music and professional sports.

Entrepreneurs need to be aware of the current news in order to succeed in today’s world. Celebrities promoting shoes may lead to a drop in sales. As with all celebrity hype, shoe sales can fluctuate. Reidenbach believes that longevity is determined not by celebrity endorsements, but the ability to draw on those celebrities.

Ecommerce technology continues to evolve and improve. My business has had to be constantly transformed to make it more efficient with the latest technologies. From broader e-commerce platforms to niche platforms like StockX, GOAT, and others, I have created a business that is well-positioned to capitalize on the best of both social media, trends, and e-commerce technology. We can’t rely on trends and hype, but we must also create them ourselves. We can build a loyal following and our business will be less affected by external influences.

While hip-hop may be making a lot of young millionaires from music, we can see that it is also making a lot of young millionaires from other industries. From jewelers to shoe resellers to customizers, Gen Zers are not content to just follow the trends . They want to make a living from them.

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