How the cost of living crisis has affected the online sneaker market
Written by Josh Wilkinson on 27th February 2023
In the rise of the cost of living crisis, many businesses and markets have been affected.
The online sneaker market exists in Facebook groups such as Crepe City: Marketplace, where over 30,000 members trade, buy and sell their favourite shoes, with some going upwards of hundreds of pounds.
With many people focused on paying the bills, some have turned to selling their trainers.
The cost of living crisis has affected the sneaker market (credit:alamy)
Crepe City member Michael Wilkinson, 41, who lives in Washington, said: “I’ve started selling big money pairs off because I just can’t justify sitting on the cash at the minute, especially with the cost of living crisis we’re in right now.”
When asked how the cost of living crisis has affected the sneaker market, Crepe City admin Jay Holloway said: “Less people are buying new pairs that would have sold out pre-crisis are sitting around. I don’t think there’s been a huge uptake in sales on the second market either.”
A source who didn’t want to be named said: “On the flip side of the living crisis though it’s helping more affluent collectors as less people are trying to get the more hyped releases.”
Crepe City has appeared in the North East, previously holding an event at the Newcastle at the Utilita Arena in Newcastle last year. It saw people buying and selling not only footwear but also high end clothing brands such as Supreme, Stussy and Palace. It was the group’s debut to the North East. which brought a lot of people to the event.
Discussions in Crepe City range from checking the legitimacy of trainers they’re interested in, to seeing what other members for the community are wearing on their feet for the day.
When asking what their thoughts were on the sneaker culture in the UK as a whole, Jay Holloway said: “Connoisseurs of materials, those into technology from a sports perspective, terrace styles (Adidas, casuals etc.). The constant between them all being that they’re being joined by the love of footwear”.
