Online sneaker drops are here for the long haul. Pre-COVID, waiting in long lines while awaiting the drop of the next hottest sneaker was the norm. Now, subscription shoe services and online experiences are signaling online sneaker releases’ long term future. Nike experienced a massive uptick in online sales last summer (in a single quarter online sales surged more than 80%), with the brand’s CEO noting that “digital is here to stay.” Foot Locker’s online sales are also outpacing their brick and mortar locations, and Statista reports that in-store sneaker sales fell from $4.3 billion in December 2019 to $3.4 billion in December 2020. *Enter online shopping experiences.* Sneakersnstuff, Foot Locker, and the Nike SNKRS app have been going digital to hype up sneaker drops through online raffle systems, and new platforms like Kyx World also let sneaker-lovers get new kicks through a subscription box model. The exclusivity of limited-edition or limited-supply items are growing in interest among young consumers, and online sneaker drops have huge potential post-pandemic. (Glossy)
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