The global sneaker trading platform market is expected to exhibit strong growth, reaching USD 1719.2 Million by 2030. As per the report titled "Sneaker Trading Platform Market Size, Share & COVID-19 Impact Analysis, By Type (Basketball Shoes, Soccer Shoes, Outdoor Hiking Shoes and Others), By Application (B2B, B2C, C2C and Others) and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 946.5 Million and USD 1719.2 Million in 2030. The market is expected to exhibit a CAGR of 8.9% during the forecast period.
 
Nike Inc. is Launching a Website with a Virtual Shoe Trading Platform

The management of Nike Inc. is investing heavily in the metaverse by launching an online store and trading platform for virtual sneakers. The biggest sportswear firm in the world will introduce its products on. Swoosh platform, where users can gather and display their possessions. Nike has invested in the "metaverse" over the past year and has a dedicated design team for its digital products. It launched its virtual environment on Roblox, started registering trademarks for virtual items, and bought RTFKT, a maker of virtual sneakers, last year. It is succeeding in its endeavors. From NFT products, Nike has thus far made close to $200 million.


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Increasing Internet Penetration to Drive the Market

Due to the increased use of smartphones, increased internet usage, and conveniences like easy access and payment options, consumers prefer purchasing things from online trading platforms that deliver goods. The remarkable online market expansion can be credited to the platform's distinctive user experience, which will be the main development factor for the market for sneakers trading platforms over the projection period. Additionally, as the industry continues to define the experience of virtual bartering by expanding the marketplace, players will invest more in data science capabilities to improve the customer's online experience.
 
Spread of COVID-19 to Limit Market Growth

The middle-class strata were impacted by the economic crisis, Covid-19, and the lockdowns that followed it, which led to job losses. Consequently, it is practically impossible to invest in brand-new sneakers. The COVID-19 epidemic has had a negative impact on the global market for shoe trading platforms. The COVID-19 outbreak led to a strict lockdown being implemented by the government, which also stopped production. Due to decreased demand globally due to the shutdown, sales fell to their lowest points throughout the pandemic. COVID-19 has had a substantial negative impact on business.
 
Major Players Develop Acquisition Plans to Boost Brand Image

The leading businesses in the sneaker trading platform market plan acquisitions to improve their brand recognition globally. For instance, in August 2022, investing partners Courtside VC, Trinity Ventures, and Concrete Rose Capital contributed more than $8.9 million to Tradeblock, a pioneering sneaker trading platform centered on a barter economy and the strength of community.
 
List of Key Players Profiled in the Report
Nice
Goat
Dewuapp
95
StockX
Yoho And Buy
Snake
Solestage
Flight Club

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