When I Grow Up, I Want To Have Fried Shoes.

"Middle age stocks, young men's shoes", because shoes are stable, easy to store, have the appreciation of space and other characteristics are gradually becoming the hard currency of the Z generation, because its artistic, cultural and social value is evolving into a new era of symbols.

According to the report released by GrandViewResearch, the global sports shoes market is expected to exceed US $95 billion in 2025, while China accounts for about 10.5% (Euromonitor, 2018) in the whole sports footwear market, with a value of nearly US $10 billion (70 billion yuan). Behind the huge market value, what sneakers derivatives industry is booming?

　　 China's secondary shoe market has exceeded $1 billion.

In 2019, auctioneer Sotheby's joined the famous shoe resale platform StadiumGoods to hold an online auction. A pair of 1972 Nike sneakers cost $437 thousand and 500 (about 301).

The price of RMB10000 has refreshed the recognition of the category of shoes.

The two level market of sports shoes, "gold mine" is no longer news. StockX's second-hand footwear industry observation report released in 2019 showed that the second-hand premium of the three brands of AirJordan, Nike and Adidas were 59%, 58% and 25% respectively. In some cases, even higher, such as AirJordan and Off-White in 2017, the joint sneakers "TheTen" sold for 1499 yuan, but as of November 2019, the price of the sneakers on the authoritative sports shoes website FlightClub. 2000 US dollars (about 14000 yuan), the premium is over 833%. Edison Chan's brand CLOT sold in November 2019, ClotxAF1 blue silk in the two class market, the latest transaction price of $573, higher than the selling price of 129.2%.

By 2025, the global secondary shoe market will reach US $6 billion. The scale of China's second hand shoe resale market has exceeded $1 billion. Interest driven, all kinds of shoes resale platform came into being. They not only provide services for the price comparison of shoes, but also provide authentic services and reduce the threshold of "fried shoes", thus becoming a force that can not be ignored. It is reported that StockX and poison (now renamed "get things") were used to complete the C round and A round financing respectively in the second hand shoes transaction, and the two valuations exceeded 1 billion US dollars in 2019.

At the same time, diversified offline channels are also developing rapidly. In May 2019, the world's largest footwear trade exhibition SneakerCon entered the mainland for the first time. The three day activity of ShangHai Railway Station attracted twenty thousand people, involving 150 exhibitors, 45 brands, and social media traffic exceeding 400 million. JerryWu, the head of China's exhibition, was a successful Sneakerhead in the United States when he was in University. At the peak, he could turn one thousand and seven hundred pairs of sneakers online. "In 2013, I first participated in the SneakerCon of the United States as a stall owner, and truly realized the strong" community cultural power ". In the free trade zone, you can meet face to face with sports fans from all over the world, so I started the idea of introducing SneakerCon to China, "Wu said.

In fact, both the poison online platform and the offline platform represented by SneakerCon are providing footwear identification services to ensure transparency of transactions between the two sides. In order to ensure the authority and credibility of the real service of shoes, SneakerCon will cooperate with third party appraisers, and NFC chips that contain information, size, status and so on for "qualified" sneakers. "The rate of error recognition is only 0.5%," Wu said.

　　 Customized shoes will become a major trend

When the basic needs of life have been satisfied, the millennial generation of China will pursue differentiated products that can give them a sense of superiority. Whether in the high-end market or the mass market, the shoe customization is a trend.

For example, the online DIY service "NIKEiD" launched by Nike in 2000 will invite customers to participate in the link of concept development. The mode of first order production not only enables consumers to have exclusive shoes and accessories, but also can produce corresponding products according to order quantity, so as to effectively reduce inventory. The same concept of C2B is also run through the offline platform. In 2018, Nike built a "NikebyYou" special area in 001 flagship store in Shanghai. Its customized range includes shoe material, shoe sole, shoelace, shoelace button and other accessories. Similarly, Anta launched its first Chinese brand customization project, ANTAUNI, in 2017. Personalized customization can not only increase the gross profit margin by increasing the added value of products, but also accurately grasp consumers' preferences by collecting consumers' data on product styles, sports habits and consumption habits.

In addition to big brands, artists can find their shoes in the customized business. The Singapore shoe shoe custom brand SBTG, founded by the artist MarkOng, has introduced a number of impressive customized shoes. Basketball stars KobeByrant and StephenCurry are all long-term customers of SBTG. After being invited by the high street trend platform INXX to participate in the SneakerCon exhibition in Shanghai in May 2019, Ong saw the potential of SBTG in the Chinese market: China currently has a mature supply chain and sales channels, which helps him provide better customized services for Chinese consumers. In addition, he extended the design idea of shoes to clothing, accessories and other more categories. Ong said that in the current SBTG's business in China, the proportion of shoes customized business accounts for up to 60%.

　　 The beauty of sports shoes is a big business.

When shoes become expensive, cleaning care is also a big business. For Taobao shoes, there will be all kinds of products such as neutral detergent, maintenance oil and bactericidal liquid. The price of single item will range from 39 yuan to 100 yuan. Many businesses have also launched a matching sales package, the most expensive brand CircleClean brand shoes can reach 499 yuan a set.

"Yellowing of sneakers is inevitable. However, the process of oxidation will damage the quality of shoes, and how to safely whiten them will become the most common problem for collectors," CleanCircle director Yang Yizhou told VogueBusinessinChina. CleanCircle was founded in 2012. In the past, it only sold shoes cleaning tools, including cleaners, wipes, and brushes, in Tmall, one cargo, bullfight and other e-commerce channels. On 2019 double eleven, CleanCircle's single Taobao sales day alone was 1 million 260 thousand, up 75% from the same period last year. This result is almost equal to the monthly sales of the highest sales of Taobao shoe care products. In addition, from the brand's electricity supplier performance, consumers seem to be more and more able to accept the high unit price of the products: 2019 double eleven, CleanCircle passenger price is 320 yuan, up 77% over the same period last year.

With the expansion of business, CleanCircle opened a store in Shanghai in September 2019 to provide social activities such as small classes for the customers. Similar activities illustrate the importance of the maintenance of sports shoes from side to side, as well as continuous interaction between stores and collectors.

Those who are more particular about sneakers will choose professional maintenance institutions besides cleaning their shoes. StellaSun, founder of KicksTown shoe hall, a conservation agency, told VogueBusinessinChina that the brand's footwear maintenance business has been growing at 10% to 20% since 2018, and the monthly maintenance amount has been maintained at 3000-5000 pairs, of which the percentage of electricity suppliers and offline sales is 4:6. "Fried shoes fever" brings a lot of benefits to KicksTown, but Stella believes that the business of shoes maintenance will not get worse because of the heat fade away: "we are not only selling sports shoes collectors, but also ordinary sports shoes consumers. The maintenance of sports shoes is not exclusive to the small fan enclosure. With the upgrading of consumption, the shoe care will be as common as dry cleaning.

Sun said that at present, KicksTown has formed a strategic cooperative relationship with sharp sports, providing cleaning services for its agent brand Nike and Adidas. KicksTown has opened its business to the whole country, including Beijing, Shanghai, Shenzhen, Xi'an, Chengdu and other major cities since the beginning of December 2019. This shows that Sun has confidence in the expansion of the sports shoes market.

　　 More complete platform for shoes trading

2005 Hypebeast, originally founded in Hongkong, China, was originally a sports shoe blogger. Now it has developed into a comprehensive trend group. In addition to content marketing and selling third party brand products, Hypebeast has also launched many successful joint product planning. As of November 2019, the average resale price limit of Hypebeast and Adidas launched on 2015 in the shoe trading platform StockX was $685, and the selling price was above 328.5% at the start price of StockX.

"The wave of sports shoes indirectly boosted the rapid growth of KIKS," said Zhang Huisheng, media director of KIKS, a domestic trend media. The predecessor of KIKS is the WeChat public number, known as the "shoe newspaper". Now it has expanded from a single new media to new media, entity magazines, MCN Reds system and so on. In 2018, Beijing Sanlitun entity store and Tmall flagship store have been opened one after another. The size of the team has also grown from a four person small team in 2014 to a team of nearly 100 people.

On the market, such as KIKS, there are a lot of local media that are offline and offline. YOHO, NOWRE, SIZE and so on are typical representatives.

The shoe industry is not limited to shoes. Online and offline trading market, shoe show, custom service, cleaning care, and media specializing in sneakers -- these derived industries have formed an ecological circle that allows the "virtuous circulation" of shoes, shaping a more complete culture of sneakers, and promoting the standardized management of the footwear industry in a more sound system. Perhaps just like Sun said, the market will eventually return to rationality after the heat of the fried shoes, but this does not mean the end of the industry around the shoes. On the contrary, it is the secret of keeping the shoe industry "fresh" to enable the people who really love the shoes culture to buy their favorite products at reasonable prices and to enjoy the value recognition and cultural pleasure brought by the shoes clubs.