The new Sole Collector app gives users the ultimate price-comparison tool for buying sneakers.
Source: The Sole Collector App Is Here
Source: Nike.com and the Nike App are Going Bilingual in the United States
In my upcoming book: https://arch-usa.com/product/sneaker-resale-retail-in-the-new-normal-navigating-the-sneaker-industry-in-a-dtc-world/ my goal is to establish that there are opportunities in a world that is undoubtedly saturated and controlled by more dominant brands. It’s a difficult thing to pull off as the more I wrote, the more I realized how few chances there are for entrepreneurs, start-ups and even reemerging businesses to grab a share of the billion dollar sneaker industry.
At the lead of this post is a picture of the new Sole Collector app. It’s important for me to discuss this because in 2017 Sole Collector attempted to move their marketplace and combine it with a new platform in Slang:
I discussed at that time the saturation of the sneaker marketplace. Slang never really took off. This is obvious because this relaunch of the Sole Collector app isn’t a marketplace, it’s a content aggregator. Instead of looking to compete with Stadium Goods, GOAT and StockX, Sole Collector decided to utilize the data from those companies to provide shoppers a quicker way to check prices on all three channels. Why is this important and why would I combine it with a post on Nike’s new Bilingual addition to its digital platform?
The new book tends to move my mind more towards analysis and comparison.
Sole Collector understands what it is. It’s a media platform that has built an entertainment and information company catering to the sneaker culture. As sneaker culture became more mainstream, Complex gained the ability to access a wider network of consumers. This didn’t make the company capable of launching a sneaker e-commerce platform. They adjusted and quickly moved away from Slang and towards a relaunch with this new app catering to their audience in a more authentic manner. Business Insider stated that Complex in 2019 was on pace to generate 200 million in revenue as a media outlet serving up content and conferences targeting youth culture.
Nike in comparison truly understands what it is and they recognize the growth areas in their markets. The Latino market is underserved, but in the book I discuss the shift of Blacks and Browns into the digital marketplace via the array of online banking and finance options. While the current administration has attempted to prevent the growth of the Latino community, Pew Research shared that, “The U.S. Hispanic population reached a record 59.9 million in 2018, up 1.2 million over the previous year and up from 47.8 million in 2008.”
These are two very different updates from established companies, but both adhere to the paths I discussed in the book for newer companies attempting to find ways to earn income from the sportswear/sneaker industry. The only real paths to finding consumers in an industry bogged down with so many options is to look closely at what might be considered niche areas and provide a service not based on price, but quality and customer service. Complex didn’t look at competing, they looked at a way to improve delivery of their content while providing a service. Nike is constantly looking to grow and to do so they are looking towards the growing Latino community for continued development of their digital strategy.
Where do you fit in?
Pre-order a signed copy of my new book to read more on this topic:
Sneaker Resale & Retail in the New Normal: Navigating the Sneaker Industry in a DTC World