Ahh the sneaker industry, the subject we hold dearest to our hearts. And just like music, fashion legit transcended language barriers. So whether you’re wearing a pair of Nike kicks in Japan, Egypt, or the US, everyone can tell! Now, we all know that the sneaker industry’s popularity originated in the US along with streetwear. However, the Chinese sneaker market has become a strong contender in the last few years. So today, we’re gonna take a look at what’s going down there and where the industry is headed!
The Chinese Sneaker Market Joins the Big Boys Club!
It’s no secret that the sneaker industry went through multiple ups and downs worldwide. It makes sense to go through a market correction every few years. After all, every industry goes through waves; sometimes they go high, sometimes too low. But unsurprisingly, the sneaker industry is definitely here to stay despite the bumps it might find on the road. After all, everybody needs a pair of kicks, and odds are we’ll always do… unless we learn how to fly.
But how does the Chinese sneaker market factor into the equation? Well, allow us to explain, starting with the big picture! According to Statista, China comes second to the United States in terms of revenues in the sneaker market in 2022. The USA scores a whopping $21.5B, with China right behind it at $15B. And if you check out the yearly comparisons and predictions for the upcoming years, you’ll see a pattern! China seems to be closing that gap between the markets really fast.
Let’s Talk Some More Numbers
In 2022 China will have bought a total of 228.1 million pairs of sneakers! And we can actually feel that growth of consumption through the retailers. A few years ago, the main focus of hot sneaker releases was mainly the US and EU occasionally. The Asian customer base had to jump through hoops to have access to hot releases. However, at some point, the big brands realized that the Chinese sneaker market is worth tapping into. After all, many of the kicks they’re selling are manufactured there.
As for the future, studies are predicting that China will be making $24.11 billion dollars in sneaker revenues in 2027! That’s a number that will make anyone crack and want in on the industry wherever they are in the world. And this surge in popularity isn’t exclusive to the Chinese sneaker market. In fact, the sneaker industry and streetwear often go hand in hand. So if you’re a fan of one, you’ll definitely like the other!
Streetwear Also Got Its Big Break in China!
If you’re around social media and follow sneaker and streetwear pages, then the following totally happened. You’re scrolling and watching reels, TikToks, or whatever, and China street fashion videos pop up! That’s not just an algorithm thing because the streetwear scene is actually booming there. The new generation is growing up and with them access to technology and international fashion.
This totally led to a breakout in street fashion and sneakers! Naturally, the original inspo behind that is the US and Japanese streetwear scenes. In fact, brands like Supreme, Off-White, Stussy, A Bathing Ape, and more already have a great presence there. This actually cemented both the brands and the industry in China. If you wanna read more about that, check this out!
What About Resale in the Chinese Sneaker Market?
Aha! Asking the real questions now! You know, it’s the same song and dance everywhere in the world. Where there’s demand, there are sales! In fact, the Chinese resale market has its own platforms line Poizon and Nice. So despite the sneaker trade also being born in the US, it made its way all the way to China. And the presence of local markets doesn’t mean that the mainstream platforms everyone knows aren’t also present! In fact, StockX broke its way into China back in 2020, and it still operates there to this day.
What Does the Future Hold for the Chinese Sneaker Market?
If it keeps going at the same pace it currently is evolving in, there’s no stopping it! The Chinese sneaker market is definitely one of the US’ biggest competitors. So if you’re looking for a location to launch your sneaker reselling business abroad, you got your answer! But if you really wanna expand your business, you’ll need to up your game with the best sneaker bots around. Now that’s a talk for another time, but if you wanna take a sneak peek, check out our botting guide here! Godspeed 🔥
