An application that analyzes sneakers on the resale market.
Yijie Zou
Description
Due to low stocks, it is hard for consumers to purchase limited-edition sneakers in the retail market. A large number of consumers would purchase limited-edition sneakers in the resale market. There are numerous sneaker resale platforms around the world. In China, the two most popular platforms are Poizon(Dewu) and Nice. Outside China, platforms like StockX and Goat have a huge user base. These platforms do not have sneakers in stock, instead, they play the role of middleman in the trading process.
Due to the rarity of sneakers, sneaker prices in the resale market are usually higher than their retail prices and are fluctuant, which is similar to the stock market. Sneaker resale platforms outside China provide customers with historical data about sneakers such as price trends and trading volume. However, Chinese resale platforms do not want to be involved sneakers with investment, so customers cannot have an overview of the price trend of a sneaker, which is an important reference of their purchase decision.
This project analyzes data of sneakers in resale platforms and provides detailed statistics to help consumers make good decisions. Provided with data like history price trends, consumers can purchase sneakers when their prices are comparatively low. Also, data can indicate the popularity of sneakers and predict their prospect. Moreover, based on the record of the transaction, the application can analyze the possibility of illusory popularity. There are sneaker dealers who massively purchase sneakers and create an illusion that a sneaker is extremely popular. When the price increases, they sell these sneakers at a higher price to earn money. The characteristic of such activity is that the trading volume of a sneaker rises sharply and usually a single buyer purchase a large number of pairs. This is a warning signal for regular consumers because the price will fall sharply after dealers clear their inventory. However, all these features are not provided by resale platforms in China and some of them also cannot be found in platforms outside China. This project's ultimate goal is to help people purchase their dreaming sneakers at a reasonable price.