Ox Street launches Used, an authenticated platform for buying and selling used sneakers in Asia Pacific.
It’s a problem many sneakerphiles face: piles of rarely worn shoes at the bottom of the wardrobe, taking up space and depreciating by the day. Sure, you could have a spring clean and purge your collection, or you could pass them on to someone that appreciates them with Used, online integrated sneaker-focused marketplace Ox Street’s sneaker trading services, which is now available in Asia.
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While authenticated marketplaces have made buying and selling limited edition sneakers more accessible, commoditizing these products mean they are only usable for selling ‘Brand New, Dead Stock’ (”BNDS”), or unworn sneakers which are still in perfect condition. Used allows authenticated buying and selling of used and b-grade sneakers across the region.
“The used segment is criminally underserved,” says Ox Street CEO Gijs Verheijke. “Sneakers are meant to be worn, but us sneakerheads tend to accumulate too many pairs to constantly wear all of them. Through Used, we are saving millions of pairs of great sneakers from a slow death at the bottom shelf of someone’s closet. In doing so, we’re also really excited to see the range of limited edition and vintage sneakers making their way back onto the marketplace.”
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For some, it may seem strange to buy used sneakers, but Ox Street data suggests that affinity for secondhand already exists in today’s market. Buyers are keen to acquire limited editions at a friendlier price point, which on average is 30% lower than BNDS.
In fact, it’s not such a strange phenomenon. Based on Ox Street’s research among its existing customer base, 45% of buyers of BNDS sneakers have already purchased used sneakers in the past but struggle with the fear of buying fakes. To tackle these challenges, Ox Street manages the end-to-end process for Used – from handling payment and shipping to authenticating all products sold through the platform.
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Ox Street soft-launched Used for sellers two weeks ago, so there are already over 1,000 used sneaker listings available on the platform, eager for new homes.
To get started with buying and selling used and b-grade sneakers on Ox Street, download the app; the search results page will show a small icon indicating if used products are available, and you can browse all used listings for a particular product after selecting your size.
Because one man’s trash is another man’s treasure.
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