Shoes Secured: Rise Of The $42 Billion Sneakerhead Bot Market
- Sneaker bots can be bought off the internet for as little as $25
- The sneakerhead business is valued at $42B
Automated programs are increasingly being used to help people get a hold of the latest limited-edition kicks. Major footwear brands regularly release sneakers with celebrity or designer collaborations, often in relatively small numbers and to widespread anticipation. The right sneaker bot can be bought off the internet for as little as $25 and is a surefire way to nab the most coveted collectibles in the $42 billion sneakerhead business. Since bots can move at a pace no human can match, securing your next pair of kicks may depend on buying your own bot.
Why This Matters: These days sneakerheads have to sign up to apps, be on mailing lists and scour the internet for pieces of information to discover when their desired shoe will hit the market. Much like what just ensued when Beyonce launched her first Ivy Park collection with Adidas (ADDDY -0.80 percent). All of the items were sold out in a mere matter of minutes, primarily due to bots. With sneaker bots folks typically pay up front for the right to use it, and then an additional subscription fee, almost like Netflix (NFLX +1.02 percent), but purely for buying shoes.
Teenagers as young as 13 with coding knowledge are the ones behind some of the most sophisticated bots on the market
If you were using a bot for sneaker purchases, it could be programmed with a name, address and bank details. These bots allow users to be ready to purchase the latest kicks as soon as that much-anticipated shoe is announced, often bypassing the retailers’ security. Reebok says it is trying to block bots to be able to give fans a fair chance of getting their hands on valued sneakers. Adidas told the BBC that they “will often limit purchases to one pair per consumer to allow each fan an equal and fair chance to get hold of limited edition designs.”
Situational Awareness: The hype around sneakers selling out only helps the companies and perhaps bots are actually improving their bottom lines. Interestingly enough teenagers as young as 13 with coding knowledge are the ones behind some of the most sophisticated bots on the market.
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