Shopify has established itself as one of the foremost ecommerce solutions in the world. Running an online store has never been easier or more seamless. With hundreds of integrations, the platform can tend to basically all your business needs. Thus, running a Shopify sneakers store already comes fitted with a lot of helpful solutions.
Shopify also has some very niche categories and one may wonder how well business would perform. However, with Shopify, there’s a market for every niche - including sneakers.
Whether you are reselling, upselling, or selling original sneakers, this article will show you that it is possible to run a successful sneakers store on Shopify.
Is it Profitable to Sell Sneakers on Shopify?
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That is the multi-million dollar question. Profit is one of every business person's top goals. Yes, there are so many sneakers stores selling originals and limited editions, but it is possible to run a successful sneakers store on the Shopify platform.
The market is huge – worth $794 billion in 2020
COVID had varied impacts on different markets, some good, most bad. But 2020 spelled good things for the footwear industry, which wasprojectedto rise by $42.06bn between 2020 and 2024. The market size and its potential alone should give any interested seller an idea of the projected profit.
If your store is placed strategically, your business could be on the positive side of these statistics. The sneaker industry is a booming one and sneaker culture is all the rave, and has been so for a while. As such, they make up a solid share of the market size. This enormous demand for sneakers is a factor that will keep many willing store owners in business and increase their bottom line.
Large target audience
The target audience for sneakers seems truly endless. The product is favored by both old and young for all generations, backgrounds, and genders. Sneakers are worn in basically any occasion, including casual wear, fashion shows, athletics, and school settings. As such, the target audience is both wide and diverse.
For context, research by Ebay found that the average American owns at least six pairs of sneakers.
Source: footwearnews.com
With such a large crowd of people looking for sneakers solutions just about anywhere, the margin for profitability becomes wider. Setting up your online store rightly and defining your target audience will bring in the right type of customers your way. If all is in place in your Shopify store, you should have no issues retaining these customers. Additionally, you could get repeat buyers or referrals to hike up your sales.
Massive profit potential
The market size and target audience are obvious pointers to the profit potential of a Shopify sneakers store. Furthermore, sneakers range from high-end luxury to the basics, thus creating the opportunity for a secondary market in the form of upselling.
Upselling can create another avenue for profitability within the sneakers market. Reselling and thrifting are also strong contributors to the profit margin when it concerns items like sneakers. In addition, collection culture has added another layer of profit to sneakers sellers as collectors pay premium prices for their items. Thus, the profit potential for sneakers widens with each potential market idea.
Enduring product collection
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Fashion trends come and go, but sneakers are forever. The sneakers industry has, of recent, seen a boom in innovation, comfort, and usability. The introduction of cutting-edge technology in sneakers production has left everybody wanting more and wondering what next. From futuristic designs, to a walking-on-clouds feel, sneakerheads are left captivated with every new release.
Collectors do not let your old stock lay waste either as they are always eager to expand their collectors, thus increasing your store’s profitability. Collectibles are most common for well-known brands such as Nike, Air Jordan, Yeezy, and others.
Read further: 10 Shopify Fashion Stores that Are a Must-Follow for Inspiration in 2024
Tips for Selling Shopify Sneakers Successfully
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If you ask any seller who runs a successful Shopify store, you’ll know it doesn’t happen by accident. Fortunately, Shopify simplifies the journey by giving sellers a variation of integration options for their stores. However, this does not eliminate the need for strategic planning before running such online stores.
The sneakers market, though profitable, is also highly competitive and requires your business to stand out from the crowd. These are some steps every seller must take that determine the success of their Shopify store, especially in the sneakers market.
Bed down in a niche
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As mentioned earlier, the sneakers landscape offers various niche options, one as lucrative as the next. This is one of the first decisions any seller must make before establishing any Shopify store.
Your niche will determine your storefront theme, your target audience, your pricing, and basically every other thing. It also helps you determine your customer preferences to better serve them. Fortunately, niche options for sneakers are diverse and profitable.
Pre-owned sneakers can be anything from thrift to pre-owned rare finds. The global sneakers resale market was upwards of $10.6bn in 2022 (source: marketdecipher.com). The market is targeted to explode by another 16.4% in the next ten years. These ‘pre-loved’ sneakers speak greatly to sustainability, which every fashion brand is vying for.
Refurbished sneakers are also gaining traction in the market. Some key brands have even staked their businesses exploring that niche.
Everybody loves that new sneakers feel, so the brand-new sneakers market is currently a thriving one. Establish yourself in this niche by sourcing the best, brand new, original sneakers from trusted suppliers.
Rare sneakers and limited editions are what sneakerheads are willing to pay a pretty penny for. They make up the bulk of certain collectors items as these pieces are unique and hard to come by. They may be difficult to source but they make up for the bulk of profitability in the sneakers market.
Whichever niche you decide to own of these options, ensure you are getting your supplies from trusted manufacturers or suppliers to avoid any unwelcome changes.
Clarify your target market
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Defining your target market is the key to understanding their preferences. It helps you create the right kind of marketing strategies and tailor your store’s message to the right ears.
In any business, your product should be tailored to your customers preferences or needs. Creating the right messages for the right people will not only lead to repeat customers but referrals as well.
Clarifying your target market also helps you to manage expectations of your Shopify store, especially for those who aren’t your target. You should decide if you’re trying to attract casual buyers, sneakerheads, athletes, or collectors.
Knowledge of your target audience will give you a better stance on branding and themes for your storefront, as well as clarifying your product description. These factors combined have a direct impact on SEO, which in turn leads to sales and profit.
Price products appropriately
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Pricing always seems like a tough call for many sellers, and understandably so. The sneakers market in particular is a thriving one and pricing is crucial to profiting. It is important to decide on a pricing model for your entire business but take note, as pricing models can change.
Thorough market research to understand your target audience and their preferences is the first step to pricing. However, different businesses require different pricing models.Shopify suggests a cost plus pricing strategy, which is one of the easiest strategies for newcomers. This model involves adding up all costs incurred when bringing in the product and setting your profit margin on those expenses.
Pricing can either be hit or miss —- price too high and customers do not patronize, price too low and you don’t make any profit. Thus, it is crucial to study pricing models and find that which works best for your particular business.
Leverage high-quality images
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The importance of high-quality images on your Shopify sneakers storefront cannot be downplayed. Online shoppers rely heavily on visual and sensory appeal. As a seller, you should invest in high-quality images that explore the best of your sneakers. 75% of online shoppers say they buy with their eyes first (source: golocad.com).
As much as possible, go for original shots of the product rather than stock photos. If you have a good budget, consider employing the services of a professional photographer.
Furthermore, when designing your store, ensure to add alt text to images. Online shoppers appreciate attention to detail and intent to improve readability. Alt text also does wonders for SEO and ranking. Remember, when it comes to outlying these photos, the simpler, the better.
Use social media
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Shopify merchants ought to leverage social media to their profit. It is a powerful tool for driving growth and promoting traffic to the Shopify site. Sneakers are a highly visual product, and social media platforms like Pinterest, Instagram, and TikTok are highly effective for such product marketing.
Having a strong social media presence is key to driving traffic to your store front. Utilize Spotify add-ons such as Spotify bots to enhance communication across omni channels.
As a seller, invest in creating visually appealing content in picture, video, or written form for your sneakers that tells a story. The content should be engaging and relatable. In addition, employ SEO to drive more traffic from social media to your storefront.
Social media offers cost-effective promotion of your business and allows you to build relationships with your customer base. With feedback, you can build relationships with new and existing customers, as well as scout out those in your target audience.
Other tools such as Shopify bots can assist with customer relations by exchanging real time conversations with customers.
Read more: A Complete Guide on Shoe Store Names & Ideas: 2024 Edition
Examples of Shopify Sneakers Stores
Nice Kicks
Nice Kicks is a popular Shopify sneakers retailer focused on the resellers market. The store goes by the name shopnicekicks.com. The store has a rating of 4.5 out of 5, on the basis of customer satisfaction, brand popularity, price competitiveness, and quality of product. One feature that stands out about the store are the coupons and discounts they offer.
Allbirds
Allbirds is a well-known global footwear venture, best known for their comfortable sneakers and sustainable products. Many sneaker sites now utilize Shopify as their preferred ecommerce platform and for good reason.
Allbirds trendy and comfortable designs appeal to those looking for both style and ease of wear. With Shopify POS running their omnichannel business, they have been able to reach even more of their customer base.
Shop The Mint
Shopthemint.com is a trending place for all kinds of fashion, including sneakers. They offer both trendy and functional designs for the casual, athleisure, and other purposes. They have a current Shopify revenue of $468k (source: Builtwith).
Sports Fan Island
This is a brand focused on sport-style products, including sneakers. With Sports Fan Island, they target a particular demographic: sports fans, and double down on their marketing to them. Taking this approach guarantees that the store can retain a captive audience filled with people that can identify with their products on a personal level.
Slam Online
With revenue of over $252k (Builtwith), Slam Online focuses its efforts on basketballers with sneakers and other basketball-related items. The has a unique design, using font types and images that evoke the feeling of flipping through a sports magazine. The store not only provides high quality sneakers, it also hosts a news and trends section so visitors can stay on top of interests within the basketball and sneakers communities.
Conclusion
Achieving success with Shopify stores is a venture that requires hard work, a lot of market research, and offering of quality service. The versatility and ease of use of Shopify takes care of one aspect of the endeavor. That being said, the sneakers market is a highly profitable one, and the statistics are only looking upward. There is no better time than now to tap into the market.
Before establishing your online sneaker store, ensure to carry out extensive market research to find the best niche for your sneakers business. Scour various Shopify sites to know what competitors are doing to stay on top in the market or niche. Your preferred shoe category is crucial to your success on the Shopify platform.
Know your target audience and their preferences as that would help you tailor your solutions to their needs. Leverage on social media and SEO, as well as high-quality images to get your storefront noticed. Last but not least, price your products effectively. Research on the various pricing models and decide what works for your business. Because, ultimately, that is one of the major ways to run a successful Shopify sneakers store.
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