No more Autofill for Supreme in Restocks
In a recent email, Restocks app is no longer going to provide Autofill for Supreme. This seemed to be a wildly popular service Restocks was offering but Supreme isn’t joking around, making it more and more difficult to do anything other than place manual orders for their merch. Seems it was just too much time and effort to keep up with Supreme’s updates.
I predict similar news from other apps who offer the same kind of functionality. I also see some of the smaller bot companies having a tough decision to make regarding Supreme. Some of these bots are run by young kids who are balancing everyday responsibilities with coding updates for their software. Not sure they can keep up with Supreme, a global company recently valued at $1 billion.
Slang closes their doors
In other sneaker industry news, sneaker app company Slang has decided to close its doors. The decision appears to have been made due to increased competition within the sneaker app market and an inability to compete and make a sustainable profit.
Which leads me to question whether or not we will see further consolidation in the sneaker app/resale market? It cannot be easy to compete with the likes of eBay, StockX and Goat. So who might be next? Grailed, seems safe because of their expanded offerings and solid community size. However, there are several small, less maintained, apps out there such as ShoeSwap and Shoe Junkyz that I wouldn’t be surprised to see go soon.
What do Slang’s closing and Restock’s Autofill decision tell us, if anything, about the sneaker industry as a whole? I think it gives us a glimpse into the cutthroat world of sneaker resale and the volatility involved when trying to create a profitable, sustainable business around reselling. Slang provides a glimpse into the competitive nature of the resale industry directly. Restocks provides an example of the never-ending battle between the retailer and those trying to gain an edge in order to cop the grails and resell.
Let us know if you’d like us to have Slang or Restocks on our show as a guest.
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