If you really want to see “crazy expensive sneakers” and you have access to Disney+, watch the first (season 1) episode of “The World According To Jeff Goldblum”, which includes a visit to SneakerCon, in which literal suitcases full of cash exchange hands for certain shoes. It is insane on a grand scale.
I would be interested to see how the shoe companies managed to cultivate this phenomenon (not to imply that it’s wholly a corporate thing, but that’s got to be part of it).
Most sneakers are cheap to make, and improvements to production techniques mean it’s possible to produce a single pair with custom colors and (to a lesser extent) materials. There shouldn’t be much perceived value in, I dunno, a purple and gold pair of jordans.
But instead, like with analogue watches after the quartz crisis, they have become a symbol of wealth and discernment, and prices have exploded.
I remember, a lifetime ago, being vaguely disappointed by the trend amongst kids to go apeshit over clothing with the brand prominently displayed. I thought they were a bunch of tools, giving those companies free advertising.
It’s basically the same for the entire high end fashion industry right (and in that context even the Jordans going for $300-500 aren’t that pricey), high end designer garments may not be made in the absolute cheapest industrial clothes factories in Bangladesh, but they are still produced at extremely low cost with the cost of labor and raw materials being only a minuscule fraction of the sticket price.
They do it the same way every other company in the world does it - by creating artificial scarcity. It’s no different than trading cards or handbags or any other secondary markets created for ‘limited edition’ products.
It’s not just kids though. Look at all of those extremely expensive leather goods like Coach handbags or Louis Vuitton luggage covered in the logo of the brand. Mostly that stuff is aimed at grownups.
I would expect adults to be uncool. The kids have no excuse.
I never really thought much of Stephon Marbury as a player. He seemed like a guy you wouldn’t want to have on your team despite the impressive numbers he was capable of putting together. But I gotta say, I really found it admirable when he announced his inexpensive Starbury line. Finally, a star-quality player who could easily have charged star-quality prices for his merchandise, but decided otherwise. I wish it had turned out to be a trend.
Whenever we wanted high end stuff, for coolness, or to fit in with wealthier kids, the solution was always the same. A talking to about just how expensive these were, and then a bargain, demonstrate your commitment to this item by coming up with a sizeable chunk of the purchase price, less than half but enough that the kid had to sacrifice other choices and earn extra money to get there.
If they’re willing to trade their pocket money and extras, take on more chores, etc, to earn it, over a couple of months, they’d probably get their wish, (usually rolled into a BDay etc). And they’d both value and treat the item with respect as a result.
But if the kid can’t save up their allowance to come up with their $100 portion, say, or uninterested in taking on paying tasks, it’s not going to ever happen. And the kid learns the difference between, ‘But I REALLY want it!’, and, ‘But not enough to sacrifice for it.’