There is no doubt that the streetwear industry has been booming all over the world, especially in the last decade. Its effects have been seen across the globe. Australia has been no different. Australians love the outdoors, and it shows in their fashion landscape which is dominated by athleisure and casual wear brands. Hence it comes as no surprise that the country has made quite a niche for itself in the sneaker and streetwear industry.
Australia and the growing sneaker market
The footwear market in Australia is, simply put, huge.
In 2020, revenue in the footwear market was estimated to be US$4 billion. According to Statista, the market is expected to grow annually at a 3.6% rate over the next few years. What was estimated to be valued at US$3 billion in 2012 will reach US$4.7 billion by the year 2025.
Out of this market, leather footwear takes up half of the market share. Sneakers, on the other hand, are still consistently growing every year. In 2012, the total revenue from sneaker sales was at US$280 million, however, this number increased to US$638 million in 2020 and is projected to reach US$910 million by 2025. This is evidence that the sneaker market is expected to grow in the coming years.
The resale market in Australia
The modern consumer (Generation X and Millenials) are more environmentally-friendly. This being the case, the idea of resale is much more normalized in the minds of young consumers, as many contributions to the cycle of sustainability. Due to this new-age thinking, the resale market has grown exponentially in the last few years. In fact, in the last three years, the resale market has grown 21 times faster than the retail market.
In Australia, the resale market’s gross turnover was more than $500 million last year. Whether it’s vintage pieces from thrifts shops or limited edition apparel, people are looking to resale to get what they want at the best prices on the market.
Streetwear in Australia
This emerging culture amongst younger consumers is leading the wave for Australian shoppers to become more interested and inclined to buying and selling streetwear.
While Australia is well known for its love of athleisure due to its laid-back, sporty culture, the influence from social media is bringing back designer graphic tees. Streetwear is leading the charge and steadily increasing its dominance amongst youths.
A survey by Piper Jaffray found the demand for shoes and clothes with a street aesthetic has become more popular than sports-oriented labels like Nike. From influencers to streetwear designers like Virgil Abloh entering the luxury fashion game, it is no wonder streetwear has grown into the beast it is today.
Buying and selling sneakers and streetwear in Australia
Considering the sneaker and streetwear market is still fairly new in Australia, it can be tough to find the right place to buy and sell authentic sneakers and streetwear safely. With platforms like Novelship expanding into the Australian market, connecting with the and streetwear community has just gotten easier.
Proving its trust with 200+ satisfied customers, Australian sneakerheads and streetwear enthusiasts can now shop the latest releases from the comfort of their own home, with better prices and faster deliveries than ever before.
To kick off our first major Australian partnership with the country’s best sneaker maintenance shop —The Sneaker Laundry — our Australian users will have a chance to win an ultimate Sneakerhead Starter Kit.
This starter kit will have everything you need to start your journey as an official sneakerhead – from a pair of popular sneakers to the right products needed to maintain them.
