The controversial Tokyo Olympics are here, and even sneaker enthusiasts are taking inspiration from the global event.
“We are seeing strong demand for a wide range of Olympic versions, not just the most recent drops,” StockX Senior economist Jesse Einhorn told FN.
Ahead of today’s opening ceremony, Einhorn said a lot, but not all the demand on the “stock market for things” is for retro Olympic products.
“Perhaps not surprisingly, the products associated with the 1992 Dream Team – notably the Jordan 7 ‘Olympic’ colourway – are some of the most valuable and beloved Olympic-themed sneakers,” said Einhorn. “The JO Jordan 7 ‘Olympic’ (1992) recently sold for just under $ 1,000, twice what it sold for last year. Other retro Jordan 7 ‘Olympic’ have seen their value increase by 30-60%.
He continued, “A number of the hottest releases of 2021 are just starting to drop, from Nike’s SB Dunk pack to Nike’s Air Zoom Tempo Next% and Off-White, so we’re excited to see what happens. will pass over the next few weeks. “
While the Olympics generated some demand, Einhorn said it wasn’t overwhelming – although it likely will be as the games progress.
“Last week we saw a slight increase in searches for ‘Nike More Uptempo’ and ‘Olympics’. However, that is still a relatively low base, ”said Einhorn. “We expect searches for Olympics-related sneakers to pick up in the coming weeks as some of the hottest new releases start to decline.”
Historically, StockX has confirmed that the most successful Olympics-related sneaker – in terms of total trades – is the Nike Air More Uptempo “Olympic”, Especially the retro versions from 2016 and 2020. The original model was worn by NBA icon Scottie Pippen in Team USA in 1996.
Although Nike has produced several colourways of the shoe, StockX has confirmed that the “Olympics” iteration has been traded over 10,000 times, making it the most popular Olympic-themed sneaker in its history.
Additionally, the company said the shoe saw an increase in trade following last year’s premier of “The Last Dance”, the 10-part docuseries on ESPN featuring Michael Jordan and the Chicago final. Bulls during the 1997-98 NBA season.
The “Nike Air Max 97 Olympic Rings – Red”Is the platform’s second biggest hit, which released in January 2020, months ahead of the originally scheduled Tokyo Olympics.
The 2016 Air Jordan 5 Retro “Olympic”, the 2012 Air Jordan 6 Retro “Olympic London” and the 2020 Nike Air Presto “Australia Olympic” completed the top five.
In terms of the most expensive sneakers on StockX, the 1992 Air Jordan 7 OG “Olympic” takes the top spot with an average price of $ 625. The second most expensive pair is the Nike Kobe 7 “USA Olympic” which has an average price of $ 512, and the rest of the shoes in the top five are the 2012 Air Jordan 7 Retro “Olympic” ($ 449), the Air Jordan 7 Retro “Olympic 2012 in school size ($ 438) and Nike Hyperdunk” Olympic – Kobe Bryant “($ 425).
While StockX has plenty of data on Olympics-themed releases, these are the first games the platform will be active on alongside the games – and Einhorn’s trading expectations are high.
“Our platform launched in 2016, and while some of the sneakers from the 2016 Olympics are still among our bestsellers, we expect sales this year to far exceed what we did in 2016. This is truly the first Summer Olympics where StockX was a major player. market power, ”Einhorn said. “Great cultural moments can have a direct impact on consumer demand, leading to increased trade and price premiums. We’ve seen it with ESPN’s “The Last Dance,” we’ve seen it with celebrity products, and we expect to see it with the Olympics as well. “