In the pandemic, While many businesses fizzle out, there are those who flee from the situation and give their businesses new life.
Mannuj
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One of the inspiring stories is that of Mannuj Shroff, a 12th-grade student from Oberoi International School. Who not only understood the immense sneakers market but also started his own business in a competitive industry. Juggling between his school and business, it was hard to manage both together. The day would end with hectic running between time, packaging the order, and delivering it at the same time as studying. It was a tough fight, but as the saying goes, 'Nothing comes easy'. His relentless dedication and efforts bore fruit, propelling his business to greater heights and capturing the attention of a wide audience.
Throughout his journey of collecting his favorite sneakers from beloved brands and establishing his own JustForKicks business of reselling sneakers, Mannuj discovered a plethora of insights. He delved into the depths of the sneaker market, exploring flexible prices, supply and demand dynamics, the popularity of sneakers, reselling strategies, and more. Today, Mannuj has successfully created a lucrative and thriving community around JFK.
It all started in the endless, monotonous lockdown days when a fervent passion took birth in Mannuj. The passion for sneakers — the colourful, charming, dapper shoes that would add additional glitz to your overall appearance. As Mannuj's interest extended, The hours turned into days as Mannuj immersed himself in sneakers, researching, reading blogs, tracking releases, and exploring every facet of the sneaker industry. The more he learned, the more intrigued he became.
Mannuj recognized the market opportunity and the company concept when he went to buy some sneakers, only to find it was out of stock. That's when he stumbled upon the secret market for sneakers on social media. Amidst his exploration of the sneaker market, Mannuj stumbled upon the concept of resale, unlocking a whole new avenue of opportunities in the industry in the midst of the pandemic. Mannuj launched Justforkicks, his sneaker reselling platform allowing users to Buy, Sell, and Consign products ranging from sneakers, apparel and accessories. Mannuj was able to turn his obstacles into possibilities over time, from collecting his favourite sneakers to reselling them; he explained how the market works in terms of reselling the product, making deals, networking, and exhibiting inventory, among other things.
Mannuj revealed the truth about how resellers on social media would leverage pricing increases dramatically when a celebrity promoted the brand. Furthermore, because the sneaker's prices were high, this provided an opportunity for resellers to earn more money. Die-hard fans would pay any price to get it. When a celebrity is affiliated with a brand, the cost jumps fourfold.
To have a better understanding of the industry, he joined special networks that provided him with insights into the complexities of the reselling market. He reveals how the hype of any sneakers can help increase their price. The market is based on supply and demand, with pricing rarely fixed. Prices would be determined by the buyers' popularity, scarceness, and enthusiasm.
And over time, realise the potential, opportunities and growth that the market holds. Mannuj’s JFK is a platform to fulfil every need for sneakers and fashion. Here one can buy, sell, and deliver sneakers, streetwear, and accessories. Despite being aware of his studies, he started his business. It was hard for him to balance student life and business life, study and attend lectures, and hurry to deliver the products. But he worked hard to make his business reach new heights, and at the end of the day, his entire day's struggle would pay off.
His business witnessed a significant surge in sales, attracting customers from all over India and even expanding its reach to Worldwide. The reseller's popularity and the vibrant sneaker community enabled seamless shipping to enthusiasts across these regions, fostering a thriving global presence. The business now operates on Instagram (@Justforkicks.in), WhatsApp, and its own website, streamlining its online presence and operations.
How does the Market work?
Mannuj has deeply studied the market for sneakers. The journey begins with brands releasing new models or limited-edition sneakers, and retailers use various methods like "first come, first serve" or raffles to distribute the limited stock. Sneakerheads eagerly participate, lining up outside stores or registering for raffles to secure the latest pairs. The scarcity of these sneakers creates opportunities for resellers, who leverage social media platforms like WhatsApp, Instagram, and online marketplaces to reach a broader audience.
Once people acquire these sneakers, they have two options: keep and wear them or resell them. Reselling can involve consigning with major resellers or selling independently. The market operates on the principles of supply and demand, with high demand and limited supply leading to higher prices. Celebrity endorsements and iconic designs often drive premium prices due to heightened desirability.
Resellers set prices based on rarity, brand appeal, and market trends, with popular and limited sneakers experiencing substantial price inflation. They actively market their inventory on social media, engaging with potential buyers and building a loyal customer base.
End consumers, motivated by passion or the desire to own limited pairs, engage with resellers for purchases. Some collect sneakers for personal enjoyment, while others view them as assets with resale value. Overall, the sneaker market thrives on the fervor of enthusiasts and the allure of unique and limited sneaker releases.
Conclusion:
As JustForKicks continues to thrive and Mannuj's expertise in the sneaker market grows, he remains committed to providing exceptional products and experiences to his ever-expanding community of sneaker enthusiasts. With each limited-edition release, the excitement and demand soar, giving resellers an opportunity to capitalize on their stored products and create a dynamic marketplace driven by supply and demand. JustForKicks stands as a testament to the remarkable achievements that can arise from pursuing one's passion relentlessly.
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