Men’s fashion sneakers can cost as low as $20, and even more than a car’s price. Even though both the sneakers fulfill the same purpose, the designer ones are expensive. What is the difference that shot up the sneakers’ price?
Have you ever thought to yourself that just a decade back, a good quality men’s fashion sneaker was in the range of $200 to $300?
What has changed? Why today are these sneakers costing a fortune to the buyers? How did the shoe industry become a 58 billion dollar industry? And is expected to grow 7% more by 2024!
After giving a lot of thought and detailed research, we have found some reasons for the sky-rocketing price of men’s fashion sneakers.
Is It The Material?
To be honest, yes.
The raw material used by the designer brands is way more luxe than that used by mass producers. The quality can be prominent when we see the finished good. The designers mainly import raw material from Euro Mediterranean countries because they produce the finest raw material for sneakers.
Some tips will help you judge the sneakers’ quality when deciding on making a subsequent purchase:
● For suede and leather, you must see the flexibility of the material.
● The smell of the sneaker is the easiest factor in determining the quality. If the inside is smelling like glue, you know it is a cheap one.
● Light-weight shoes are premium. The reason being, the soles used in these men’s fashion sneakers are valuable.
In addition to the quality, quantity also matters when we talk about the material. Men fashion sneakers’ material is more than the sandals and female shoes.
Craftsmanship; Not That Easy
Shoemaking requires highly skilled and expert labor. In all the crafting phases, there needs to be a specialist who can do the job like a pro. Using raw workers for cost-cutting can result in the lousy shoe. Some big names are using the well-trained labor of the Asian countries and paying them almost nothing saves them a considerable lot of dollars. But not all companies can manage to hire labor abroad, so their production cost is comparatively higher.
The local producers are making the shoes in bulk quantity where they compromise quality. Designers make minimal numbers because it takes extensive effort, time, and resources to produce top-quality sneakers. Their manufacturing process involves a detailed check and balance to maintain each piece’s accuracy.
Symbol of Status
Wearing a branded sneaker is now an essential part of our culture. The sneaker fashion has become a status symbol in few years. The fast-growing sneaker culture and the generalization of casual wear have contributed significantly to the rising of the men’s fashion sneaker price.
People readily spend thousands of dollars on the new collections. Brands are leveraging customers’ desires of winning the best sneakers competition.
Basically, the increasing trend of sneakers in the fashion world has allowed big names to offer their products in high range and limited edition. The imbalance that they willingly create between supply and demand makes people want more. And because everyone wants to get hands-on with the latest pair of men’s fashion sneakers, brands get a chance to launch a new model more frequently with even higher prices.
Marketing and Branding
The considerable cost that brands incur from marketing and branding adds a large chunk to men’s fashion sneakers’ overall price. You will be surprised to hear that people want to pay more if a particular brand endorses their favorite figure in marketing the latest launch. It is one most critical factors in driving the sneakers prices as brands compete to get the most wanted celebrity for their brand.
Endorsing a celebrity is a never-ending war that brands are fighting to win the competition for very long. They pay quite the fortune for endorsements to earn potential customers and develop their credibility. Let us just say you are paying more for the name and less for the quality.
Another factor determining the men’s fashion sneakers’ retail price is the outlets’ rent and operational expenses. These brands have huge stores in posh localities where the rent of property, electricity bills, presentation, and construction of the outlet costs them a lifetime.
Business; Obviously, They Want Profit
Procurement, manufacturing, marketing, and branding are the areas where a manufacturer has spent money. What about their returns? A business needs to earn, right?
Therefore, the final price is the sum of all the other elements and the markup. But honestly speaking, the profit margins of these brands are considerably high. A $500 pair of men’s fashion sneaker, when sold on 50% off, is $250. What do you think? Aren’t they profiting at the discounted price? They are still making a good buck on reduced prices.
Working on the marketing budget and the profit margins, these brands can reduce the sneakers’ overall prices.
Read about mens casual sneakers
