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eBay launches 'Inside Drop' for sneaker enthusiasts

Jacques Slade, Sneaker Expert, joins Yahoo Finance to discuss eBay’s launch of ‘Inside Drop’, the outlook on the sneaker market, and how the pandemic has changed interactions in the sneaker community.

Video transcript

[MUSIC PLAYING]

ALEXIS CHRISTOFOUROS: Welcome back. eBay has launched a rare opportunity for sneakerheads. It's called eBay's Inside Drop. And it will celebrate and reward eBay's community of sellers, both new and old, with some of the rarest, most incredible friends and family sneakers on the planet. Joining us now to learn more about this Drop sneaker-- this Drop event is sneaker expert and longtime eBay seller Jacques Slade and of course, our resident sneakerhead, our Reggie Wade. Good to have you here, guys.

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Jacques, with all the sneaker platforms out there, why do you think eBay sets it apart?

JACQUES SLADE: I think one of the key things about eBay that sets it apart is the fact that they have no seller fees. On a lot of the other platforms, they actually charge you to sell. And eBay, being an OG in the game, recognizes the value in the community. And they took away those seller fees if you're selling a sticker over $100.

REGGIE WADE: Jacques, it's great to see you again, my brother. Now, what can--

JACQUES SLADE: Good to see you too, Reggie.

REGGIE WADE: What are some of the pairs that are up for grabs in this drop?

JACQUES SLADE: I think the most popular pair is probably going to be the fragment Air Jordan 1 that came out about five or six years ago. It's a collaboration with Fragment Design and Jordan Brand. And that sneaker, as a friends and family sneaker, goes for about $8,000, maybe a little more, depending on where you get it from.

REGGIE WADE: And we all know something that dismays many sneakerheads is bots. And we all have to deal with them when we're trying to get these shoes on release day. And it's taken away some of the joy out of people. I've known people that said, you know, I'm leaving the sneaker game because of this. Do you think the larger companies, like the Nike and Adidas of the world, are doing a good job at trying to root them out?

JACQUES SLADE: I think they are doing a good job of trying to root them out. It's a very difficult process. It's like a moving target. A lot of these people that make bots, they're constantly refining and constantly improving the things that they're doing for their systems. And so it makes it harder for these brands to keep up.

But I think the brands know how this is affecting the community. And they're getting a lot of pushback from the community. So it's in their best interest to try their best to fix things and get rid of those bots as much as possible. So you see a lot more raffles happening. Nike has their Draw on the Sneakers App. Adidas has Confirmed on their Confirmed App.

So these brands, they're definitely taking the steps to make it possible so that the consumer can actually get the shoes and that they're not dealing with the bots.

REGGIE WADE: Speaking, do you think that's why it's a better option to go on secondary sites like eBay, so that you don't have to deal with them?

JACQUES SLADE: Yeah, that's one of the benefits of going onto the secondary market directly. You don't have to deal with the bots. You know the sneaker that you want. If you go on eBay, you can just simply do a search. And you can find that sneaker right away. And then you can place a bid or make an offer on that sneaker right then and there. You don't have to worry about the bots and the shoes selling out because you have them there with the inventory that's right on eBay.

REGGIE WADE: How has it been working with eBay? Because they're not a shoe marketplace. They're a marketplace for many things. But how have the sneaker people on the site interacted with you? And do you really feel that it's truly run by sneakerheads?

JACQUES SLADE: Luckily, I've been inside some of the meetings with eBay. And I do know that they have some sneakerheads on the staff that are working. So that definitely made me feel comfortable in establishing a relationship with them and working with them as a creative consultant and a sneakerhead.

And I do believe that sneakerheads do have a better chance of getting what they want on eBay. There's other platforms out there. But when it comes to someone that I think is really taking a look into the community and making themselves a part of the community, I don't see anyone doing it quite like eBay is doing it.

REGGIE WADE: Jacques, how do you think the pandemic has changed the way that the sneaker community interacts with each other? Because I remember before the pandemic, going to shows and going to stores, being able to touch these things, these sneakers. But that's changed. Do you think it's changed for the better or for the worse?

JACQUES SLADE: I don't want to say it's for the better or for the worse. I think it's just forced this community and, really, everyone to just look at things differently and interact with each other differently. A lot of these conversations that are happening on Zoom and things like that. So sneakerheads are interacting a lot more online versus in-person.

The sneakerhead community is a very communal group. People used to line up together. Some of the best friends that I have, I've met in the world of sneakers, either standing in line or at an event or something like that. So there's a very communal nature to the world of sneakers.

For the pandemic and that situation, obviously, that communal aspect isn't there. But it has allowed us to get together digitally. So you see events happening online or through Instagram or talking on Twitter or talking on YouTube. So you have these platforms that have really risen up. And that's kind of become the communal place.

That's where we have conversation. Doing live chats with the sneaker consumer is a big thing now. So I'll do live chats on my channel where I'm talking to the consumer directly because we can't really meet with them in person anymore.

So yes, it has changed some aspects of your community. But it's just allowed us to find other avenues to have those same conversations and to share those same passions in different ways.

REGGIE WADE: Jacques, do you think the bigger brands are listening more to the sneaker community? Because I remember back in the day, they just gave us what they felt we wanted. But it looks like they're starting to listen to sneakerheads a little bit more. Do you think that's true?

JACQUES SLADE: Yeah, absolutely. I think as a collective, we all have a voice. And one of the biggest changes I think we've seen in the sneaker world is the influence of women. Women have always been a part of the sneaker culture, but their voices haven't always been heard. And I think over the last two, maybe three years, you've seen a huge influx of women into the conversation of sneakers and women in positions at brands and being a decision maker at a brand and brands pushing the women forward and having them out there in the public to know this is a larger community.

Yes, there's a ton of guys in it. But there's a huge community of women that have contributed to the sneaker world in ways that I can't even imagine. And now we're really starting to see the things that they've been doing to this community and how they're helping to push the community forward as well.

REGGIE WADE: Jacques, I'm going to put you on the spot. What sneaker made you a sneakerhead?

JACQUES SLADE: Oh, my gosh, the sneaker that made me a sneakerhead. There's a couple. And main one, I would say, it's not probably the most popular sneaker. But it's the Converse Chuck Taylor. I wanted to be a musician as a kid. And it seemed like every time I watched TV, all the cool musicians had on the low top Converse Chuck Taylors that were all beat up. And so I think that's the shoe that kind of turned me into a sneakerhead because I wanted to be cool like those musicians. And in order to be cool like a musician, you've obviously got to have the same shoes they have on. So that's where it all started for me.

ALEXIS CHRISTOFOUROS: It all starts from the feet-up, right? Jacques Slade--

JACQUES SLADE: Absolutely.

ALEXIS CHRISTOFOUROS: --and Reggie Wade, thanks, guys. I learned a lot. And look, it's a huge industry, $21 billion sneaker industry but $2 billion resale industry. So there's a lot at stake. Guys, thanks again.