We’ve seen a pair of Lining sneakers being sold for 50,000 RMB… but Chinese consumers have reached a new level….
They’re now spending 2000 RMB for a shoe box!
From a niche to the masses, the hot sale of sneakers has driven the further development of the shoe box industry. GOTO is the forerunner among the players.
During this year’s 618 shopping festival, the sales of GOTO’s Tmall flagship store increased by 139% YoY.
In fact, in true China fashion, GOTO was not a shoe box brand originally. Their main product was a shield that helped shoes keep their shape.
GOTO discovered there was a huge market around shoe display and storage among Gen Z consumers and pivoted to launch their shoe box products.
China never ceases to amaze me.