Adidas and StockX have joined forces to introduce a groundbreaking blind-bid retail model that has taken the industry by storm. The collaboration, which featured the exclusive release of Adidas Campus 80s sneakers, allowed customers to participate in a unique bidding process to determine the price of these limited-edition shoes. This new retail strategy, known as an Initial Product Offering (IPO), shifts the power from brands to consumers, giving them the opportunity to influence pricing.
The Adidas Campus 80s sneakers were released in a limited drop of 330 pairs, each designed by three international designers, and made available for bidding on the StockX platform for three days. This approach not only made the sneakers more accessible to consumers, but also added an element of excitement and intrigue to the shopping experience.
Scott Cutler, the CEO of StockX, hailed the partnership as a pioneering move in the industry. This collaboration marks the first time a brand has joined forces with a resale marketplace to let consumers have a say in pricing new products. The results of the blind-bid process were impressive, with the average clearing price for the Adidas Campus 80s sneakers exceeding $200, and the majority of bidders paying less than their initial bid.
The success of this collaboration has opened the door to a new era in retail, one where consumer participation and innovative retail models come together to create a truly unique shopping experience. With over 10,000 bids received, with the majority coming from the US and 20% from other countries, it is clear that this new approach to retail has struck a chord with customers around the world.
The Adidas and StockX partnership represents a shift in the retail landscape, where traditional models are being replaced by more consumer-centric approaches. This collaboration serves as a testament to the power of innovation and collaboration in shaping the future of retail.
To learn more about the Adidas and StockX partnership and the innovative blind-bid model, visit StockX and Adidas.
