The days of buying sneakers and reselling them will be a bit more complicated than recent years. In recent news Nike has announced a plan to curb sneaker-buying bots and resellers who buy shoes and raise the prices. This month, Nike updated their terms to prevent sellers from purchasing their products and reselling them on a secondary market. Although, the previous terms and conditions already prohibited buying products for resale, the new terms allow for Nike to cancel orders placed by cyber-bots. To add fuel to the fire, Nike also added that it can deny refunds, charge restocking fees, and suspend accounts that are suspected of reselling.
The new terms also mention that it could reject orders if an account has too many returns or exceeds product limits. Nike has been proactive with holding companies accountable, earlier this year, the sneaker giant took legal action against StockX for allegedly selling fake Nike Products. While this changes the game for many of us who are frustrated with annoying resale sites, how do you think this will affect local business owners who buy shoes and resell them?