GOAT

GOAT is an e-commerce marketplace for reselling, high- fashion sneakers , luxury apparels and accessories, founded in 2015 at Los Angeles, California by Eddie Lu and Daishin Sugano. Since its inception GOAT has expanded its consumer count to 50 million members across 170 countries across US , UK, Central Europe and now to Asia (Japan, Singapore and China) .

GOAT employs a ” ship to verify model” to connect its millions of buyers and sellers, spanning across the globe to thousands of products which ranges from $25 to more than $500,000. The seller lists their product through the GOAT marketplace and if it is sold , ships the product to their nearest GOAT warehouse , where a team of experts checks for the product’s authenticity and then it is shipped to the buyer. GOAT takes about 9 to 9.5% of the sale, as their commission for the service provided. The more a user sells their products on the medium , the better their ” privileges” in the market place grows and then less fee is charged for further services. With this strategy GOAT has become one of the largest middlemen in sneaker resale market and is valued around $3.7 billion as of 2023.

The growth

By the year 2030 the global sneaker market is expected to be worth $30 billion, in which GOAT has come off as a major player. As per recent data 80 percent of GOAT users comes under the age classification of Gen Z and Millennials. This showcases the platforms ability to market towards its target consumers by offering fluidity and authenticity which makes the platform stand out in comparison to their competitors.

Outperforming competition

GOAT stands out from its competitors by bringing together both ‘retail’ and ‘resale’ into a single marketplace. This has helped to tap into a new consumer base to consider buying resale products. The immense value this platform brings to its consumers with an ease of accessibility via its mobile app and website helped what was once a small startup to grow into the industry’s biggest reseller within a span of 5 years. GOAT’s rise to be a leader in its domain could be attributed to the value it brings to the consumer base via its ease of accessibility, adherence to the highest quality of products being delivered , its transparent pricing and its and even an access to physical retail locations if preferred via multiple collaborations with existing physical retail chains.

DVC FRAMEWORK of GOAT