E-commerce

The slow decay of sneaker culture

A nike sneaker going from red to gray
Illustration: Aïda Amer/Axios

StockX is an online sneaker marketplace that mimics the stock market, allowing sneaker-heads to track specific items and decide when to buy, sell or hold. It also authenticates every purchase, eliminating the scammers who plague other re-sellers like eBay.

What's happening: StockX has attracted people who have no interest in shoes — just the gains they can make from flipping them. The result is a "tectonic shift" in the makeup of the sneaker consumer.

Amazon hits a speed bump with India's new e-commerce rules

Brick and mortar store in Varanasi, India. Photo: Jodie Griggs via Getty Images

Amazon's share price fell in after-hours trade this evening despite a third straight quarter of record profit, as its model of selling more of its own online merchandise took a hit in India, a key future growth market.

What's happening: Starting tomorrow, both Amazon and Walmart have to drop any merchandise sold by companies in which they have an equity stake or an exclusivity deal. The new Indian rules are meant to promote local businesses and prevent the kind of retail destruction that the two big U.S. retailers have wreaked elsewhere.

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