Pocket pricing

How does pocket pricing relate to small-scale and localized pricing strategies?

Pocket pricing, while not a commonly recognized term in mainstream retail or sneaker reselling, generally refers to the practice of setting prices based on specific market segments or sales channels rather than a single standard price. This might involve offering different prices based on regions, customer groups, or sales platforms. The main goal of this strategy is to optimize profits in each "pocket" or segment of the market. In sneaker reselling, pocket pricing can be employed in various ways. For instance, a reseller might charge different prices for a sneaker based on where it's being sold: a higher price on a high-end platform with affluent customers and a slightly lower price on a more general marketplace. Additionally, the strategy could involve adjusting prices based on regional popularity. A sneaker that's highly sought-after in one area might fetch a higher price there compared to a region where the demand is lukewarm. Pocket pricing requires a keen understanding of different market segments and the ability to adjust prices dynamically. It can be an effective way to maximize profits, especially in the diverse and fluctuating world of sneaker resale. However, resellers must be careful when implementing this strategy, as inconsistent pricing can sometimes confuse or alienate customers if they become aware of the price differences.