China’s online shopping community platform, “Dewi”, which offers overpriced sneakers for sale, took down 23 models of Chinese sneakers that had been speculated to be overpriced on the 6th. (Photo taken from weibo.com/duapppoison)
After the “Xinjiang cotton” incident triggered a wave of boycotts of foreign goods, China’s domestic sneakers were speculated to a sky-high price of 48,889 yuan (RMB, the same below, about $7,467) per pair, sparking public anger. China’s online shopping community platform, “Take-it”, which offered the overpriced sneakers for sale, today took down 23 models of Chinese sneakers that were speculated to be overpriced.
According to Chinese media reports, the sellers of the three most controversial high-priced sneakers were banned from the platform. The three sellers were not only prevented from selling any future products on the DEVON platform, but were also described as “suspected of maliciously influencing the fluctuation of the price of the products”.
Through its official Weibo account, the company said that the prices of the three controversial sneakers were set by the individual sellers, and that there were no or very few transactions at the set prices.
After verification, the company found that in addition to the three sneakers mentioned above, 20 other sneakers had the problem of “large price fluctuations”, so it took them off the shelves. At the same time, three sellers who were “suspected of maliciously influencing the price fluctuations of the products” (three models of overpriced sneakers) were banned.
The company will increase its monitoring of abnormal price fluctuations and will be the first to deal with those with excessive price fluctuations. Once a seller is found to be maliciously manipulating prices, “serious action will be taken, including taking down the product and blocking the number.
According to Chinese media reports, a number of Chinese domestic sneakers have been speculated to high prices on the platform. One of the sneakers of local Chinese brand Li Ning was sold for 48,889 yuan, but the manufacturer’s price was only 1,499 yuan; another sneaker of the same Li Ning was also sold for 29,999 yuan, while the original price was only 1,699 yuan.
In view of the boycott of foreign goods trend derived from the storm of sky-high prices of domestic sneakers, the Chinese Communist Party official media was forced to fire. In an article published by Xinhua News Agency on May 5, it was said that if “shoe speculation” leads to sneaker lovers not being able to buy the sneakers they want, and thus China’s domestic brands lose consumer trust, it is tantamount to “cutting off the road of upgrading domestic brands by doing everything to catch fish”.
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