“I was sitting in the parking lot at a mall in downtown Toronto, and a man came up to me and said, ‘Are you in the United States?'” he said.
“He said, “I can buy you a pair of shoes.
They’re for sale.””
While women are typically asked to pay the entire purchase price, some men are able to profit from the trend by offering to sell them for $25, $30 or even $50 depending on their taste.”
I said, OK, but I’ll be there at 6:30 p.m. to pick them up.”
While women are typically asked to pay the entire purchase price, some men are able to profit from the trend by offering to sell them for $25, $30 or even $50 depending on their taste.
This practice has come to be known as the “golden triangle” as the most successful are selling their own shoes for a much higher price than the retail price, while the less successful can often earn more than what they pay for the shoes.
“You have this one guy in the mall who has a lot of money and wants to sell his shoes for $50,” he said, describing a typical example.
“So he goes to the store and buys a pair for $30 and sells them for a few bucks.
And that’s great.”
In the case of the man selling his own shoes, the customer has already paid the entire cost, so the rest of the transaction is free.
This is not unique to Canada.
There are even other instances where men are charging women to take part in their shopping.
The trend has also been reported in the US, where a man who was selling men’s shoes for more than $1,000 to a woman in Chicago for a pair, according to ABC News, had to pay a $20 commission for the service.
In fact, the men’s shoe market is estimated to be worth more than half a billion dollars.
In the US the phenomenon has been so prevalent that even Nike has been caught selling its men’s sneakers for a “premium” price.
However, there is some hope for the future.
In a bid to help combat the rising prices of these “goldend triangles”, the Canadian Retail Consortium (CRC) launched a program in November 2018 to encourage men to “stop buying their own.”
The program, which has been rolled out across all provinces, is designed to help retailers increase the sales of their own brands.
The initiative aims to encourage retailers to use their expertise and know-how to create an online marketplace where they can market their products and services to customers.
According to the CRC, more than 70% of Canadian retailers have already implemented the initiative.
“We are seeing increased demand for our services and services are being used by many retail businesses to attract new customers and to make money from their business,” the group said in a statement.
“The increased demand has helped to drive down the price of our products and helped to bring down our cost of doing business.”
It is estimated that Canadian men are spending $3 billion a year on shoes, which is a jump from the $1.5 billion they spent on shoes in 2016.