Price of LeBron’s Nikes Is Business Decision

Loose Ball: People who can't afford expensive items often buy them anyway, so don't blame LeBron.

According to SportsOneSource,  a market-research tracking firm, sales of sneakers that retail for more than $100 are up 30 percent on the year. Sales of basketball shoes that cost more than $100 are up 50 percent. Analyst Matt Powell told ESPN that the price for James’ Nike+ tech version — which would be a limited edition — likely will cost closer to $290 than the reported $315.

Whether they’re $100, $200 or $300, the principle remains the same, and we need to drill this lesson into our young people: Genuine self-esteem isn’t based on material possessions; it’s based on values and character traits.

Marketers are in the business of tricking consumers into believing that “things” lead to happiness. If $300 sneakers are a huge success, that’s the market speaking. Don’t blame Nike and James for listening.

What they hear is up to everyone else.

Deron Snyder’s Loose Ball column appears regularly on The Root. Follow him on Twitter and reach him at BlackDoor Ventures, Inc.

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