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http://dx.doi.org/10.7838/jsebs.2021.26.3.155

A Study on Resolving Barriers to Entry into the Resell Market by Exploring and Predicting Price Increases Using the XGBoost Model  

Yoon, HyunSeop (Department of e-Business, School of Business, Ajou University)
Kang, Juyoung (Department of e-Business, School of Business, Ajou University)
Publication Information
The Journal of Society for e-Business Studies / v.26, no.3, 2021 , pp. 155-174 More about this Journal
Abstract
This study noted the emergence of the Resell investment within the fashion market, among emerging investment techniques. Worldwide, the market size is growing rapidly, and currently, there is a craze taking place throughout Korea. Therefore, we would like to use shoe data from StockX, the representative site of Resell, to present basic guidelines to consumers and to break down barriers to entry into the Resell market. Moreover, it showed the current status of the Resell craze, which was based on information from various media outlets, and then presented the current status and research model of the Resell market through prior research. Raw data was collected and analyzed using the XGBoost algorithm and the Prophet model. Analysis showed that the factors that affect the Resell market were identified, and the shoes suitable for the Resell market were also identified. Furthermore, historical data on shoes allowed us to predict future prices, thereby predicting future profitability. Through this study, the market will allow unfamiliar consumers to actively participate in the market with the given information. It also provides a variety of vital information regarding Resell investments, thus. forming a fundamental guideline for the market and further contributing to addressing entry barriers.
Keywords
Resell; Resell Market; XGBoost Algorithm; Prophet Time Series Model;
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