Shoemakers are already charging what they believe to be the highest price they can regardless of costs. They don't believe they can raise the price, or they already would have.
The highest price you can charge for shoes made in China is different than that of shoes made in the USA. Whether or not it's enough to support a market is a different question, but it's an undeniable difference.
Personally, I'm willing to pay around 2X to get American made goods, and routinely go out of my way to do so.
Unfortunately, the consumers who matters is the rather less well off one who is making decisions based on how much money they have in their bank account today. A number which is rarely large, if the stats are to be believed.
I agree with the sentiment. But I'm overpaid. Most people aren't willing to double their expenses on something because they want to support a political outcome. They would quickly run out of money.
It's the reason why so many products advertise 'sustainability' or 'fair trade'. It differentiates the product. I was trying to make the general point that how items are produced does actually matter to consumers, and a large population are willing to pay for moral manufacturing, myself included.
On Nike's side, I see it at pure greed.
For what they charge, they could pay an American Worker $40/hr, plus medical? (Yes--I pulled that $40 out my arse.)
My sister has two shoe stores in LA. She made everything here prior to Covid.
She paid her employees $10/hr, and offered zero benefits.
Pre-covid she was a multimillionaire.
(To anyone selling a craft, don't skimp on stuff people throw away, like bags, tissue, fancy price tags. It's about branding. Oh yea, sometimes the higher the price--the more they want it. My sister is a cutthroat businesswoman. I always knew she would be wealthy. She's not a great person though.)
Not sure what sneaker heads have to do with anything, as they are not a meaningful portion of the broad market for shoes.
Nike has a ~10% profit margin, and that would be a liberal definition of pure greed, relative to other businesses’ profit margins. Especially considering they have no lock in or moat for their product other than people’s individual desire to buy them.
They pay for the hype not for the quality.