Jordan tops StockX sneaker charts amidst resale boom
Following a year that saw a boom in online resale, stock exchange-inspired marketplace StockX has published “StockX Snapshot: Current Culture Index,” a trend report revealing that Jordan was once again the most popular sneaker brand on the platform in 2020.
Indeed, the top four sneaker brands on StockX last year were the same as in 2019, with Nike, Adidas and Converse, claiming second, third and fourth place, respectively. However, fifth place was taken by New Balance, the first time that the brand has ranked among StockX’s top five sneaker brands.
Kanye West’s Yeezy came in sixth place, rising 10 places since 2019, thanks in part to increased demand for comfortable styles sparked by the Covid-19 pandemic: sales of the brand’s Yeezy slides shot up 400% in the last year.
As in 2019, the three most popular sneaker models in 2020 were the Air Jordan 1, the Yeezy 350 by Adidas, and Nike’s Air Force 1.
In terms of apparel, the top brand on the platform last year was once again cult streetwear label Supreme, but StockX was also keen to highlight the strong progress of a number of mid-sized brands.
Compared to 2019, Cactus Jack moved up two places to become the second most popular apparel brand, while Fear of God, jumped from fifth to third place. Elsewhere, Anti Social Social Club surged 53 spots to take sixth place. BAPE, on the other hand, slipped two places from its 2019 ranking, taking fourth place in 2020.
StockX’s report also details the platform’s own progress in 2020, when the massive shift of consumers online due to the Covid-19 pandemic led to strong gains for e-commerce companies, especially those specializing in resale, a trend that has been gaining momentum in recent years.
In 2020, StockX welcomed over 200 million visitors, with the platform’s global active buyers increasing more than 90% over the course of the year. Thanks to this growth, the company posted $1.8 billion in annual gross merchandise volume, bringing its lifetime GMV to $3.8 billion.
60% of the platform’s active sellers in 2020 made their first sale through StockX last year, while, thanks to the company’s international expansion efforts, the number of sellers located outside the U.S. more than doubled, accounting for over 30% of the platform’s annual GMV.
“2020 was a pivotal year for so many reasons; while it made for extraordinary challenges, it also brought unprecedented growth and opportunity as the world shifted almost exclusively to an online commerce experience,” explained StockX CEO Scott Cutler in a release. “Following a 75% year-over-year revenue increase in our third quarter, we saw even higher growth in Q4 thanks to a record-breaking holiday season.”
The platform’s recent category expansions into electronics and collectibles also made significant contributions to the company’s overall growth. Trading cards were launched as part of the collectibles category in 2019 and sales of the products rose an impressive 4,000% in 2020.
Electronics, which is the platform’s newest category, has seen strong growth as well, with next-gen gaming consoles proving to be among the top products on StockX in 2020 in terms of GMV.
As the platform pushes forward with its development plans, StockX closed a $275 million funding round at the end of last year, bringing its total funding up to $2.8 billion.
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