In a mid-year Snapshot of its “Culture Index,” which was first launched last year, StockX reported a 90 percent increase in the gross merchandise value (GMV) going through its marketplace in the first half of 2021, led by a growth of 250 percent from “emerging categories” such as gaming consoles, video games and other electronics.
The online reseller also mentioned increases of 100 percent and 90 percent in the number of buyers outside the U.S. and those aged over 45, respectively. The total number of “lifetime” buyers reached the milestone of 1.6 million as of June 30, while the number of lifetime sellers went up to one million.
The total number of buyers for collectibles and trading cards went up by 260 percent, led by an increase of 840 percent for Kanye West collectibles. Spalding basketballs showed an increase of 410 percent.
Led by a 510 percent increase in trades for its Club C sneaker, Reebok was one of the fastest-growing “emerging brands” on StockX, but Birkenstock, Louis Vuitton, Crocs and Alexander McQueen scored better in this category.
Jordan, Nike and Adidas continued to dominate the sneaker segment. Among the fastest-growing sneaker silhouettes, the Nike Dunk and the New Balance 992 jumped by 990 percent and 400 percent in the number of trades, respectively.
The Jordan brand was also one of the fastest-growing players in the apparel & accessories segment, but some fashion brands performed better. StockX pointed to a 750 percent increase in sales of bucket hats, led by collaborations between Adidas and Ivy Park, Nike and Stüssy, and Kith x New Era.
StockX was said to be planning to go public next year after a founding round in April that valued the company at $3.8 billion. Launched in 2016, it reported revenues of more than $400 million and a GMV of $1.8 billion for 2020. The number of buyers grew by more than 90 percent, and the more recent growth was mainly attributed by the company’s management to an expansion in the categories covered, which tend to address the same young buyers.