StockX, the popular sneaker marketplace, has released its second Snapshot report, providing insights into its performance during the Covid-19 pandemic. Despite the crisis negatively impacting many businesses, StockX has achieved significant growth. In the first half of the year, the company reported a lifetime gross merchandise value (GMV) of over $2.5 billion. Notably, Q2 2020 was particularly successful, with 18 of its top 20 sales days occurring during this period, excluding promotional and holiday sales.

Even in the midst of widespread discounting in the fashion sector, StockX saw a 6% increase in resale prices for the top 500 sneakers between February and June. The demand extended beyond the US, as Europe witnessed a sales increase of over 200% year-on-year. Among the popular sneakers, Air Jordans stood out, with StockX successfully authenticating one million pairs in the past six months, contributing to a lifetime total of 3.5 million pairs. The brand experienced a 40% increase in sales due to the success of the Michael Jordan docuseries, “The Last Dance.” Additionally, the Jordan 13 Flint became the fastest-selling sneaker in StockX’s history, with 40,000 pairs sold. Influencer Kylie Jenner also played a role in driving sales, as she promoted the Nike SB Dunk Ferris Bueller on her Instagram, resulting in a 50% increase in sales.

Not only have smaller brands like New Balance and Anti Social Social Club experienced significant growth, surpassing the wider market by 100% in the past six months, but women’s shoe sales have also risen by 70% over the past year. Interestingly, while the majority of StockX’s customers are aged 24 and under, the company has seen a 30% increase in sales to those aged 45 and above within just six months.

StockX is primarily known as a secondary sneaker marketplace, but it also offers apparel, accessories, and collectibles. Interestingly, the company observed unexpected growth in categories such as puzzles (582% increase in GMV), slides (364% increase in GMV), and face masks (282% increase in GMV) after lockdowns were announced. This reflects the changing buying behavior under the new normal. Additionally, sweat shorts saw a 179% increase in sales, and track pants saw a 5% increase.

Overall, StockX has exhibited resilience during the Covid-19 pandemic, with impressive sales figures and strong demand, particularly for Air Jordans. Its expansion into other product categories has also yielded positive results, highlighting its ability to adapt to changing market conditions. With an expanding customer base and continued popularity among sneaker enthusiasts, StockX is well-positioned for future growth.

Useful links:
1. StockX Website
2. StockX Snapshot Report