StockX’s ‘The State of Resale’ Report Reveals Sneaker and Streetwear Landscape Shakeup

StockX’s ‘The State of Resale’ Report Reveals Sneaker and Streetwear Landscape Shakeup
StockX’s ‘The State of Resale’ Report Reveals Sneaker and Streetwear Landscape Shakeup

Challenger brands eat into mainstay market share as consumer behavior shifts  

DETROIT, Aug. 22, 2024 /PRNewswire/ — Current culture marketplace StockX today released a trend report – The State of Resale – revealing new data around how fast-growing challenger brands like Asics are superseding mainstream giants like Nike, Jordan, and Supreme. Based on global sales data from the first seven months of 2024 compared to the same period in 2023, the analysis highlights never-before-seen metrics and key trends in the broader resale space.

“Shifting consumer preferences and purchasing power coupled with dramatic changes in the brand landscape are driving substantial market shifts in the marketplace,” said StockX CEO Scott Cutler. “The inspiration and innovation coming out of many challenger brands is changing market share and preference from the traditional leaders in the resale marketplace, creating exciting opportunities for consumers. Brands that are creating culturally relevant collections backed by innovation will lead in this environment.”

Key takeaways and industry insights from StockX’s expert analysis include:

  • The sneaker resale market isn’t dead: Despite headlines claiming otherwise, StockX data shows a diversified portfolio of brands that are locking in the top spots for year-over-year growth including Asics (+589%), adidas (+88%), and Yeezy (+23%). The latter depicts the complexities of shopper behavior, where virtue signaling falls to the wayside, in favor of cultural clout. The sneaker resale market for the usual top-charting mainstream brands like Nike and Jordan however has slowed, as market share has dropped 11% and 12% respectively from 2023 to 2024.
  • Sneaker innovation is king: The days of relying on one silhouette no longer drives heat across an entire brand. The Nike Dunk, as an example, formerly reigned supreme, but data shows a dip in popularity with trades down 41% year-over-year. Similarly, cornerstone silhouettes from brands like Jordan and New Balance have dropped in average price, such as Jordan 1 (-18%) and New Balance 550 (-25%). Conversely, Asics, which has reimagined its older silhouettes such as the Gel-1130 and Gel-Kayano 14, have seen a huge increase in growth on StockX (+589%).
  • Celebrity athletes for the win: Signature sneaker lines helmed by legacy NBA giants Kobe Bryant, LeBron James, and Kevin Durant drove Nike Performance Basketball, up 46% year-over-year. The mamba mentality starts in the sole with the Kobe Protro in the lead with a 512% trade increase, followed by Devin Booker’s Book 1 (+14K trades this year-to-date with a +18% price premium) and KD (+6K trades this year-to-date). The WNBA is also heating up with superstar Sabrina Ionescu’s signature Sabrina 1 silhouette (+3K new trades year-to-date) garnering new attention relative to launch.
  • The new face of streetwear: With streetwear giants Supreme (-3%) and BAPE (-7%) down over the past year, Jerry Lorenzo’s Fear of God has seen a spike in popularity (+18%) over that same time period. The brand’s ESSENTIALS line continues to be a fan favorite while more and more brands also enter the fold. On StockX, the apparel category has grown exponentially, jumping from an offering of 117 brands in 2020, to 249 brands available to shop now.

For more information about StockX, please visit www.stockx.com.

About StockX
StockX is proud to be a Detroit-based technology leader focused on the large and growing online market for sneakers, apparel and accessories, electronics, collectibles, and trading cards. StockX’s powerful platform connects buyers and sellers of high-demand consumer goods from around the world using dynamic pricing mechanics. This approach affords access and market visibility powered by real-time data that empowers buyers and sellers to determine and transact based on market value. The StockX platform features hundreds of brands across verticals including Jordan Brand, adidas, Nike, Supreme, BAPE, Off-White, Louis Vuitton, and Gucci; collectibles from artists including KAWS and Takashi Murakami; and electronics from industry-leading manufacturers Sony, Microsoft, Nvidia, and Apple. Launched in 2016, StockX employs over 1,000 people across offices and verification centers around the world. Learn more at www.stockx.com.

SOURCE StockX

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Originally published at https://www.prnewswire.com/news-releases/stockxs-the-state-of-resale-report-reveals-sneaker-and-streetwear-landscape-shakeup-302228743.html
Images courtesy of https://pixabay.com

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