StockX quarterly report shows Asia and EU driving demand


StockX, the global resale platform for sneakers, streetwear and
collectables, has revealed that strong growth across the sector is being
driven by international demand, particularly from Asia and Europe.

In its quarterly review, StockX states that the resale market is
currently bucking global economic trends and has a projected growth of
15-20 percent year-on-year, meaning it will reach 23 billion pounds by
2030.

The growth is also being driven largely by non-US markets, showing that
sneaker love is universal. The non-US sneaker resale market is expected to
reach 15 billion pounds by 2030, according to data from market research
firm Cowen.

The report, which coincides with StockX’s two-year EU launch
anniversary, shows that non-US sales on StockX increased by 260 percent in
the last year and that the platform has customers from more than 200
countries.

In Q3, StockX averaged 25,000,000 global monthly users, and increased
its female customers, with non-US female StockX users jumping up by 130
percent in the last year, due to an increased offering of female sneakers
on the platform. On StockX, global sales of women’s exclusive sneakers
outpaced the overall market by 70 percent in 2020, according to the StockX
State of Resale report.

StockX reports an increase in female users outside the US

Another key growth area is the rise in users under the age of 25, which
account for 62 percent of users on the StockX international app. This
StockX states shows that Gen Z are fuelling the emergence of the next-gen
customer seeking “unique and exclusive collaborations over fast fashion”.

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As well as sneakers being an increasing trend, collectables are hot
commodities. StockX reports that non-US sales of collectables such as
puzzles, electronics and figures are 3.2 times higher than they were a year
ago.

It adds that while growth is tied to pandemic-induced shifts in consumer
shopping, brands like Kaws had amassed a cult-like following long before
Covid, with the non-US Kaws market growing by almost 200 percent over the
last year.

Sneaker trends from around the world

StockX quarterly report shows Asia and EU driving demand

When it comes to the purchasing habits of the UK, British sneakerheads
purchases were up 200 percent year-on-year, and the Jordan 1 Mid Pink
Quartz (GS) were bought at 9 times the global average. Nike dominated the
top ten sneakers, taking all but two places with its Air Jordan and Nike
Air Max styles.

With regards to streetwear, Fear Of God apparel has proven hugely
popular in the UK and is purchased 3 times more than the rest of the world.
As for sellers, the UK has emerged as a leading exporter of Adidas Yeezys.
In Q3, three of the top five most-exported sneakers were Yeezys, and the UK
was the second biggest exporter of Yeezys outside of the United States.

In France, sneaker trends were dominated by the Jordan 1 Mid and Nike
Air Max silhouettes, taking 19 spots within the top 100 sneakers in 2020.
Jordan 1 Mids are purchased at 6 times the global average, while Air Maxes
are purchased at 8 times the global average. There was also a similar
pattern in Italy, with Italian buyers more loyal to the Jordan 1 Mid than
any other market, taking 25 of the top 100 sneakers.

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While in Germany, which saw an increase of 300 percent year-on-year in
purchases, consumers were attracted to the Adidas ZX series, with seven
different sneakers making its top 100 list this year.

StockX quarterly report shows Asia and EU driving demand

Nike, Adidas, and Jordan dominate brands on StockX across the world,
however, in Hong Kong, the best-selling brand is the streetwear giant,
Supreme. Among Hong Kong buyers, Supreme market share on StockX is 4 times
larger than in the US, and the top-five best-selling streetwear items are
all from Supreme. As for sneakers, some of the most popular releases in
Hong Kong are from New Balance, with the sportswear brand’s market share in
Hong Kong being 5 times bigger than the rest of the world, and eight of the
top 100 sneakers are New Balance models.

Images: courtesy of StockX



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