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.

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