StockX, the online resale exchange for sneakers and streetwear, counted 25 million global monthly visitors to its platform in the third quarter and “continues to grow at a remarkable rate” as the resale market expands globally.
In a third-quarter snapshot looking at its international performance, StockX noted that sell-side transactions outside of the U.S. increased by 260 percent in the year to date, while non-American female users of its platform rose by 130 percent in the same period.
Outside of the U.S., 62 percent of StockX users in the third quarter were below the age of 25. Top international markets for the platform include France, Italy, Germany, the U.K., Japan, and Hong Kong.
The company also released some data regarding 2019, indicating that the primary sneaker market totaled $100 billion and the secondary market $6 billion. It added that 29 percent of footwear were purchased online.
Cowen Equity Research forecasts the value of the global sneaker resale market will rise to $30 billion by 2030, of which $19 billion will be from non-U.S. markets.
Last year, StockX boasted a gross merchandise value of over $1 billion and sales in 197 countries and territories. It listed France, Italy, the U.K., Spain, Germany, China, the Netherlands, South Korea, Japan and Qatar as its fastest growing markets in 2019.
It also detailed the best selling shoes on its sneaker market, where the Jordan 1 model had a market share of 23 percent and an average resale price of $260, followed by Yeezy 350 with a 18 percent market share and a $280 average resale price and Air Force 1, with a 6 percent market share and $274 average resale price.
On StockX’s sneaker market, Jordan was the most popular brand, followed by Adidas, Nike, Converse, Balenciaga, Vans and New Balance. All brands traded at premiums on the resale market, with Converse peaking at 64 percent, followed by Jordan and Vans at 61 percent. The only brand to resale at discount was Balenciaga, at minus 6 percent. However, it was the brand with the highest average resale price, at $699, among the market leaders, while Vans had the lowest at $121, followed by Converse at $183.
Regarding the trends for 2020, StockX noted that the collaborations with the American rapper Travis Scott propelled the Jordan brand to the top spot in the 2019 sneaker ranking. The company expects the artist’s projects with Nike will help consolidate his dominance in the secondary market this year.
The company noted that exclusive sneaker releases nearly doubled the category’s share in the secondary market last year and the popularity of women’s sneakers is expected to increase in 2020.
StockX added that smaller brands like New Balance became major players in the resale market last year thanks to high-profile endorsers and 2020 should be another “big year” for the brand.
Finally, the company claims that nearly a third of Gen Z consumers identify themselves as “sneakerheads” and an “overwhelming majority” have chosen StockX as their preferred marketplace. The company, which describes itself as a “stock market of things,” was valued at $1 billion in a 2019 fundraising round.