Impressive numbers, as many zeros as the Olympic rings: we are talking about the crazy growth of the reselling market, with an extraordinary boom that started in 2020 and shows no signs of slowing down. This emerges from the Current Culture Index, the annual report by StockX which acts as a true barometer of both trends and the economic performance of the fashion industry and beyond (this year StockX has also added categories dedicated to electronics and collectibles) in its resale variant. In 2020, the reselling platform reached 1.8 billion dollars in gross merchandise value and completed over 7.5 million transactions. It recorded over 200 million visitors and saw a 90% increase in the number of active buyers globally. Not just numbers but also names: the report reveals the products, brands, events, and figures that have most defined 2020, while also providing predictions for the year to come.
A 2020 of great sales numbers
Air Jordan 5 Retro Fab Five
The performance of the year that has just ended is nothing short of remarkable: a gross merchandise value of 1.8 billion, over 7.5 million commercial transactions on the platform, and a Series E funding of $275 million which brought the company’s valuation to $2.8 billion post-money.
“2020 was a crucial year for many reasons. Despite presenting unprecedented challenges, it also brought unprecedented growth and opportunities, considering that the way people shop has switched almost exclusively online. After a 75% increase in revenue in the third quarter on an annual basis, we witnessed even greater growth in the fourth quarter, thanks to record-breaking holiday sales,” stated Scott Cutler, CEO of StockX. “This paradigm shift and the incredible work of our team to stay active, stable, and strong in the most difficult times have propelled StockX towards extraordinary growth in 2020. We are excited to leverage this positive trend in 2021 and continue to provide a high-quality experience to buyers and sellers worldwide.”
Upcoming trends and the top three sneaker models sold in 2020
Air Jordan 3 Retro DJ Khaled Grateful
The Current Culture Index highlights the trends that are anticipated for 2021. The major players will be in the footwear, streetwear, collectible, and consumer electronics landscapes. The trends that will become global desirables according to the 2021 StockX Current Culture Index are numerous. In terms of brands, Jordan brand remains steadfast at number 1, but New Balance and Yeezy are climbing the ranks. Looking at the total commercial transactions of 2020, the top four sneaker brands on StockX in 2020 faithfully reflect the rankings of 2019: Jordan brand in first place, Nike in second, adidas in third, and Converse in fourth. New Balance has, however, climbed one position to reach fifth place in the rankings in 2020, and for the first time in StockX’s history, the brand has also ranked among the top five sneaker brands. Yeezy, Kanye West’s independent brand, has risen ten positions to reach sixth place in the rankings, likely due to a new trend more oriented towards homewear comfort following the pandemic. In 2020, Yeezy sales on StockX increased by 400%. The top three best-selling sneaker models were once again the Air Jordan 1, the adidas Yeezy 350, and the Nike Air Force 1.
Emerging clothing brands are gaining more and more success
An infographic from the 2021 StockX Current Culture Index
Supreme is still at the top of the podium as the best-selling streetwear brand on StockX, but it should be noted that medium-sized brands have made significant gains in 2020. Cactus Jack has risen two positions (from fourth in 2019 to second in 2020), Fear of God has risen two positions (from fifth in 2019 to third in 2020), while Anti Social Social Club has risen a whopping 53 positions, rejoining the top 10 and landing straight at sixth place.
Consumer electronics and collectibles, new product categories
An infographic from the 2021 StockX Current Culture Index
In 2020, StockX introduced new product categories: that of consumer electronics – launched at the end of November 2020 – and one dedicated to collectible items. Both experienced particularly high sales. In 2019, StockX had first introduced the collectible card category, and sales in 2020 increased by 4,000%. Electronics products also saw rapid growth with next-generation gaming consoles (ranked among the best products on StockX in 2020).
The number of sellers on the platform continues to increase
Adidas Human Race NMD Pharrell x Chanel
More than half (precisely 60%) of StockX’s active sellers in 2020 made their first sale on the platform in the past year. But that’s not all: the number of sellers outside the United States more than doubled in 2020 and accounted for over 30% of StockX’s total gross merchandise value for the entire year. The platform’s global growth and the diversification of categories will create new opportunities for 2021, allowing an increasing number of people to leverage StockX to monetize their passions.