StockX Releases Mid-Year Report Indicating Increased Demand For Current Culture Products
Latest Current Culture Index reveals fastest-growing brands including Crocs, Reebok, and Telfar; spotlights year-over-year trade increases for artists Kanye West, Daniel Arsham, and Travis Scott
DETROIT, July 20, 2021 /PRNewswire-PRWeb/ -- In a report out today, StockX details the fastest-growing brands across core categories including sneakers, electronics, collectibles, apparel and accessories. The mid-year edition of StockX's Current Culture Index also reveals that as of June 2021, the platform has surpassed 6.5 million lifetime buyers and 1 million lifetime sellers, demonstrating continued interest in and demand for current culture goods.
Following successful category expansion efforts, the company saw combined GMV for apparel, accessories, electronics, collectibles, and trading cards increase by more than 250% year-over-year. During the same time frame, collectible and trading card buyers increased by more than 260%.
"During the first half of the year we reached new milestones for both buyers and sellers, which is a direct result of our category expansion efforts. Leveraging feedback from both sides of our marketplace, we've curated a comprehensive offering of current culture products that will meet the growing demand we're seeing from our global customer base," said StockX CEO Scott Cutler. "As this report shows, there are strong synergies between our core sneaker enthusiasts and those customers who are passionate about apparel, accessories, collectibles, and gaming. We're bullish on the opportunity we have to serve this growing market — the next gen consumers who are shifting the paradigm of how we spend, collect, and invest."
Highlights from StockX's July 2021 Current Culture Index include:
Slides, Designer Sneakers, and Reebok Rank Among Fastest-Growing Footwear
While Jordan Brand, Nike and adidas continue to dominate the category, sales of sneakers from fashion houses Louis Vuitton (+440%) and Alexander McQueen (+370%) saw faster year-over-year growth. Birkenstock (+610%) and Crocs (+430%) also saw big upswings as comfort remains a priority for consumers. Reebok trades increased 210%, bolstered in part by the popularity of the Club C silhouette, which saw trades jump 510% year-over-year.
Collabs Boost Apparel and Accessories Brands
Chrome Hearts trades increased a staggering 2,200% thanks to successful artist collaborations. In the accessories category, Telfar is on its way to having another banner year in 2021 — sales are up 260% and the brand's coveted shopping bags continue to sell out in minutes.
Artists Drive Growth in Collectibles Category
In the collectibles space, contemporary artist Daniel Arsham saw sales of his works jump by more than 700% year-over-year. Sales of collectibles from Kanye West (+840%) and Travis Scott (+200%) have also increased, catapulted by West's vinyl records and Scott's brand collaboration merchandise.
Global Expansion Leads to 6.5 Million Lifetime Buyers
StockX's expansion outside the US is helping fuel continued growth, with non-US buyers more than doubling in 2021 compared to 2020. StockX also saw a more than 90% increase in consumers 45 and older, though the majority of its audience (70%) is under the age of 35.
To view the full report, please visit https://stockx.com/about/sx-market-insights/stockx-snapshot-cci-july-21.
About StockX
StockX is proud to be a Detroit-based technology leader focused on the large and growing online market for sneakers, apparel, electronics, accessories, and collectibles. StockX's powerful platform connects buyers and sellers of high-demand consumer goods from around the world using dynamic pricing mechanics. This approach brings unparalleled access and market visibility powered by real-time data that empowers buyers and sellers to determine and transact based on fair market value. The StockX platform features hundreds of brands across verticals including Jordan Brand, adidas, Nike, Supreme, BAPE, Off-White, Louis Vuitton, Gucci; collectibles from artists including KAWS and Takashi Murakami; and electronics from industry-leading manufacturers, Sony, Microsoft, Nvidia, and Apple. Founded in 2016, the company employs more than 1,000 people in 14 offices and authentication centers around the world, and facilitates sales in more than 200 countries and territories. Learn more at http://www.stockx.com.
Media Contact
Katy Cockrel, StockX, +1 3135504483, [email protected]
SOURCE StockX
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