Yahoo Finance StockX Q3 report shows that the sneaker resale market has truly gone global
The sneaker resale market continues to outpace expectations not only in the U.S. but around the world. Online marketplace StockX has released its Q3 report, “StockX Snapshot: Resale is a Global Game” which provides data on countries where StockX operates, including France, Italy, U.K, Germany, and Japan, among others.
StockX’s senior economist, Jesse Einhorn, tells Yahoo Finance that the online marketplace is a global platform that has benefited incredibly from international liquidity. He notes that over the past year, StockX sales from non-U.S. sellers are up 260%. In Q3, StockX had 25 million global monthly visitors.
Einhorn says this makes its marketplace resilient in the face of disruptions, such as the COVID-19 lockdown, which still looks to be a factor in the last quarter of 2020.
“Under COVID-19 and under the lockdowns, online accessibility and the benefits of an eCommerce platform like StockX only increase, and that accessibility becomes more important. The longer this goes, obviously, the more people are going to be shopping online, and the more of these trends will continue.”
Einhorn tells Yahoo Finance that diversity is a real strength of the sneaker resale marketplace, and different countries around the world have their preferences when it comes to coveted streetwear and footwear. He notes that in Japan, buyers purchase the New Balance 1300 Levi’s at 51 times the global average, and German buyers prefer the Adidas ZX 8000 by 43 times the global average. He also points out that in France and the U.K., three of the top five best selling sneakers are Jordan 1 mids.
One trend that Einhorn noted was that resellers in Japan had better access to coveted Supreme products during the COVID-19 lockdowns. It helped the country become a major exporter of Supreme streetwear to buyers throughout the world.
The online marketplace is also seeing an increase in its female clientele. Female StockX users outside the U.S. are up 130% YoY.
“I think that just speaks to both the openness of the StockX market and the ability of buyers and sellers of all different stripes to access our marketplace in ways that they weren’t able to before,” Einhorn said.
“And it also just reflects the growing increase of women and the growing centrality of women in the sneaker world. Some of the bestselling sneakers this year have been women’s exclusive releases, so it’s not surprising that we see this giant increase in female StockX users.”
Cowen Equity Research stated that the global sneaker resale market that is dominated by the likes of Nike (NKE) and Adidas (ADDYY) would reach $30 billion by 2030, and $19 billion of it will come from markets outside the U.S.
Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.
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