14 Jan StockX Sees Record Growth in 2020
StockX said it recorded $1.8 billion in gross merchandise value (GMV) in 2020 and closed more than 7.5 million trades during the year.
The marketplace provided an update on the business while issuing a new report titled StockX Snapshot: Current Culture Index, that identifies major movers across the footwear, apparel, collectible, and electronics categories for 2020 and highlights the trends shaping the future of resale.
The report follows a $275 million Series E funding round that values the fast-growing platform at $2.8 billion post-money.
“2020 was a pivotal year for so many reasons. While it made for extraordinary challenges, it also brought unprecedented growth and opportunity as the world shifted almost exclusively to an online commerce experience. Following a 75 percent year-over-year revenue increase in our third quarter, we saw even higher growth in Q4 thanks to a record-breaking holiday season,” said Scott Cutler, StockX CEO. “This paradigm shift and the incredible work of our team to remain open, stable and strong through the toughest of times, propelled StockX to extraordinary growth in 2020. We’re excited to build on the momentum in 2021 and continue to deliver a next-gen experience to buyers and sellers around the world.”
Highlights from StockX’s 2021 Current Culture Index include:
- Jordan Remains No. 1, New Balance and Yeezy Move Up: Based on total trades in 2020, the Top 4 sneaker brands on StockX in 2020 mirrored 2019’s rankings: Jordan Brand (No. 1), Nike (No. 2), Adidas (No. 3), and Converse (No. 4). However, New Balance moved up one spot to No. 5 in 2020, marking the first time in StockX history that New Balance has ranked as a Top 5 sneaker brand. A new pandemic-induced preference for comfort helped Yeezy, Kanye West’s independent brand., move up 10 spots to No. 6 on the list. In 2020, sales of Yeezy slides on StockX surged 400 percent. The Top 3 silhouettes were once again the Air Jordan 1, the Yeezy 350 by Adidas and Nike’s Air Force 1.
- Mid-Size Apparel Brands Make Waves: Supreme still holds the No. 1 spot as the best-selling streetwear brand on StockX, but mid-size brands made major gains in 2020. Cactus Jack moved up two spots from No. 4 in 2019 to No. 2 in 2020, Fear of God moved up two spots from No. 5 in 2019 to No. 3 in 2020, and Anti Social Social Club moved up an 53 spots to No. 6 on the list. Meanwhile, BAPE moved down the list, falling two spots from No. 2 in 2019 to No. 4 in 2020.
- Global Growth Drives Record GMV: In 2020, StockX welcomed more than 200 million visitors and saw global active buyers increase by more than 90 percent. This growth helped the company achieve $1.8 billion in gross merchandise value for the year, bringing its lifetime GMV to $3.8 billion.
- Electronics and Collectibles Lead New Category Growth: Category expansion and diversification efforts were a key driver of growth overall, with recently launched categories including electronics and collectibles seeing strong sales. StockX officially launched trading cards in 2019 as part of its collectibles category, and sales surged by 4,000 percent in 2020. Electronics, the platform’s newest category, has also seen rapid growth with next-gen gaming consoles ranking among the top products on StockX in 2020 based on GMV.
- Seller Acceleration: More than half (60 percent) of StockX’s active sellers in 2020 made their first sale on the platform last year. In addition, the number of sellers located outside the U.S. more than doubled in 2020, and accounted for more than 30 percent of StockX’s total GMV for the year.