Nike's resale market share climbs to 72.3% in September as Jordan brand drives growth

Citi's latest data shows that Nike (NKE) saw its transaction volume share in the sneaker secondary resale market rise to 72.3% in September 2026, up 63 basis points from August and above the 70.8% average recorded from June through August. The Jordan brand was the main factor behind this recovery in share.

However, this performance contrasts with the weakness in Jordan's business that Nike previously disclosed. In its fiscal year 2027 first quarter earnings report, the company stated that the Jordan brand still needs improvement, with revenue for the quarter declining approximately 15% to 19% year over year.

Jordan drives resale share recovery, but remains below historical peak

Citi noted that Nike's transaction volume share in the secondary sneaker resale market reached 72.3% in September, indicating a relative improvement in trading activity for its products in the secondary market. This level represents a 1.5 percentage point increase from the June-to-August average, though it remains below the 77.0% peak set in October 2023, which was also when Citi began tracking this metric.

In terms of brand composition, Jordan contributed the majority of September's market share gain, serving as the primary driver of Nike's improved performance in the resale market.

Secondary market demand improves, contrasting with Jordan's actual revenue decline

It is worth noting that while Jordan's resale market performance improved, its official sales business continues to face pressure. Nike management previously stated during its fiscal year 2027 first quarter earnings briefing that Jordan is one of the businesses requiring priority improvement, with the brand's revenue for the quarter declining approximately 15% to 19% year over year.

This means that Jordan's relative trading performance in the secondary sneaker market has diverged from its revenue trajectory in the primary retail market. The rise in resale market share reflects an improvement in Jordan's relative position in secondary market transactions and does not directly indicate that new shoe sales revenue has returned to growth.

For Nike, whether Jordan can convert secondary market trading activity into new product sales growth will be an important factor in assessing the degree of improvement in the brand's operations.