Sneakers aren’t the only hot sellers in the resale market: StockX

Yahoo Finance2021-07-21

The online marketplace StockX is out with its midyear report, showing that the powerhouses of the sneaker game have some competition when it comes to the resale market. According to the report, the ...

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Invincibles
2021-07-21
Invincibles
Nice

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But we’re also seeing even greater growth among some of these smaller brands, like products like Birkenstock and like Louis Vuitton,” said Jesse Einhorn, StockX senior economist.\n“I think this really shows that there is much more diversity and maturity in the sneaker market than a lot of people might commonly think. There’s lots of threats to the dominant players. Even something like Reebok, which is actually a very large brand, it’s on our top 10 list as is Crocs. Those two brands have seen huge growth of over 200% [year over year] in both cases,” Einhorn said.\n\n\n\n  StockX Mid year 2021 report — StockX\n \n\n  StockX\n \n\nWhen it comes to a winning strategy for these brands, Einhorn tells Yahoo Finance that collaboration is key.\n“Collaborations really are the lifeblood of the sneaker game, specifically the hyped sneaker game and the two brands you mentioned, Crocs and also Birkenstocks, as well as Reebok have all pursued really strong, jarring collaborations over the past year,” he said.\n“Take the example of Crocs. They partnered with a wide range of artists, Justin Bieber, Post Malone, Luke Combs, as well as brands like KFC, and done these really outside-the-box storytelling opportunities that have connected with a much broader range of customers. Through these collaborations, Crocs is able to kinda enter a space that they previously had had absolutely no relevance. Crocs was not a brand that was top of mind for most sneaker buyers, even a couple of years ago,” Einhorn added.\n\n\n\n  StockX Mid-year report 2021 — StockX\n \n\n  StockX\n \n\nWhile sneakers might be the biggest attraction on StockX, they're not the only game in town. Collectibles have been doing big business on the platform. Einhorn noted that the highest selling product over the last year on StockX was not a sneaker but a game console — the Sony (SONY) PlayStation 5, selling more than 150,000 units. When it comes to Gross Merchandise Value (GMV), or total dollars spent, three of the top 5 items sold on StockX were gaming consoles, including the two PS5s and the Microsoft (MSFT) Xbox Series X.\n“That just goes to show these smaller verticals besides sneakers are dominant. A lot of these collectible and electronics products are actually crushing it when it comes to individual releases. Emerging category GMV is up 250%.”\nReggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.\nRead more:\n\nNike could run out of sneakers made in Vietnam following COVID spike: S&P Global\nNike continues to ‘set the pace’ as the company provides outlook through FY2025\nNike torches Wall Street estimates in Q4 as China effect less than expected, stock spikes\nKiller Mike: To advance the Black community, we must support Black businesses\nKiller Mike: ‘The dollar you save today is going to save your butt tomorrow’\n\nRead the latest financial and business news from Yahoo Finance\nFollow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube, and reddit","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":176170603,"gmtCreate":1626874505402,"gmtModify":1703479683504,"author":{"id":"3570020574722441","authorId":"3570020574722441","name":"Invincibles","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176170603","repostId":2153694050,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2153694050"}