DETROIT, Jan. 13, 2021 /PRNewswire/ -- In a new report out today, StockX reveals the products, brands, facts and figures that defined 2020 as well as predictions for the year ahead. Titled StockX Snapshot: Current Culture Index, the report identifies major movers across the footwear, apparel, collectible and electronics categories and highlights the trends shaping the future of resale. In its latest Snapshot, the company also shares key performance metrics, noting it recorded $1.8 billion in gross merchandise value (GMV) in 2020 and closed more than 7.5 million trades during the year. 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% 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-four 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-five 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%. The top three 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 impressive 53 spots to land at 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%. 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 like electronics and collectibles seeing particularly strong sales. StockX officially launched trading cards in 2019 as part of its collectibles category, and sales surged by 4,000% 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%) 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 US more than doubled in 2020, and accounted for more than 30% of StockX's total GMV for the year. As global growth and category diversification efforts create new opportunities, a growing number of people will use StockX to turn their passion into profit.
To view the full report, please visit https://stockx.com/news/current-culture-index-2021.
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 transparency 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 13 offices and authentication centers around the world, and facilitates sales in more than 200 countries and territories. Learn more at www.stockx.com.