DETROIT, July 13, 2020 /PRNewswire/ -- Despite unprecedented, industry-wide challenges due to the global pandemic, StockX, the first-ever 'Stock Market of Things,' announced it has now surpassed $2.5B in gross merchandise value (GMV) and has experienced its biggest months of sales in the second quarter. The end of the first half of the year also marks 10 million lifetime trades for the leading marketplace for sneakers, apparel, accessories and collectibles, whose transparency and access to a wide-ranging catalog of high-demand consumer goods makes it uniquely qualified to thrive in "the new normal." The company today issued a mid-year report, providing a snapshot of StockX's accelerated platform growth and record sales as well as the major cultural moments over the past six months.
"The first half of the year presented unprecedented challenges with dynamic shifts in how and where consumers spend their money," said Scott Cutler, CEO of StockX. "As is the case for any live marketplace, real-life events have ramifications on market performance. These dynamic shifts in consumer behavior enables StockX to flex the model, and deliver in these major cultural moments. Platforms that actively disrupt commerce are uniquely positioned to meet the consumer where they now are, which is one of the key reasons we've seen this recent growth."
While StockX continues to experience exponential growth in transactions and users, this report arrives at a time when many consumer brands are struggling. According to a recent report from Cowen Equity Research, the average consumer brand saw a 9 percent decline in search interest after March lockdowns, as StockX accelerated with double-digit gains. Additionally, the platform recently took the top spot in the "new luxury" category in a report from ecommerce marketing platform Klaviyo and retail media research startup Future Commerce, highlighting 81 brands that are shaping the future of ecommerce. This mid-year StockX Snapshot follows the brand's January 'State of Resale' report highlighting the fact that it had surpassed $1B in GMV in 2019 alone.
As StockX continues to disrupt commerce and shape the future of the industry, this latest report discloses insights into its tremendous growth and highlights platform trends that speak to the massive shift in consumer behavior and rise of the Gen Z consumer. A few highlights from the report include:
For the full report, visit https://stockx.com/news/snapshot-market-movers.
StockX is proud to be a Detroit-based technology leader focused on the large and growing online resale marketplace for sneakers, apparel, accessories and collectibles. As the world's first "Stock Market of Things," 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, Rolex and collectibles from artists including KAWS and Takashi Murakami. Founded by Dan Gilbert, Josh Luber and Greg Schwartz in 2016, the company employs nearly 800 people in more than 10 offices and authentication centers around the world, and facilitates sales in 197 countries and territories. Learn more at www.stockx.com.
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