Le LÚzard
Classified in: Science and technology, Business
Subjects: SVY, ECO

StockX Releases Mid-Year Marketplace Momentum Report Pointing to Accelerated Growth Amidst Pandemic, Surpasses $2.5 Billion in Gross Merchandise Value


DETROIT, July 13, 2020 /PRNewswire/ --áDespite 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 culturalámoments. 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 percentádecline 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.

About StockX
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.

SOURCE StockX


These press releases may also interest you

at 12:10
CloudLinux announced today that its KernelCare service for the Raspberry Pi platform adds support for the Raspberry Pi OS (previously called Raspbian), the most widely used operating system on the popular low-cost platform. KernelCare for IoT...

at 12:10
Conga, the global leader in commercial operations transformation, today announced it has been recognized and positioned by Gartner as a Leader in the "Magic Quadrant for Contract Life Cycle Management (CLM)." Conga was one of 15 vendors evaluated in...

at 12:10
The "Video Streaming Software Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering. The video streaming software market is evaluated at US$4,080.814 million for the year 2019 and is anticipated to grow at...

at 12:05
Kinetic by Windstream, a long-trusted community partner for high-speed internet, today announced a partnership with St. Johns County that will expand high-speed broadband service to almost 200 locations throughout the county. Through the partnership...

at 12:05
Madrona Venture Group, an early and acceleration stage venture capital firm based in Seattle, announced today the first recipients of a new prize for meaningful research in key investment areas for the firm, Artificial Intelligence and Machine...

at 12:02
UL, the global safety science leader, has rolled out a new software tool providing employers with streamlined digital tracking and recording capabilities for their employees' COVID-19 vaccinations as return-to-work programs gear up across the United...



News published on 13 july 2020 at 10:21 and distributed by: