Le Lézard
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/ -- 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.

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.


These press releases may also interest you

at 18:00
Nutrien Ltd. announced today its 2020 second-quarter results, with net earnings of $765 million ($1.34 diluted earnings per share). Second-quarter adjusted net earnings were $1.45 per share and adjusted EBITDA was $1.72 billion. Adjusted net...

at 18:00
GreenSky, Inc. ("GreenSky" or the "Company") , a leading financial technology company Powering Commerce at the Point of Sale®, reported financial results today for the second quarter ended June 30, 2020. "As we all continue to navigate COVID-19, we...

at 17:54
Great-West Lifeco Inc. today announced that its subsidiary, Great-West Lifeco U.S. Finance 2020, LP ("GWLP"), priced an offering of US$500 million aggregate principal amount of 0.904% senior notes due 2025 (the "Notes"). The Notes will be fully and...

at 17:48
Bunge Limited today announced that Bunge Limited Finance Corp., its wholly owned finance subsidiary, has priced a public offering of $600 million aggregate principal amount of 1.630% senior notes due 2025. The senior notes will be guaranteed by...

at 17:46
BVF Partners L.P. ("BVF") announced that on July 29, 2020, BVF, together with certain affiliates, acquired beneficial ownership or control or direction over an aggregate of 1,150,000 common shares of ESSA Pharma Inc. (the "Purchased Shares"), a...

at 17:44
The Risk Management Association has enhanced its growing array of virtual offerings with two new delivery methods of virtual courses, demonstrating its commitment to convenient and accessible training and thought leadership throughout the COVID-19...

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