StockX has shared its mid-year 2021 report on resale culture and emerging trends in the secondary market. In line with StockX’s findings over the past 18 months, the growth of female users was once again a big topic. Similarly, StockX highlighted the fastest-growing brands on its platform, showing just how diverse the resale landscape is becoming.
Following the start of the pandemic, each new StockX user was 2 times as likely to be a woman, according to the data. Additionally, the demographics got even more diverse over the past 12 months, as there was a 100 percent increase in non-US buyers. Around 70 percent of the platform’s users are still under the age of 35, however, the number of consumers in the bracket 45 and over has increased by 90 percent, showing that some older heads are starting to get more involved.
As for brand growth, five brands that don’t belong to the traditional sportswear powerhouses made the biggest leap. Birkenstock (+610 percent), Louis Vuitton (+440 percent), Crocs (+430 percent), Alexander McQueen (+370 percent), and Reebok (+210 percent) saw huge trade growth over the last year.
There are several reasons for this, ranging from the types of products these brands offer, to changing consumer behavior and trends, some of which StockX’s chief economist Jesse Einhorn outlines for Highsnobiety.
“Even as people continue to work from home and more consumers favor function and comfort above all else, what is really propelling brands like Crocs and Birkenstock forward is their aggressive collaboration strategy,” explains Einhorn. “A few years ago, Crocs and Birkenstock were barely on StockX’s radar. Today they’re surging on the secondary market thanks to product collabs with established brands like Kith and Stüssy and artists like Post Malone, Justin Bieber, and Bad Bunny.”
Einhorn also outlined that the success of these “fringe” brands shows that the boundaries of sneaker culture continue to expand. Most of the time, all it takes is the right partners and well-thought-out strategy to break into the industry.
“Demand for designer sneakers is also on the rise, with trades of Louis Vuitton and Alexander McQueen releases up four and five times what they were a year ago,” says Einhorn. “Someone who may have prioritized a more formal or traditional work shoe or accessory a year ago is now putting those dollars towards sneakers.”
While the likes of Reebok, Louis Vuitton, Crocs, Birkenstock, and Alexander McQueen are growing at a rapid pace, the big dogs in Nike and adidas are still growing themselves. “The dominant sneaker brands still lead the category in terms of total trades, and each has seen significant year-over-year growth,” Einhorn explains. “The ability of smaller brands to gain market share, and the diversification of consumer preference, is a healthy sign for the overall secondary market, and proves that powerful incumbents can’t take their position for granted.”
Check out StockX’s mid-year snapshot here.
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