— The platform averaged more than one trade every second on Black Friday, saw a lift in below retail trades —
— The weekend’s best-selling products included sneakers from Nike and adidas, Ugg slippers, Yeezy slides, Fear of God apparel, and the PlayStation Portal Remote Player —
— Ugg, New Balance, Asics, and Fear of God set new trade records on Black Friday —
DETROIT, Nov. 28, 2023 /PRNewswire/ — Today StockX released results from Cyber Weekend, underscoring continued demand for current culture products. Over the four-day Cyber Weekend, the platform facilitated tens of millions of dollars in sales across its sneakers, apparel, accessories, collectibles, and electronics categories. On Black Friday, trades surged by more than 200% compared to the previous week, and the company averaged more than one trade every second throughout the day. StockX also saw a flood of new customers on the platform, with Black Friday ranking as the second biggest day in company history for first-time buyers. Trade momentum continued through the weekend, with Cyber Monday trades surpassing 2022 levels.
“Hundreds of thousands of unique buyers and sellers shopped StockX this Cyber Weekend, which speaks to the continued strength of our marketplace and the resale space as a whole,” said StockX CEO Scott Cutler. “While value and price understandably remain top-of-mind for consumers, brand loyalty hasn’t wavered. The performance of some of our most popular brands further underscores this point. Fear of God, Ugg, and Asics saw their biggest trade days in company history over the weekend, New Balance is on track to close 2023 with record trades, and adidas (not including Yeezy) has seen double-digit growth on StockX in 2023.”
While StockX is known for limited-run products that sell at a premium, the company has seen growth in its below retail offering. Prices on StockX adjust in real time based on supply and demand, so limited supply can often drive steeper price premiums. Conversely, excess supply – which can happen when a brand re-releases or restocks a product – can cause prices to come down. As a result, prices on StockX can be more affordable than retail. This year, 35% of sneaker sales in the United States traded at below retail prices, which represents a 60% increase over last year.
Top Movers on StockX During Cyber Weekend:
- Adidas Campus 00s: 2023 marks the first year in StockX history that an adidas Campus sneaker has ranked among the top 100 products on Cyber Weekend. Four different colorways made the list, including the adidas Campus 00s Core Black (No. 5) and the adidas Campus 00s Grey White (No. 19). Another classic silhouette from the brand, the adidas Samba OG Cloud White Core Black, also ranked among the top 100 best-selling products.
- General Release Nike Dunks: A silhouette that has seen frequent restocks and softer resale price premiums in 2023, the Nike Dunk was a popular pick on Cyber Weekend. This is likely due to the sneaker’s accessible price – the average resale value of a general release (non-collaboration) Dunk is $150 on StockX. The top-traded style over the weekend was the Nike Dunk Low Photon Dust (Women’s) – a women’s exclusive release.
- Jordan Brand’s Top Holiday Release: The Jordan 11 Retro DMP Gratitude (2023) was the top-traded Jordan Brand sneaker on StockX over the four-day Cyber Weekend. Jordan 11 holiday drops have traditionally been among the biggest in all of StockX history.
- Ugg Slippers: Multiple Ugg products ranked among the top sellers on Cyber Weekend, with popular colorways of the Tazz and Tasman silhouettes sold out at many major retailers. On Black Friday, StockX saw more trades of Ugg products than any other day in the company’s history.
- Yeezy Slides: Throughout Cyber Weekend, the No. 1 top-traded product on StockX was the adidas Yeezy Slide Slate Grey. The average resale price of Yeezy slides is around $125, putting them at a more affordable price point than many of the brand’s sneakers. Other popular colorways included the adidas Yeezy Slide Slate Marine and the adidas Yeezy Slide Onyx (2022/2023).
- Character-Inspired Crocs: The best-performing Crocs products were those inspired by franchise characters, including the Crocs Classic Clog Lightning McQueen, the Crocs Classic Clog Mater, and the Crocs Classic Clog DreamWorks Shrek.
- Looking at year-over-year trades during Cyber Weekend in 2023 compared to 2022, StockX’s ‘Shoes’ category was the fastest-growing category on the marketplace.
- Fear of God Hoodies: Hoodies from Fear of God’s ESSENTIALS line dominated the apparel category, with the most purchased products being the black and oatmeal colorways. Apparel is big during the holidays, and these hoodies make for good middle-price-point gifts.
- Sony’s PlayStation Portal: The closest gamers have ever come to having a PlayStation 5 in handheld form, the PlayStation Portal Remote Player dominated the electronics category during Cyber Weekend. Demand for the product has been strong since it dropped on November 15, 2023. The average resale price is currently $300, a premium of 50% compared to its retail price ($199).
Over the four-day Cyber Weekend, StockX saw over 10 million visitors to its website and app and awarded nearly $2 million in prizes to customers. In addition to serving buyers and sellers in more than 100 different countries and territories, the company reported that multiple markets – including France and Canada – set new trade records on Black Friday.
Ahead of the holidays, StockX rolled out new features to better serve customers throughout the shopping season. The company recently launched StockX Lists, a new feature that gives users the ability to curate lists of the products they want most (and their preferred sizes) to share with family and friends. In September the company introduced Xpress Ship, offering three-day shipping on select sneakers. As a result, buyers can now shop up to December 19, 2023, and still receive their items by December 25, 2023. Find more information about Xpress Ship at https://stockx.com/lp/xpress-ship/ and shop the full range of products eligible for three-day shipping here.
For more information about StockX, please visit www.stockx.com.
StockX is proud to be a Detroit-based technology leader focused on the large and growing online market for sneakers, apparel and accessories, electronics, collectibles, and trading cards. StockX’s powerful platform connects buyers and sellers of high-demand consumer goods from around the world using dynamic pricing mechanics. This approach affords access and market visibility powered by real-time data that empowers buyers and sellers to determine and transact based on market value. The StockX platform features hundreds of brands across verticals including Jordan Brand, adidas, Nike, Supreme, BAPE, Off-White, Louis Vuitton, and Gucci; collectibles from artists including KAWS and Takashi Murakami; and electronics from industry-leading manufacturers Sony, Microsoft, Nvidia, and Apple. Launched in 2016, StockX employs more than 1,000 people across offices and verification centers around the world. Learn more at www.stockx.com.
Originally published at https://www.prnewswire.com/news-releases/stockx-reports-strong-cyber-weekend-fueled-by-first-time-buyers-301999475.html
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