The StockX global business is growing rapidly, and with it, several trends have emerged.
In its new “Big Facts: Current Culture Goes Global” report, the company stated it eclipsed 6.5 million lifetime buyers in the first half of 2021, and its buyer base beyond the U.S. has increased by 100% year-over-year.
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With the holiday shopping season arriving sooner than in years past, StockX examined this year’s trade growth globally on the platform from Q3 over Q2 for the report, and discovered several patterns involving major products and brands.
Specifically concerning footwear, StockX revealed a 120% increase in trade growth of Alexander McQueen in Italy, a 55% increase in New Balance in France and a 50% increase in Vans in Japan.
It’s largest jump, however, was experienced stateside with an increase of 850% in Nike SB apparel.
“In Q3, the growth of Nike SB apparel was primarily driven by their highly successful Olympics capsule and collaboration with the hype Dutch brand Parra. The most popular item from that collaboration, the Nike SB x Parra USA Federation Kit Crew Jersey, has already seen over 1,000 global trades on StockX and is selling for 50% above retail,” StockX senior economist Jessie Einhorn told FN. “There are several other Olympic-themed items from this collection, including kits associated with Japan, France and Brazil, and they have all proven extremely popular on StockX. Even with pandemic-related disruptions, the Olympics has once proven to be a major cultural force and the success of Nike SB apparel in Q3 proves that.”
Other notable quarterly increases globally include a 110% climb in Canada for OVO merchandise, a 525% increase in Fear of God in South Korea and a 215% increase in Bearbrick in Hong Kong.
However, what may come as a surprise to some sneakerheads involves the activity surrounding Air Jordan 1 Mids. The Air Jordan 1 Mid, which has long been lambasted by diehard sneaker consumers, has experienced growth in several regions for StockX.
According to the report, StockX said it experienced a buying boom of Air Jordan 1 Mids last year in Europe, which it has dubbed “Mid Mania.” The report broke down the activity further, stating Europe was the No. 1 buyer of the silhouette on StockX, purchasing at three-times the global average.
“This is a trend we’ve been watching for about a year now. The Jordan 1 Mid silhouette really took the EU by storm in 2020, accounting for as much as 50% of all Jordan Brand sneaker sales in select markets,” Einhorn said.
StockX also revealed Air Jordan 1 Mid trades outside of Europe are on the rise. According to the company, trade growth outside of Europe has increased almost 100% year-over-year.
Some notable activity includes what’s happening in Spain, with buyers snapping up the Air Jordan 1 Mid “Dia de los Muertos” at 10-times the global average, year to date. And the resale value of women’s-exclusive Mids, according to StockX, is appreciating faster than men’s.
Breaking down the activity further, StockX said there has been a 150% appreciation of the Air Jordan 1 Mid “Digital Pink” since June 2020, a 100% appreciation of the Melody Ehsani x Air Jordan 1 Mid SE “Fearless” since November 2019 and a 100% appreciation of the Air Jordan 1 Mid “Dirty Powder Iridescent” since February 2020.
Einhorn is confident this Air Jordan 1 Mid trend will not go away any time soon.
“As new OG colorways and hyped collaborations are introduced, the silhouette is becoming increasingly popular. Though premiums on hyped releases are beginning to rival those of other sneakers, Mids tend to still be more accessible from a retail price standpoint. For all of these reasons, we expect the model will continue to attract buyers around the world into the new year,” Einhorn said.
Also concerning women’s exclusives, StockX stated female-focused looks in Australia have experienced 100% trade growth in Q3 2021 over the quarter prior.
Other notable trends that emerged in the report include South Korea’s purchasing of low-cut silhouettes. According to StockX, the Air Jordan 1 Low is being purchased at four-times the global average and accounts for four of its top five best-selling Jordans in 2021. Also, the Nike Dunk Low is also performed well, and is being purchased at two-times the global average.
And in Spain, artist collaborations are a hit. The Bad Bunny x Adidas Forum Low, for example, were purchased at 10-times the global average year to date, and the J Balvin x Air Jordan 1 was purchased more than three-times the global average.
What has helped with its data accumulation is the increase in its global authentication center footprint. To keep up with its growing user base, StockX opened authentication centers over the past 12 months in Hong Kong, Canada, Australia and South Korea.
“As StockX expands internationally and opens new authentication centers, the interconnected nature of global trade becomes more and more evident. Given the nature of regionally exclusive releases, the supply of sneakers and streetwear is often concentrated in a single market, even though demand for the product extends beyond those borders. As an integrated, global trading platform, StockX helps balance out these global asymmetries. As our marketplace expands and matures, we see the same import/export dynamics that exist in all global trade,” Einhorn explained.
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