StockX report: ‘Sneaker resale isn’t dead’

Culture resale marketplace StockX has published its latest trend report, ‘The State of Resale’, in which it has unearthed new details and data on the secondary sneaker and streetwear market. The information, which has been collated from global sales data over the seven months of 2024 and compared to the same period last year, exhibits shifting consumer preferences and purchasing power, according to the platform’s CEO Scott Cutler.

Commenting on the results in a release, Cutler noted that there had been “dramatic changes in the brand landscape” which were driving “substantial market shifts in the marketplace”. He added: “The inspiration and innovation coming out of many ‘challenger’ brands is changing market share and preference from the traditional leaders in the resale marketplace, creating exciting opportunities for consumers.”

One thing StockX makes clear is that the “sneaker resale market isn’t dead”. This is shown in a diversified portfolio of brands that take up the top spots for year-on-year growth in the report, including Asics, which saw a 589 percent increase; Adidas, up 88 percent; and Yeezy, up 23 percent.

Addressing the presence of Kayne West’s controversial Yeezy label, StockX said the brand’s inclusion in the top spots showed the “complexities of shopping behaviour, where virtue signalling falls to the wayside, in favour of cultural clout”. The brand’s apparel also shot up in popularity, seeing an increase of 197 percent in YoY growth.

Meanwhile, for Nike and Jordan, two brands that typically dominate the hot seat, market share has dropped 11 and 12 percent, respectively. The Nike Dunk silhouette, in particular, took a notable hit, dipping in popularity as trades fell 41 percent YoY.

In the way of apparel, it appeared that newer names were on the verge of taking over this year, with the usual streetwear giants, Supreme and BAPE, dropping in trades and thus making way for emerging brands. Fear of God was among these, with an 18 percent spike in popularity putting it firmly on the map, an uptick that has largely been driven by its Essentials line.