Current culture marketplace StockX has released a new trend report entitled “The State of Resale,” which includes new data about how fast-growing challenger brands, including Asics, are superseding mainstream giants Nike, Jordan and Supreme.
Based on global sales data from the first seven months of 2024 compared to the comparable period in 2023, StockX analysis highlights new metrics and key trends in the broader resale space.
“Shifting consumer preferences and purchasing power coupled with dramatic changes in the brand landscape are driving substantial market shifts in the marketplace,” said StockX CEO Scott Cutler. “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. Brands that are creating culturally relevant collections backed by innovation will lead in this environment.”
Key takeaways and industry insights from StockX’s analysis include the following:
Sneaker Resale Market is Not Dead. Despite headlines claiming otherwise, StockX reported its data shows a diversified portfolio of brands locking in the top spots for year-over-year growth, including Asics (+589 percent), Adidas (+88 percent) and Yeezy (+23 percent). The company said the latter depicts the complexities of shopper behavior, where virtue signaling falls to the wayside in favor of cultural clout.
“The sneaker resale market for the usual top-charting mainstream brands like Nike and Jordan; however, has slowed, as market share has dropped 11 percent and 12 percent respectively from 2023 to 2024,” StockX said in its report.
Sneaker Innovation is King. The days of relying on one silhouette no longer drive heat across an entire brand, the company contends in the report. The Nike Dunk, for example, formerly reigned supreme, but data shows a dip in popularity, with trades down 41 percent year-over-year. Similarly, cornerstone silhouettes from brands like Jordan and New Balance have dropped in average price, such as Jordan 1 (-18 percent) and New Balance 550 (-25 percent). Conversely, Asics, which has reimagined its older silhouettes such as the Gel-1130 and Gel-Kayano 14, has seen a significant increase in growth on StockX (+589 percent).
Celebrity Athletes Win. StockX said the signature sneaker lines associated with legacy NBA greats Kobe Bryant, LeBron James, and Kevin Durant drove Nike Performance Basketball’s 46 percent year-over-year increase for the seven-month period.
“The mamba mentality starts in the sole with the Kobe Protro in the lead with a 512 percent trade increase, followed by Devin Booker’s Book 1 (+14K trades this year-to-date with a +18 percent price premium) and KD (+6K trades this year-to-date),” the company noted.
StockX also noted that the WNBA has also heated up with superstar Sabrina Ionescu’s signature Sabrina 1 silhouette (+3K new trades year-to-date), garnering new attention relative to the launch.
The New Face of Streetwear. Streetwear giants Supreme (-3 percent) and Bape (-7 percent) were down year-over-year, but Jerry Lorenzo’s Fear of God brand has spiked in popularity (+18 percent) over the 2023 seven-month year-to-date period.
“The brand’s Essentials line continues to be a fan favorite while more and more brands also enter the fold,” the company said in the report’s summary.
On StockX, the apparel category has grown exponentially, increasing from an offering of 117 brands in 2020 to 249 brands today.
To read the full report, go here.
Image courtesy Asics, Chart courtesy StockX
