StockX Reports Strong Cyber Weekend Fueled By First-Time Buyers
— 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:
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.