Announcement posted by StockX 06 May 2021
Leading global e-commerce marketplace for buying and selling current culture products, StockX, has opened its first Australian authentication centre in Melbourne, Victoria.
StockX, which counts musician Eminem; model and entrepreneur, Karlie Kloss and actor Mark Wahlberg among its investors, is a platform to buy and sell high-demand consumer goods by the same methods as the world’s stock exchanges. It was built on the idea of alternative asset classes and ultimately created a commodity market for sneakers. Since launching in 2016 the platform has expanded into apparel, accessories, collectibles, and electronics.
In less than five years, StockX has become one of the fastest-growing online marketplaces in the world, processing sales in 200+ countries and territories with an average of 30 million global visitors per month. It recently announced it had surpassed $3.8B in lifetime gross merchandise value (GMV).
Interest in the resale market among Australians is increasing, particularly in shoes and apparel. The growing sneaker culture and more specifically e-commerce and tech ecosystem in Melbourne meant it was the perfect choice for the global tech giant to open its first authentication centre in the region. With increased access to local supply, buyers will benefit from lower shipping fees and shorter shipping times, while sellers will enjoy reduced shipping costs and faster payouts.
“This launch is another example of our doubling down on a commitment to provide an authentic, accessible, and truly local experience to customers across the globe,” said StockX CEO Scott Cutler. “Not only does opening our doors in Melbourne make for an improved experience for an already engaged, passionate customer base, but it allows us to further deliver on our customer promise to be the world’s leading live marketplace for consumers of current culture.”
According to a 2020 survey by research firm Piper Sandler, StockX is one of the most popular brands among Gen Z and ranks among the top five most popular websites overall for upper-income Gen Z males. However, the platform is also seeing rapid growth among female users. The global sneaker market is estimated to be worth $10B today (Piper Sandler, 2021) and is expected to grow to nearly $30B by 2030 (Cowen, 2020).
As the only consumer marketplace where demand sets the price, StockX has revolutionized e-commerce by using stock market mechanics and the power of data — its platform has turned reselling into a business for anyone.
Relevant data:
From a 2021 survey of over 1,000 Australian adults, conducted by The Harris Poll and commissioned by StockX.
Nearly 1 in 5 Australian adults (19%) have purchased or plan to purchase limited-edition sneakers in 2021; among them, 42% say they are motivated to purchase in 2021 by the investment opportunity.
Nearly 1 in 4 Australian adults (24%) have purchased/plan to purchase collectibles in 2021.
Top-Traded Products: March 2021 - Australia
Nike React Phantom Run Flyknit 2 Red Orbit
Nike React Phantom Run Flyknit 2 White Black
Nike React Phantom Run Flyknit 2 Flash Crimson Baltic Blue
Nike React Phantom Run Flyknit 2 Black
Nike React Phantom Run Flyknit 2 White Pure Platinum W
2020 Pokemon Hidden Fates Elite Trainer Box 4x Lot
Air Jordan 1 Retro High White University Blue Black
Nike Air Max Plus Color Flip Pack Grape
adidas Yeezy Boost 350 V2 Core Black Red 2017
Nike Dunk Low Retro White Black 2021
About StockX
StockX is proud to be a Detroit-based technology leader focused on the large and growing online market for sneakers, apparel, electronics, accessories, and collectibles. StockX's powerful platform connects buyers and sellers of high-demand consumer goods from around the world using dynamic pricing mechanics. This approach brings unparalleled access and market visibility powered by real-time data that empowers buyers and sellers to determine and transact based on fair market value. The StockX platform features hundreds of brands across verticals including Jordan Brand, adidas, Nike, Supreme, BAPE, Off-White, Louis Vuitton, Gucci; collectibles from artists including KAWS and Takashi Murakami; and electronics from industry-leading manufacturers, Sony, Microsoft, Nvidia, and Apple. Founded in 2016, the company employs more than 1,000 people in 13 offices and authentication centers around the world, and facilitates sales in more than 200 countries and territories. Learn more at www.stockx.com.
Survey Method
This survey was conducted online within Australia by The Harris Poll on behalf of StockX from March 2-4, 2021 among 1,021 Australian adults ages 18 and older, among whom 180 have purchased/plan to purchase limited-edition sneakers in 2021. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact press@stockx.com.
Social media channels:
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Twitter: @stockx
Tik Tok: @stockx
Facebook: StockX
Image and Video Library: Here
Media Contacts:
Camilla King, Character + Distinction
camilla@ofcharacter.com | +61 420 323 155
press@stockx.com (US HQ)
Media Contacts
Head of Media Relations