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Dive Brief:
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Asics was the fastest-growing brand in the third quarter on resale trading marketplace StockX, with a 3,268% year-over-year search growth, according to the marketplace’s Big Facts: 2024 Trends report, released Wednesday. Trades for the Asics Gel-1130 increased 1,074% year over year, continuing a trend seen earlier this year.
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Ahead of the holiday season, running shoes were also popular, including the Nike P-6000, which saw a trade increase of 1,202% for the period. The On Running brand saw a 180% year-over-year increase in searches for its sneakers, per the report.
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Other big brands included Puma, which saw a 2,022% year-over-year search increase for its brand, and Prada, which saw a 508% year-over year increase in trades for its accessories. Streetwear was also popular, and year-over-year searches for Hellstar grew by more than 2,300%, making it one of the fastest-growing searched apparel brands on the platform. Denim Tears saw a 437% trade growth for the period.
Dive Insight:
The StockX report tracked brands and products that appealed to consumers this year, and also highlighted labels, collaborations, and silhouettes that saw notable year-over-year growth in on-platform searches.
Some of the StockX findings aligned with a recent report from McKinsey, which noted an influx of so-called “challenger brands” such as Asics and New Balance in the sportswear, athleticwear and athleisure market. McKinsey said some of these upstart players could soon surpass the “Big Four” incumbent sportswear brands — Nike, Adidas, Puma and Under Armour — in profit, meaning that innovation will top-of-mind for companies moving forward.
“As we head into the holiday season, it’s eye opening to look back on this year and see how much has changed in the resale market,” Greg Schwartz, StockX co-founder, chief operating officer and president, said in a press release accompanying the report.
The diversity of brands seen across year-over-year search term growth is a signal that “consumers are shopping around,” Schwartz said, adding that the revised landscape could “create new opportunities” for companies looking to win new customers.
“[I]t goes to show how important marketing and storytelling is when trying to win share of attention,” Schwartz, who will become the next CEO, said. “With Cyber Weekend quickly approaching, we’re watching closely to see how this dynamic plays out and which brands come out on top.”