Detroit-based StockX reports record sales in COVID-19 era
Detroit-based StockX Inc. had its two biggest months in the platform’s history in May and June, despite the coronavirus pandemic.
The company, which is an online marketplace and clothing reseller that deals in collectible sneakers, purses and watches, said Monday it has "seen extraordinary growth across our platform," resulting it surpassing $2.5 billion lifetime in gross merchandise value and 10 million lifetime sales.
"The first half of 2020 saw unprecedented challenges, but even in these trying times, StockX growth has accelerated," the company said in a report. "The 'new normal' has changed the way we live, work, and shop. This mid-year Snapshot reveals the numbers behind our growth."
StockX said half of the lifetime sales it reported Monday have occurred in the past year. The company said May and June were its biggest buyer months ever and the majority of its application users are 24 years old or younger.
The company said it is well-positioned now with online sales becoming more prevalent in the COVID-19 era.
"The world has changed, and so have the items that customers covet," the company said. "While some businesses have suffered setbacks, the openness and product diversity of our global marketplace has allowed StockX to flourish in the “new normal”.