When it comes to secondary sneaker market domination, the tide has seemingly turned.
In a new StockX report, Nike and Jordan’s market share — longtime mainstays in the resale world — have declined on the platform in 2024. The brands with the biggest market share increases are Asics and Adidas.
According to StockX, comparing market share from January to July 2024 over the same period in 2023, Nike and Jordan declined 11 and 12 percent, respectively. During that same period, market share of Asics on StockX has increased 275 percent and Adidas has climbed 69 percent.
Speaking with FN, StockX chief executive officer Scott Cutler labeled this shift in market share as “the most significant” it has seen not only in the history of the company, which debuted in 2016, but also in resale in the last decade.
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“The secondary market essentially reflects both consumer demand for products, as well as the implications that brands make on the supply out into the market. It is a realtime marketplace, so it should obviously always reflect current culture,” Cutler told FN. “Decisions that brands make on how much they supply out into the market or how great their product is from an innovation or design or appeal perspective is going to be reflected either positively or negatively in the market.”
Drew Haines, director of sneakers and collectibles at StockX, offered a prediction for what’s to come from Nike and Jordan, as well as their rising competitors.
“In the short term, we expect to see a continued diversification of brands entering the picture and challenging the mainstays,” Haines said. “Long term, I believe Nike and Jordan will continue to be the market leaders, however they need to right the ship, innovate and release great products that consumers love — including in areas like running and basketball — in order to maintain their market position.”
Haines also offered insight into other sneaker brands that could potentially see growth similar to what Asics and Adidas have experienced.
“Vans and Puma would be two others that stick out,” Haines said. “We’ve seen tremendous demand for the Vans Knu Skool model along with their recent Bape collaboration. Puma’s seen strength from their LaMelo line — both performance and lifestyle, with the recent launch of the LaFrance Amour — alongside the re-launch of the Speedcat. Both could stand to make substantial gains and are already at meaningful volumes on StockX.
Other brands Haines is watching include Mihara Yasuhiro, Saucony and On.
Nike and Jordan also have two of the top three “Overplayed Silhouettes” in the report, which StockX determined by looking at year-over-year movement on the platform.
The average price of the Nike Dunk, according to StockX, decreased 14 percent during the aforementioned period of time, and the average price premium dropped from 37 percent to 15 percent. The average price of the Jordan 1, according to StockX, decreased 18 percent and the average price premium dropped from 46 percent to 17 percent.
The average price of the third model on the list, the New Balance 550, declined 25 percent and the average price premium dropped from 8 percent to -28 percent.
“Historically speaking, the Jordan 1 or a Dunk were the most sought after releases that would sell out in seconds [at retail] and were immediately available for resale at significant premiums in the marketplace. That is not the case today. A significant percentage of these tend to trade below retail. That’s probably the biggest change [in consumer trends], particularly in some of the most sought after silhouettes,” Cutler said. “Also, what you’re seeing happen with those brands that are rising is they’re hitting that sweet spot of creating a great product, they’re telling an interesting story.”
StockX also revealed “Brand Growth” data, which it described as a holistic term that includes market share, average price and average price premium. Nike and Jordan, for the aforementioned period of time, declined 21 and 22 percent, respectfully. New Balance also declined 3 percent.
The biggest increases in this data category were Asics (589 percent), Adidas (88 percent) and Yeezy (23 percent).
About the Author
Peter Verry is the Senior News and Features Editor for Athletic and Outdoor at Footwear News. He oversees coverage of the two fast-paced and ultracompetitive markets, which includes conducting in-depth interviews with industry leaders and writing stories on sneakers and outdoor shoes. He is a lifelong sneaker addict (and shares his newest purchases via @peterverry on Instagram) and spends most of his free time on a trail. He holds an M.A. in journalism from Hofstra University and can be reached at peter.verry@footwearnews.com.
