Running silhouettes are increasing in popularity on StockX, and On is leading the push.
In its latest “Big Facts” report, StockX revealed the brands that have made major moves on the platform. The report compared global trade data from January through July 2023 over the same period in 2022.
In terms of running shoes, On experienced massive growth in trades during the aforementioned period. StockX revealed growth in trades of footwear from the Swiss running brand increased 15,357 percent.
Aside from On, the marketplace experienced an increase in trades with other running shoe brands, most notably Salomon (202 percent) and Asics (72 percent).
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Although technical and designed for performance, StockX highlighted in the report their collaborations with the perfect partners for them as a reason they are being embraced by more style-driven consumers.
“We’re still living in that post-COVID world where we prioritize comfort,” StockX merchandising director Drew Haines told FN. “You might think of On as something that’s purely comfortable, purely functional, but it’s actually becoming more of a fashion statement. You see these brands like Asics and Salomon and others collaborating with the heavy hitters in the streetwear and hypebeast culture space, and now these products are moving from utilitarian, functional product into something that’s being turned into a fashion statement. It’s something that sneakerheads want to add to their closet as they continue to diversify the brands that they pay attention to and the brands that make it into their rotations.”
Looking ahead, Haines said he has the most confidence in Asics to perform well in the long-term. According to StockX, there were more trades Asics in July 2023 than in any other month for the brand in the platform’s history. Over the last 60 days, Haines labeled the performance of Asics as “an incredible run.”
During that time, from June 14 to Aug. 13, the top-traded Asics sneakers on StockX included the Gel-Kayano 14 in “Cream/Black/Metallic Plum,” the Kith x Gel-Lyte 3 ’07 Remastered Marvel X-Men Mystery Sealed Box with the trading card included, the Cecilie Bahnsen x GT-2160 Mary Jane “Pure Silver,” the Dime x GT-2160 “Arctic Wolf” and the Gel-Kayano 14 “White/Midnight” for women.
“You have Jordan, Nike and Adidas as the big three. They have cemented their place in sneaker culture, and New Balance has separated themselves from the pack as that fourth brand in terms of volume for us, as well as relevance in sneaker culture. I’m seeing Asics come in as that clear number five,” Haines said. “We’re early in the Asics trend cycle still. We’re seeing general release colorways of Asics Gel-Kayano 14s sell out instantly and are reselling for a premium. It isn’t just being driven by the collabs. Of course, that drives the high heat moments where the stuff sells out quickly and it resells, but a lot of the volume is coming from those general release colorways.”
As far as New Balance is concerned, StockX said the brand is on pace for record trades in 2023 — and has already experienced tens of thousands more trades in 2023 compared to 2022. StockX stated New Balance is the only sneaker brand for the seven-month period ended July 2023 that both ranks among the top 10 fastest-growing and the top 10 best-selling sneaker brands on the marketplace. Much of the success, according to StockX, is brand’s ability to find the feet of sneakerheads with multiple silhouettes, including the 550, the 2002R and the 9060.
“It all started with the partnership with ALD [Aime Leon Dore], going back to late 2019, 2020 when those 550s started coming out. That was the catalyst that got sneakerheads and sneaker culture interested in New Balance in a more meaningful way,” Haines explained. “They’re selling a lot of 550s — that is one of the most popular models on StockX — but New Balance is coming in with hot new models, models that are relevant for the quickly changing pace of customers and they’re doing an excellent job of it. We’re seeing a broader range of models being popular amongst our customers.”
He continued, “The 9060 was mentioned in the report. The 2002R was mentioned in the report. These are all general release. The ‘Rain Cloud Gray’ 9060, which is the top-selling 9060, is just a general release colorway. Then you think about the 1906Ds, the 860v2, they are continually keeping people fresh with different models.”
Aside from sneakers, shoe brands with a comfort lean performed well on StockX during the seven-month period ended July 2023. The No. 1 brand was Ugg, which grew 836 percent and was driven by the success of the Tasman and Tazz slippers.
Following Ugg was Birkenstock at No. 2, which experienced 492 percent growth in trades. StockX said this was bolstered by collaboration, including looks with Fear of God and high-demand for the iconic Boston mule. And the growth in trades of Crocs was also notable, which claimed the No. 5 spot and climbed 26 percent for the period. This was aided by collaborative releases with Salehe Bembury, Sza and others.
“Every sneakerhead needs their Jordan 1s and their [Nike] Dunks, these are the staples of any sneakerhead closet, and we see those brands and those models perform well,” Haines said. “But people are looking for something new, something different, and these shoes — which are essentially non-sneaker footwear — have all had an incredible run.”
The aforementioned brands, Haines explained, had a different reason for seeing success.
“Ugg specifically, we saw a lot of retail scarcity in Ugg toward the end of last year. It was a very popular trending product and Ugg was sold out of all the slippers online and at their retail locations. When that happens, obviously the secondary market takes off,” he said. “We saw a ton of growth early in 2023 as it was still cold out. Ugg is a seasonal brand, they don’t make products for warm weather, they don’t make slides or anything, it’s all fuzzy and and warm.”
He continued, “With Crocs, it’s the Salehe Bembury collaborations that continue to do very well. Very recently, the ‘Barbie’ Crocs have been doing incredibly well. That movie has taken the country by storm and there’s this whole trend of Barbiecore and dressing in pink. They’ve done a good job of hitting on cultural moments. I mean, they did a collaboration with with Taco Bell. It’s cool, it’s like $40 or $50, they sold out and we moved 1,000 of them. And Birkenstock, they had a moment with their recent Stussy collabs over the last year or two that have generated a lot of hype and interest, and Birkenstock is a timeless brand. People realize this is a timeless brand, the Boston is a timeless model, it’s a classic, comfortable, versatile piece of footwear and people want to get a pair or two in their rotation.”
Trade growth when it comes to collaborations in the collectibles category for the seven-months ended July 2023 was also notable. This was led by the 550 percent trade growth for Cactus Plant Flea Market, which StockX said was aided by its McDonald’s meal box toy figures. Following Cactus Plant Flea Market was Tiffany & Co. at No. 2, which experienced 446 percent growth in trades. This, StockX explained, was helped by the sterling silver keepsakes released as a part of its Nike Air Force 1 collaboration in March 2023.
“As a global marketplace rooted in data, we have a unique perspective on the trends, designers, and moments that are making an impact on the current culture consumer,” StockX CEO Scott Cutler said in a statement. “Success on the secondary market can be a barometer for consumer demand, and this report proves that despite a more difficult retail environment, brands are still breaking through and demonstrating growth. We expect the brands on this list to perform well in the coming months and through the Q4 holiday season.”
