Yahoo Finance StockX points to Crocs, Nike Jordan golf shoes as big money-makers on the resale site
The COVID-19 pandemic has forced many Americans to look for side hustles in order to make ends meet, with some turning to the secondary market platform StockX to make extra cash.
StockX is out with its latest Big Facts report, "Pandemic-Era Trends: The Next Chapter," highlighting hot pandemic-era products as well as the sheer volume of sellers who recently joined the platform, which sells sneakers, streetwear, watches, and other collectibles.
The report pointed to Crocs as big sellers during the pandemic. The average resale price of the casual comfort shoe, dubbed “the shoe of the pandemic,” has jumped 70% in Q1 2021 compared to the prior year’s quarter, according to StockX. Another big pandemic play on StockX were Nike Jordan golf shoes, which saw a 150% increase in trades during Q1 2021 compared to the same quarter last year, as the outdoor sport boomed in popularity during the pandemic.
StockX data shows that hundreds of thousands of new sellers have joined the platform since the onset of the pandemic in March 2020, selling $800 million worth of products.
“This isn’t a small group of individuals benefiting — this is hundreds of thousands of sellers who have been able to tap into a global market, sell products they love and earn extra income from the comfort of their home,” StockX senior economist Jesse Einhorn told Yahoo Finance.
The top three products sold by new sellers were Adidas (ADDYY) Yeezy Boost 350 V2 Black Red; the Sony (SONY) PlayStation 5 Blu-Ray Edition, and the Nike (NKE) Jordan 11 Jubilee 25th Anniversary.
“Whether it’s a Yeezy 350 or a PlayStation 5, the products one can sell on StockX are as expansive as they are profitable. And as ever more brands leverage scarcity to drive demand, creating products that resell far above their retail price, the economic opportunity for sellers is virtually limitless,” Einhorn said.
StockX, a Detroit-based company launched in 2016, said last month that it has reached a $3.8 billion valuation. It's expected to go public later this year, according to the Wall Street Journal.
Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.
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