PlayStation 5, Xbox, And Sneakerheads Drive StockX GMV To Record Highs Over Cyber Weekend

StockX said Tuesday it recorded a two-fold growth in daily gross merchandise value (GMV) during Cyber Weekend compared to last year.

What Happened: The online marketplace, known for being a reseller of sneakers, said its daily GMV averaged 100% growth compared with the same four-day period last year. Nike, Inc (NYSE: NKE) and Adidas AG (OTC: ADDYY) sneakers and Microsoft Corporation (NASDAQ: MSFT) and Sony Corporation’s (NYSE: SNE) were among the best-sellers.

On Black Friday, the marketplace witnessed an average of one trade per second as consumers swarmed to purchase Air Jordans and Adidas Yeezy 500 sneakers as well as Xbox Series X and PlayStation 5 consoles.

Over the Cyber Weekend, buyers from 140 different countries made purchases on the market place, StockX said. The marketplace recorded 10 million visitors between Friday and Monday.

Why It Matters: The Detroit-based company said that the pandemic led more people to shop online.

One gaming console was traded every minute on the marketplace with Xbox Series X  topping the sales of rival PlayStation 5, which was close behind, according to StockX.

The company, which markets itself as the "stock market of things" reported crossing $1 billion in valuation in June last year, after closing a $110 million Series C funding round. 

See Also: Best Buy, Etsy Among 2020 Black Friday's Big Winners