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 NKE and Adidas AG ADDYY sneakers and Microsoft Corporation MSFT and Sony Corporation’s 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.
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