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

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


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Posted-In: Black Friday Cyber Monday PlayStation 5 retailNews Retail Sales Small Cap Tech Best of Benzinga

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