StockX CEO: Footwear is seeing 'triple-digit growth' on the luxury resale market

Singapore News News

The value of luxury resale markets is expected to grow exponentially in the coming years. Currently, back-to-school shopping and collaborations between brands or artists are the core trends encouraging consumers to fill up their online check-out cart. 'We're a platform that's powered by the people, and we use that power to harness effectively our lens of what current culture represents,' StockX CEO Scott Cutler tells Yahoo Finance Live, adding: 'New Balance, which narrowly missed the top five among fastest growing, but it is the only sneaker that ranks both in the top ten in terms of fastest growing but also the top ten best-selling sneaker brands on StockX.' Cutler uses footwear sales as an example to illustrate the dynamic between pricing and value that resonates with consumers, and how StockX could leverage generative AI models to optimize its platform and sales data.