November 21, 2022
Barbiecore, Y2K and utilitarian dress codes delivered profit margins between 423 and 548 percent, according to a new resale report.
Gen-Z’s resale go-to GOAT Group has released its first annual “Seller Report,” providing in-depth analysis of buyer behavior and global trends for the year across resale sneakers, luxury apparel and accessories. GOAT Group talks current consumer trends, as well as what’s next for 2023, as part of its latest research effort.
"Everyone is always looking at what comes next in sneakers and fashion," said Eddy Lu, cofounder and chief executive officer of GOAT Group, in a statement.
"This report highlights some of the most notable trends in 2022 that shifted culture and the entire fashion industry, while also giving insight into what we might see in 2023."
For the report, GOAT Group utilized proprietary in-house data and metrics from more than 40 million members in 170 countries across three of its platforms – alias, GOAT and Flight Club – between January 1 and October 31.
Stylistically, imagery nodding to early gaming graphics is featured across its pages, in a nod to its intended audience of sellers.
Besides this demographic, GOAT notes a hope that those unfamiliar with the industry can find value in report documentation and conclusions.
GOAT Group’s “alias Seller Report 2022” – “alias” is GOAT’s official selling app – lifts streetwear stats, beginning with a survey of worldwide market metrics.
The top-selling sneaker style listed, the Nike Dunk Low Retro – colloquially referred to here as the Panda Dunk – ranked highest among all for the year, breaking all-time records, according to the host site.
Available in a sister colorway, the Dunk Low Retro SP “Syracuse” is noted amid the report as a margin builder among the six sneaker styles that resold, on average, for the highest markups over retail price.
The kicks pushed past an original price of $100, reaching $490 via GOAT’s platform.
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Top sales for “Under-the-Radar” styles, which excludes the four Top Selling brands – Nike, Air Jordan, Yeezy and adidas – reflects consumer interest in more niche options such as the “Comme des Garçons x Chuck Taylor All Star Hi 'Play'” cult-favorite high-top Converse.
With a bevy of indicators including wants, orders, offers, searches and engagement taken into account, GOAT raises three dominant apparel and accessories trends for 2022, based on respective metrics.
Popular Barbiecore resale items included Balenciaga Hourglass XS Top Handle Bag in “Fuchsia”, as well as Jacquemus’ Le Bandeau Valensole “Pink,” whereas with the utilitarian trend, Virgil Abloh’s Off-White Buckle Cargo Pants carried the category.
GOAT also breaks out data by macro metrics, inclusive of styles that saw the most movement and skyrocketed 2022 sales.
Findings pinpointed Air Jordan 1’s as the most popular global sneaker silhouette across 64 percent of the countries in which the company’s customers are based.
Functionality appeared to play an outsized role in annual purchase patterns, as athleisure brands Hoka One One and Salomon increased year-over-year sales by 361 percent and 236 percent, respectively.
Feature insights inform future fashion trends
Filed under the report’s “features” section, key insights reveal that luxury streetwear is forming a less-formal future while more closely aligning with the mantra “comfort is key.”
Besides the continued popularity of snug sneakers, one of GOAT’s key insights includes the rise of foam as the material of the year, heavily influenced by the proliferation of American footwear company Crocs.
This trend took the form of clogs, slides and slip-on options from mass market and luxury brands alike.
Propelled by collaborations with sneaker boutiques and streetwear brands as explained by GOAT, the Boston-based New Balance saw sales grow 115 percent from 2021 to 2022, capturing the fifth top-selling position on GOAT and reinforcing a return to relaxed dressing.
The concept of comfort transferred into a desire for nostalgia, most evidently reflected in the rise in pre-owned’s popularity – GOAT shares that more vintage than ever before was sold in 2022, as sellers adapted their inventory to accommodate larger cultural shifts.
GOAT Group has become an important resale marketplace for the generation's swaying the future of luxury, especially after having expanded beyond sneakers, with the introduction of luxury and streetwear apparel onto the platform in 2019 (see story).
Last month, the company announced an agreement to acquire streetwear resale platform Grailed with the aforementioned categories in mind.
The cash and stock deal aims to accelerate GOAT's rapidly growing apparel and accessories categories (see story).