Many people have been asking the same question: Is StockX Legit? on Instagram, Twitter, TikTok, and in your group chat? We’re here to help fill in the missing pieces. Let’s find the final answer.
No matter if you like retail sales or not, there is really no denying that it plays a crucial role in the world of running shoes. In reality, this $6 billion USD industry is predicted to expand by a grand total of 25% by 2025.
It is also really no surprise that supplementary sneaker markets like StockX are growing in popularity even though there are many online platforms also growing out there. As per The NPD Group, this system accounts for a truly astonishing 29% of all sneakers purchased on the internet.
So, what’s the deal with its current popularity? Why do 60% of Gen Z men purchase their new favorite shoes and street-style items from StocX? Most notably, is StockX legit? Let us investigate and direct you through this blog post.
- StockX is widely known as the very first as well as the biggest online second marketplace for purchasing and selling genuine items, particularly sneakers.
- The platform has a dual-stage verification procedure to make definitely sure that each and every product you get is 100% real.
- This way, you can be certain that StockX is legit and trustworthy to buy and sell your products.
So, What is StockX, Actually?
StockX, as previously stated, is a supplementary e-commerce platform that allows you to purchase and sell shoes. Chris Kaufman, Greg Schwartz, Josh Luber, and Dan Gilbert originally founded The Stock Market Of Things in Detroit, Michigan, in 2015.
After six years, the wholesaling marketplace employs approximately 1,000 people in 197 nations and territories all over the globe. In addition, they have even expanded into selling premium designer bags, watches, and electronic parts, in addition to their prominent items – sneakers.
It was revealed last year that up to 71% of sneaker collectors tended to favor StockX above any other buying and selling website. This can prove that StockX is very popular and trusted among young people. In addition, StockX is even ranked among the top ten most popular marketplaces among upper-income Gen Z males, with millions of visitors a month. And you can consider this as an indication that StockX might be legit.
How does StockX Actually Work?
As you might know now, StockX is widely known as the very first stock exchange for objects, typically sneakers. So, if you would like something in your private collection, no matter if it is street fashion, shoes, or knick-knacks, all you have to do is go to StockX. After that, simply offer a price that any salesperson could really accept or buy instantly at the lowest listing price.
As shortly as your payment has been received, the salesperson will be commanded to deliver the product straightforwardly to StockX. Here, your items will be authenticated by professional employees at StockX. The product is then shipped straight to your entrance, securely bundled with a beautiful green StockX-branded label. This package is to ensure that your buying has passed the most rigorous standards of legal checks.
In order to sell on StockX, simply list the products for sale or offer them instantly at the top offer. So, whenever somebody decides to purchase it, the product will be delivered to StockX in less than two business days. By doing this, the StockX team can have enough time to authenticate the item. If it meets the requirements, it will be delivered to the purchaser. Therefore, if it goes badly for any purpose, on the flip side, it will be returned to you.
What is the StockX Authentication Procedure?
In fact, you may be curious to know how the StockX verification procedure actually works. And as you might know, StockX has six verification centers all over the globe. Therefore, every item is subjected to stringent, multi-step confirmation processes. In fact, this is to make sure that what you are purchasing is 100% genuine.
To begin, StockX just accepts a range of images of products on their global market. To put it simply, you can understand that each and every product purchased or sold on the StockX marketplace must really be completely new and never dressed or worn. Basically, the material building is then carefully examined using worksheets of 100+ pieces of data, and this process is repeated for the wrapping, too though.
Even though it is simple for counterfeit manufacturers to imitate sneaker innovations, StockX utilizes deep learning algorithms. As lots of you might not know, their major purpose is to help their authenticators capture each tiny issue. Accordingly, this would not be completely Boxfresh unless every single device and extra add-on was present. Therefore, these should be included even before the item is shipped to you.
This procedure, according to StockX, as well as the recognition of many customers, guarantees a 99.95% precision rate. What’s more, if StockX may get a forgery, they have a centralized record that is regularly every day. As lots of you might know, this process is to aid in keeping their team better informed and kept up to date.
How Long Would It Take For StockX to Deliver?
As you can see, StockX makes every attempt to fulfill all orders within a week to 12 days, excluding weekends and public holidays. They try to do this so that you can receive your order as soon as possible. Having said that, there could be a small pause owing to the global epidemic or so.
There are other variables that could lead to slowdowns. In particular, one of them might be the seller’s ability to deliver the product to one of their verification hubs as soon as possible. Accordingly, this could be due to the shipping to their hubs.
Legitimate testers, in reality, might also spend a few additional days on a specific product if they would like to be certain. In fact, this would be subjected to extra tests and examinations to make absolutely sure that what you receive is legitimate. Therefore, there is no need to worry if StockX is legit or not. So, now, you have your own answer, right?
Could You Cancel A StockX Order?
Sadly, your ask or bargain cannot be nixed after it has been accepted. In other words, you can not cancel your order on StockX once you made that order. Basically, this is done to prevent folks from purchasing and selling stuff without keeping their end of the bargain. Therefore, this creates a genuine, active, and reliable ecommerce platform.
But if you have a unique case that prevents you from fulfilling your buying or selling, there is no need to worry. All you need to do in this case is that you could really reach StockX straightforwardly and describe your situation. In general, there are times when they might put an end to payment, although this is pretty uncommon.
So, Is StockX Legit?
Let us just start with the fundamentals. One of the explanations for StockX being a secure marketplace to purchase is its authentication procedure. And you know, this process is also widely known as their accomplishment in life. As lots of you might know, StockX currently hires more than 300 qualified and experienced authenticators. For those who don’t know, these are the ones who collaborate with almost 200 supporting documentation group members ranging from knowledge administrators to quality control experts.
It is worth noting that just a small portion of their evaluation process includes counterfeit items. It also would include more overall mistakes. Let’s say when an item is an incorrect size or adornment is lacking is among those mistakes. StockX’s validators make absolutely sure that there are no production deficiencies, that the wrapping paper is not broken, that all parts are included, and that the item is the correct size. So, you can be absolutely sure that all the items on StockX that you receive are genuine, and StockX is also legit by itself.
All of this probably amounts to an exceptionally high level of quality assurance. And if you get a product that does not meet StockX’s top quality and precision standards, don’t fret because they will have your back. StockX, as you now know, does stand behind each and every order. As such, if an error occurs, their first-rate customer service department will be available to fix the problem and get you the correct item. So, whichever the circumstances, you can really rest assured that StockX is secure.
As you take into account the greater context of shoe fraud’s historical past, this is a huge upgrade actually. StockX, as you now know, was founded in 2016 with the goal of providing transparency and credit to the tumultuous and ambiguous shoe second-hand market.
If you are a sneakerhead, you might know that purchasing shoes was a dangerous venture back then. In particular, frauds were popular, counterfeits were prevalent, and purchasers had very little security against bogus purchases. Empirical analysis even showed that the fake shoe market would be worth $450 million in 2020. The sale of counterfeit shoes, as times goes by, has already become prevalent and pervasive.
Beyond the StockX, the second-hand shoe market is really dangerous, typically for those who are new to this amazing world of fake sneakers. In particular, this market is demonstrated by the $500 million in forgeries sold every year. Having said that, buying and selling on StockX is completely distinctive, secure, and legit as well. StockX shifted the rules by adding a confirmation cover on top of the typical transactional relationship.
And by having to stand between sellers and purchasers and confirming each product sold on StockX’s global market, they decided to move beyond the old world. It is the world that you might all know, obtaining counterfeit shoes was commonplace. And the new world that StockX creates is a modern world in which confirmation was core to the customer experience. In a nutshell, StockX made purchasing far safer and more secure than it had previously been.
StockX began as a just-sneaker global market more than six years ago. This indicates that they have had more than six years to refine the science of confirmation. Overall in that period, more than 35 million items have been verified by StockX, and they have managed to learn from each and every single one of them.
Their understanding and abilities have also grown far beyond shoes to many other types of products. In particular, since 2017, StockX has been validating clothing and accessories and knickknacks. And two years later, they have also provided playing cards.
What’s more, StockX even has an amazing group of specially trained validators employing a three-pronged approach. For those who don’t know, this brand-new technique incorporates technical expertise, high-touch human verification, and up-to-date AI technology. They are equipped with a massive database of patented technology intelligence gathered from years of real-world experience.
This dataset, which contains over one billion active users, enables their validators to better evaluate the validity of each and every item sold on StockX. They have largely removed the once-common threat to purchasers of buying fake items. And the key method they use here is to establish and optimize the science of confirmation.
In fact, you don’t even have to give yourself the benefit of the point in terms of believing StockX and its authentication procedure. Millions of folks all over the globe have placed their trust in their platform since its inception and got to vote with their pocketbooks.
Nowadays, StockX has become one of the most important global marketplaces for cultural context. You can understand it like this. Since StockX is famous all over the world, people from different regions can sell and buy items on this marketplace. Each month, more than 30 million buyers visit StockX, and folks from all over the globe make purchases on the site.
Andreessen Horowitz, a top venture investment firm, listed StockX as the top 5 best customer marketplace this year. What’s more, StockX is even ranked as the top marketplace for clothing and accessories, shoes, as well as other current culture goods.
According to questionnaires, Gen Z buyers consider StockX to be their preferred secondary e-commerce platform among various online platforms out there. What’s more, they even consider StockX as one of their favorite sites on the whole. StockX is, in reality, much more popular among these young folks than several of the globe’s most well-known brand names. More than half (in particular, 60%) of men Gen Z sneaker collectors utilize StockX to purchase or sell sneakers.
11 Facts About StockX, Its Shoes, Authentication, Shipping, and Returns
As lots of you might not know, Foot Locker made an investment of $100 million in selling marketplace GOAT in 2019. Accordingly, it is the biggest financial deal to date. Even so, StockX is regarded as the industry leader. And you know, below are a few of the purposes behind as well as little-known facts about StockX, its shoes, authentication, shipping, and returns.
- As you might know, the shoe resale marketplace is rapidly expanding. In particular, it had an addressable market of $6 billion in 2019. In addition, it is expected to develop to $30 billion by 2030. In 2021, the leading silhouettes on StockX were always the Air Jordan 4, Yeezy 350, Air Force 1, Nike Dunk, and Air Jordan 1.
- Generally speaking, StockX was widely known as the very first shoe resale marketplace to be valued at a billion dollars. Particularly, it accomplished this in just under 3 years and currently sells more than a billion US dollars of merchandise every year. Therefore, the prominence of street fashion and StockX’s formation of a dependable resale platform at which items are verified minimizes the danger of fake items or bogus payments. Accordingly, StockX is now worth $3.8 billion.
- StockX has received investments from a number of high shareholders, such as the CEO as well as the Founder of Salesforce, Marc Benioff, and GV. As lots of you might know, they used to be famous as Google Ventures.
- With more than 125,000 item listings from more than 500 brands on its marketplace, StockX has emerged as one of the globe’s biggest resale platforms for shoes and sneakers, making it a perfect place for sneakerheads.
- The title StockX refers to a stock market of items, a platform at which customers can purchase and buy products such as relatively uncommon shoes and luxury garments. Like a securities exchange, products on StockX are bought and sold as goods and services, with prices of items decided by both supply and demand.
- In 2019, shoes accounted for roughly 75% of all sold goods on StockX. On the flip side, StockX’s leftover purchases are split between designer bags, street style, and watches as well. Deena Bahri, widely known as the chief marketing officer of StockX, said that there was a significant focus on investment options, such as style, paintings, video game consoles, as well as designer items. And you know, all of these items could be used while gaining value over the years.
He added that they also fully comprehend that when their customer expands, their asset alters over time, and so many advances to higher-priced goods when they start moving on to the next profession or ten years in their lifetimes. Having said that, they would not go so far as to say they were attempting to transform into a one-stop store. Their North Star is to transact in a consumerist society, which is continually shifting.
Their loyalty strategy, if you have ever noticed, is centered on trying to stay relevant to their existing customers at all times. In the end, the final objective is to keep pixelating the distinction between retail and resale.
- StockX’s customer base is really fresh and young as well, with 70% of customers under the age of 35 years old. In addition, the marketplace is even exceptionally common among Generation Z, with roughly 60% of men and Gen Zs disclosing that they utilize it. Even so, StockX has been seeing development in the female as well as 45+ demographic trends in the latest days.
- The verification procedure is considered among StockX’s pillars of achievement. After completing a transaction on the marketplace, the supplier must send the products to one of StockX’s verification hubs before the items are delivered to the purchaser. Then verification hubs focus on ensuring that the product is not fake in order to protect purchasers from being made use of. The most crucial thing here is that all the items are examined by qualified testers at verification hubs, not by machine or so.
Derrick Register, the VP of operations, said that even though they could not reveal all of their secret sauce, StockX’s verifiers are taught to pass through, on median, 50 distinctive checkpoints to decide the validity. From that, they can confidently confirm that a running shoe meets their range of images condition benchmark.
Among several other factors, the multi-step verification procedure involves strategies such as carton building testing to make absolutely sure the texture is accurate or the toilet tissue is the correct color, item verifications for a seam or adhesive bonding discrepancies. What’s more, even the confirmation of the text color and size labels and invoices is also carefully checked.
- StockX chairman Josh Luber wishes that one day, the fixed pricing discovered in major retailers would be replaced with variable pricing driven by demand and supply. And if you notice, this is similar to how merchandise rates are decided on StockX. Let’s take Travis Scott x Air Jordan 1s sneakers, for instance, which went on sale for $175 but managed to sell for $800 on StockX.
- While a lot of people use StockX to discover prestigious limited-release products such as antique Jordans, a few of the most popular categories on StockX are Reebok, designer shoes, as well as slides.
- In 2019, StockX decided to expand its offline business by opening the very first retail shop in New York City, which you might not see in other online similar marketplaces. Luber said that as a web-based company, it is wonderful to be nearer to their clients and interact directly with them. And that they were really thrilled to have New York as their initial place.
Frequently Asked Questions
Is StockX suitable for Supreme?
Definitely yes. Once you purchase any Supreme item from StockX, you can be certain that you’re receiving a genuine item, whether it is a package logo t-shirt or jacket. Because of the prominence of the label and the number of knockoffs, StockX verifies each Supreme product they receive in their verification hub. And you know, this process is done by trained employees so that you can really purchase with assurance.
Is it true that StockX sells counterfeit sneakers?
StockX does have an extremely strict procedure in place to ensure that the products you get are completely genuine. In particular, Stock has a two-step authentication and confirmation procedure in place to weed out potential forgeries, replicas, and counterfeits. Therefore, you can always be sure that sneakers you bought from Stocks are totally genuine.
Is Louis Vuitton’s StockX genuine?
Louis Vuitton, as lots of you might all know, is considered among the most duplicate brands around the globe. As such, StockX authenticates each item they got to make absolutely sure you get a legitimate and genuine product.