The internet marketplace plays a considerable role in the sneaker industry. In 2019, the sneaker reselling market generated an estimate of $2 billion in North America. By 2030, experts project this amount to be at $30 billion globally. One company that’s taking the sneaker market by storm is StockX.
Since its launch in 2015 by Dan Gilbert, the peer-to-peer marketplace has committed to buying new sneakers, streetwear, and several other goods.
One thing that concerns many buyers when making their orders through this platform is the shipping. How long does StockX take to ship, and how does StockX know the seller has shipped? Keep reading to discover more.
How Does StockX Know You Shipped?
StockX knows you shipped because they will get automatic updates from UPS. As soon as the product is in the UPS system, StockX will be notified and you’ll see the status updated to ‘en route’ on the StockX app.
As soon as an order has been placed, you will get an email confirmation with a deadline to ship the product. Print out the shipping label provided, package the item, and drop it off at a local UPS store.
From there, StockX takes care of the rest. To learn more about StockX and their shipping process, keep reading…
How Long Do StockX Sellers Have To Ship?
Typically, StockX gives vendors two business days to ship orders to their warehouses.
Of course, the shipping only happens after the payment has gone through.
At the warehouse, each piece undergoes stringent scrutiny to determine their authenticity.
Once the item has passed the test, StockX ships it to the buyer. In the unfortunate event where the item fails the test, StockX will return it to you.
How Long Does It Take StockX To Verify And Ship?
Generally, StockX strives to complete all its orders within 7-12 days. This isn’t inclusive of weekends and holidays. However, you should note that the COVID-19 pandemic may cause delays.
Other factors that could cause delay include how fast the vendor sends the items to StockX’s authentication centers. Also, legit checkers could also take some extra days on a particular item to ensure 100% authenticity.
Once the item has passed the multi-step verification process, the buyer receives tracking information for the shipment.
How Does StockX Work?
The internet marketplace operates on a bid-ask system. Here, vendors set an asking price while buyers offer their bid amounts. A seller accepts a bid, or a buyer accepts an ask, and then an item gets sold. Once the sale has taken place, the buyer pays for the item.
On the subject of the legitimacy of StockX products, here is an in-depth look at how the process works. As soon as a buyer places an order on StockX, the seller will receive a prepaid shipping label. The seller will then ship the product directly to StockX’s warehouses. StockX acts as the middleman of this transaction.
The product undergoes a rigorous inspection process at the warehouses where specialists assess its condition and authenticity. Afterward, when the item has passed the authenticity test, the StockX team repackages the product and sends it to the buyer.
What Items Can I Buy On StockX?
StockX allows users to sell and buy the most excellent sneakers, electronics, streetwear, collectibles, accessories, and trading cards. The platform’s largest selling categories are streetwear and sneakers.
Brands such as Nike, Supreme, Jordan, and Yeezy are the most prominent in this marketplace.
How Much Does StockX Take?
Recently, StockX updated its seller fee structure. The seller fees range from 8%–10% depending on the total cost of the items or the number of items a seller sells quarterly. Besides the seller fees StockX charges, the company charges a 3% processing fee on every transaction.
Say you are a level 1 StockX seller, the total fees you will need to pay would be 13 percent of the sale amount.
How Do You Cancel A StockX Order?
Unfortunately, once a vendor has made a sale on StockX, it may be impossible to cancel your bid or ask. StockX reveals that it put this policy into place to ensure the integrity of this online retail giant is upheld.
However, under rare circumstances, you may contact the StockX team and air your grievances.
What Are Some Of The Pros Of Selling On StockX?
Once you have mastered the art of bidding, selling on StockX will be pretty easy. Here are some benefits of selling on StockX:
- Authentication: Knowing that the item you are purchasing is legit gives buyers confidence and peace of mind. StockX ensures all items passing through their warehouses undergo an authenticity check.
- Anonymity: anonymous listing and bidding are possible on StockX. It ensures fairness in the marketplace. There will be no competition, bribing, or requests to lower prices. With your anonymity guaranteed, you can transact freely without worrying about your information being displayed publicly.
- Quick product listing and information: On StockX, the listing is relatively easy, and there is no need to carry out extensive research. You can easily find information about items within the platform; thus, you can save time. Here, there is no need to write descriptions or take photos. All you need to do is list your sneakers and patiently wait for buyers’ bids.
- No chargebacks: Because StockX has a stringent authentication policy in place, there is no need to worry about chargebacks or refunds. Once you’ve shipped your items to StockX, your work is complete.
Want to learn more about StockX? Check out these articles to learn how long does StockX take to authenticate, what condition do shoes have to be to sell on StockX and how long does StockX take to ship.
Conclusion
StockX is a legit site to sell and buy all your favorite streetwear, sneakers, collectibles, and electronics.
With that being said, StockX isn’t your regular e-commerce platform, which is why users need to perform extensive research before carrying out any transactions on the platform.
With the platform’s no-return policy, you must be careful before placing your order.