28 Jan, 2021
Latest News

StockX Will Soon Bury Most Third Party Sneaker Marketplaces, Amazon Included

tayib salami

Sharing is caring!

I may not be fond of StockX or even agree with portions of their pricing structure but let me reiterate what I already wrote in the title- StockX will soon bury most third party marketplaces that have made shoes their primary commodity. A good friend of mine has just sold more than $100k worth of sneakers in a little less than three months via StockX, something that can be hardly achieved in other marketplaces. StockX has built a system that works wonders for both sellers and buyers. We live in a day and age where time is precious. People are impatient and any service that can reduce the amount time it takes to either sell or buy a product will always win, and StockX right now is doing just that. Amazon’s one click ordering is the perfect illustration, here is what it does

When you click Buy now with 1-Click on any product page, your order will be automatically charged to the payment method and shipped to the address associated with your 1-Click settings.
And do you know why Amazon implemented that: because people are too lazy and don’t want to spend time entering their data every time they make a purchase.What has StockX figured out that other third party marketplaces haven’t yet?

For Sellers

1. You don’t have to upload your own pictures

2. Once your shoes are sold, you don’t worry about shipping, returns, non payment or potential frauds ( buyers claiming they never received the item, or claiming it’s fake, etc…)

3. The third reason is the best- you can sell your shoes instantly because of the already existing bids on them. I can literally sell 20 pairs of sneakers within an hour if the price is right. Do you know how long it’ll take to list 20 pairs of shoes on eBay. First, one must take pictures, upload them and create individual listings for every single one of those sneakers. By the time that task is completed, the individual has probably spent up to 4 hours on his/her PC. What did I mention before? I talked about time and a lot of folks have more than sneakers to sell in a single day ( other contingencies). Here is the worse part about selling on most third party marketplaces. Once your sneakers are listed, they might not even be automatically visible ( you may have to pay extra fees for more visibility); it’s similar to going fishing, you have to wait till the fish bites ( you have to wait till your item sells).StockX’s bidding system is the most  adequate platform for highly sought after items.

Not only that but we v’e all run into financial setbacks that compel us to liquidate our sneakers. I’ve seen countless folks on Facebook desperately trying to sell their sneakers for way below retail to no avail. Guess what? StockX has resolved that problem too with its existing bids ( you can literally liquidate your entire stock instantly). It’s the perfect model for both professional and personal sellers. Ebay and most traditional third marketplaces have remained complacent and still rely on an archaic system that’ll eventually collapse. EBay’s daily traffic is still probably 10 times greater than StockX’s. I can imagine how much better eBay would be if a similar system was adopted. I don’t think they will because sneakers aren’t their primary commodity. But here is the danger- what if StockX decides to expand unto other things? (remember Amazon in the beginning was only selling books). The only setbacks StockX has at this moment are traffic and the ridiculous lowball offers. If they can fix to these two issues, they’ll definitely bury most third party sneaker marketplaces. The potential for growth is limitless and soon I think even Amazon’revenues( from sneakers) will be dented. 

For buyers:

With the amount of “scary good”fakes in the market, StockX offers an authentication service that settles buyers at peace.I get tons of private messages from people asking me to authenticate their sneakers. When people buy from StockX, they don’t have to worry about receiving a fake shoe. That’s just one of many benefits the buyer receives from buying on this platform. i’ll finish this post with my own experience.

Consignment Stores Like Flight Club May Soon Be Fossils

 I’m currently getting rid of several pairs of Jordan retros and I have them listed on eBay, Amazon and kixify for the low (retail or a little above retail). I have to wait till those items are viewed and hope that someone will make the purchase. In the meantime I’m dealing with people asking me all kind of questions ( why so cheap, are they real , are you legit , send me more pictures). The worse part is that 90% of the folks asking these questions will end up flaking ( they won’t buy the shoes ). I can reach out to consignment stores or bulk buyers; but again I have to wait till the shoes sell ( if consigned) or deal with extremely lowball offers from bulk buyers that understand that I have a financial need hence beat you down with the offers. Then I have this option do: I can go on  StockX and sell all the shoes today at once because there are already offers on them. I won’t have to deal with none of the other alternatives ( time, lowball offers, shady consigners etc). What do you think I’m going to do?
At this point the  only thing StockX needs to do now is focus on acquiring a larger audience. Currently the best items to sell on StockX are the hyped sneakers, but eventually the platform will garner so much traffic that both buyers and sellers will understand how convenient it is . And when that happens , there will be a huge migration of sellers from other platforms to StockX. Ebay used to be so rigid; I got kicked off eBay because my roommate at the time had a problem with his account ( mind you it had nothing to do with me). My account was shut down  because we shared the same address. It wasn’t reinstated  until years later if I can recall. These days, I received tons messages from ebay asking me to evaluate the marketplace and asking me for feedback as it pertains to what can be done to make it better. You know what that means – Ebay is hurting and now the seller’s stock has increased . And it’s going to get worse for ebay with time.
tayib salami
Latest posts by tayib salami (see all)