StockX‘s business model is definitely to be commended; they’ve come up with a great system that ensures that buyers and sellers conduct their transactions at a low risk. I’m referring to the authentication service of course; and all their authenticated sneakers are slapped with a green tag. As great as the idea of a tag is, it involves a risk and I don’t know if the company ever gave it much thought. Fake sneakers have graduated and I’ve written several posts about it; if the bootleggers can replicate receipts from retailers like Footlocker, how easy is it to forge a plastic tag. I doubt that StockX ever considered it and it’s going to be a thorn on their side if they don’t address it as soon as possible. There are tons of fake sneakers coming from China that bear the Stock’s authentication green tag and consumers especially eBay buyers will be conned because of it. This can work into Stockx’s favor though; what do I mean by this? People will be compelled to only buy from their platform in order to be guaranteed an authentic sneaker. What I’m trying to say is that StockX can not be responsible for sneakers one bought from another seller even if it bears the green sticker. And if that’s the case, folks will be indirectly forced to buy only from StockX to avoid problems, consequently as bad as the situation is, it’s good for StockX.
On the other hand, their brand is being dragged into the mud so this problem can’t be ignored. StockX will have to educate folks on identifying a real from a fake tag. But in all honesty they’ll have to come up with a different technology because plastic tags like the one they use now can be easily replicated. But all this is revealing is that StockX has finally established itself as a legitimate marketplace threatening Ebay when it comes to exclusive sneakers. Last week I was in my local mall picking up a shoe and the manager asked me if I was going to sell it on StockX. Ebay used to be the common phrase in most people’s mouth and StockX is progressively taking that spot. Bootleggers creating fake StockX’s tags only support the fact that the company is now globally known and spreading, but with it come problems that must be dealt with. I’ll end on this note but beware of these fakes and buy only from reputable sellers.
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