How does StockX know you have shipped? (What to know!)
The internet market plays an important role in the sneaker industry. In 2019, the sneaker resale market generated approximately $2 billion in revenue in North America. Experts predict that by 2030, the global figure will reach 30 billion US dollars. One company that has taken the sneaker market by storm is StockX.
Since Dan Gilbert launched in 2015, the P2P marketplace has been devoted to buying new sneakers, streetwear, and several other items.
One of the things that many buyers care about when placing an order through the platform is shipping. How long does it take for StockX to ship, and how does StockX know that the seller has shipped? Read on to discover more.
How does StockX know you have shipped?
StockX knows you shipped because they get automatic updates from UPS. Once the product enters the UPS system, StockX will be notified and you will see the status update to “In Transit” on the StockX app.
After placing your order, you will receive an email confirmation with a deadline for product shipment. Print the shipping label provided, pack the item, and drop it off at your local UPS store.
From there, StockX takes care of the rest. To learn more about StockX and its shipping process, keep reading…
How long do StockX sellers have to ship?
Typically, StockX gives suppliers two business days to ship the order to their warehouse.
Of course, it will only be shipped after payment is made.
In the warehouse, each piece is rigorously scrutinized to determine its authenticity.
After the item passes the test, StockX ships it to the buyer. In the unlikely event that an item fails the test, StockX will return it to you.
How long does it take for StockX to verify and ship?
Typically, StockX strives to complete all orders within 7-12 days. This excludes weekends and holidays. However, you should be aware that the COVID-19 pandemic may cause delays.
Other factors that can cause delays include the speed at which the supplier sends the item to the StockX Certification Center. Additionally, legal inspectors may also require additional time to check specific items to ensure 100% authenticity.
Once the item has passed the multi-step verification process, the buyer will receive tracking information for the shipment.
How does StockX work?
Internet marketplaces operate on buying and selling systems. Here, the supplier sets the asking price, and the buyer provides their bid amount. The seller accepts the bid, or the buyer accepts the inquiry, and an item is sold. After the sale is complete, the buyer pays for the item.
Regarding the legality of StockX products, here is an in-depth look at how the process works. Once a buyer places an order on StockX, the seller receives a prepaid shipping label. The seller then ships the product directly to StockX’s warehouse. StockX acts as a middleman for this transaction.
The product undergoes a rigorous inspection process in a warehouse where experts assess its condition and authenticity. Later, when the item passes the authenticity test, the StockX team repackages the item and sends it to the buyer.
What can I buy on StockX?
StockX allows users to sell and buy the finest sneakers, electronics, streetwear, collectibles, accessories and trading cards. The platform’s biggest sales categories are streetwear and sneakers.
Brands such as Nike, Supreme, Jordan and Yeezy are the most prominent in this market.
How much does StockX cost?
Recently, StockX updated its seller fee structure. Seller fees vary from 8% to 10%, depending on the total cost of the item or the number of items the seller sells each quarter. In addition to the seller fees that StockX charges, the company charges a 3% processing fee per transaction.
Assuming you are a Tier 1 StockX seller, your total fee is 13% of the sale.
How do you cancel a StockX order?
Unfortunately, once a vendor has made a sale on StockX, it may not be possible to cancel your bid or inquiry. StockX revealed that it developed this policy to ensure the integrity of the online retail giant is maintained.
However, in rare cases, you can contact the StockX team and express your dissatisfaction.
What are the advantages of selling on StockX?
Selling on StockX is very easy once you master the art of bidding. Here are some of the benefits of selling on StockX:
- Authentication: Knowing that what you are buying is legitimate gives buyers confidence and peace of mind. StockX ensures that all items passing through its warehouse are checked for authenticity.
- Anonymity: Listing and bidding can be anonymous on StockX. It ensures fairness in the market. There will be no demands for competition, bribery or lower prices. With guaranteed anonymity, you can trade freely without worrying about your information being displayed publicly.
- Quick product listings and information: On StockX, listing is relatively easy without extensive research. You can easily find information about projects within the platform; thus, you can save time. Here, there is no need to write a description or take a photo. All you need to do is list your sneakers and wait patiently for a buyer’s bid.
- No Chargebacks: No chargebacks or chargebacks to worry about thanks to StockX’s strict authentication policy. Once your item is shipped to StockX, your job is done.
Want to learn more about StockX? Check out these articles to learn how long it takes StockX to authenticate, the conditions under which shoes are sold on StockX, and how long it takes StockX to ship.
in conclusion
StockX is a legitimate site to sell and buy all your favorite streetwear, sneakers, collectibles and electronics.
Having said that, StockX is not your regular e-commerce platform, which is why users need to do extensive research before making any transactions on the platform.
With the platform’s no-return policy, you must be careful before placing an order.
