A new service launched Thursday by resale marketplace StockX will allow its customers to buy and sell footwear and other in-demand products including apparel and collectibles without ever needing to actually possess them.
Store at StockX is the latest addition to the Detroit-based company’s buyer and seller toolkit, bringing more flexibility to customers, whether they’re professional resellers or merely someone who dabbles as a side hustle.
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The way it works is simple: once a buyer checks out with the Store at StockX option, the product is shipped to one of the company’s global verification centers, where it’s then stored until the buyer decides to sell it or have it shipped to them.
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Emphasizing efficiency, Store at StockX ultimately allows sellers to profit more by cutting out the shipping and buying fees typically associated with transactions on the platform. Because buyers don’t need the items shipped when using the Store at StockX option, the fees are waived, resulting in better margins on tight-spread products.
The company anticipates this will allow customers to quickly react to trends and price swings, as the service cuts out the week-long waits that come with verification and transit time.
Perhaps the biggest draw for vetted and aspiring sellers alike is that Store at StockX doesn’t require users to have their own storage space. From buying to re-listing or choosing to have the sneakers shipped, every step can be done directly through the platform.
StockX hopes that this will also allow more sellers, particularly those who have been reluctant to participate due to transaction fees, to get involved in the space.
“By eliminating the need to physically move products, Store at StockX marks an evolution in how people engage with our marketplace,” said Greg Schwartz, chief executive officer at StockX. “It unlocks new opportunities for users who already buy with the intent to resell, while lowering barriers for those previously deterred by shipping costs and other fees. At the same time, it removes the burden of handling and storing inventory — two of the biggest challenges in resale today.”
Store at StockX is available now for StockX Pro Buyers and can be used on both “Buy Now” purchases and bids.