StockX will cut down the time it takes for some of its sneakers to reach customers by introducing a new Verified Sellers program.
Select sellers will be able to bypass StockX‘s authentication process and ship directly to buyers as of Thursday. In order to become a Verified Seller, a person must undergo a “rigorous” vetting and onboarding process that includes a background check.
At launch, less than 1 percent of total products sold by StockX will come from Verified sellers, and the plan is to scale the initiative. All other products will continue to go through StockX’s hands for authentication.
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StockX Chief executive officer Greg Schwartz said in a press release: “We’ve spent millions investing in our physical verification process to make it as strong as possible, and we spent months meticulously designing the Verified Seller Program to ensure we uphold our high standards and meet the expectations of our customers. We believe this program does that while also providing access to more products that are all backed by our StockX Buyer Promise. When we innovate to improve the customer experience, everybody wins and StockX Verified Seller is the latest example of our commitment to doing just that.”
After passing a background and identify verification check, a Verified Seller will have to participate in training for product listing guidelines, packaging and shipping. They’ll also have to maintain compliance standards and performance criteria and will be subject to regular audits that could include site visits and secret shoppers. Should they fail to meet StockX’s regulations, they’ll have their status as a Verified Seller removed.
In order to offer assurances without formal authentication for each product, SockX says it will right any issues that could arise in a purchase just like any other item. The Returns Policy introduced last year will also continue to apply without sellers being responsible for taking back returned items.