StockX dropshipping is undoubtedly one of the most lucrative markets in the dropshipping scene. If you’d like to get a piece of the cake of this reseller business, keep it right here.
At the end of the round-up, you’ll learn;
- What StockX dropshipping is
- How StockX dropshipping works
- Advantages and disadvantages of selling on StockX
- How to start selling on StockX
Without further ado, let’s get started.
What is StockX Dropshipping?
StockX is an online marketplace started in 2015 to act as a middleman between sneakers sellers and buyers. The platform is a favorite to many collectors as it works as a typical stock exchange, as you can place a bid for your coveted pair.
Unlike your average marketplace that sells just any other sneakers, StockX deals with authentic products only. There’s a rigorous authentication of all products that are sold through the platform.
There’s absolutely no chance of replica Nike, Puma, or Adidas to end up being sold on StockX.
How Does StockX Dropshipping Work?
StockX expects you to have inventory of the shoes you list, but you can also dropship if you want to sell without inventory.
The dropshipping process is pretty straightforward.
Once you get an order, you have two days to deliver the item to a StockX facility. The QC team at StockX will authenticate the item, and if it passes QC, StockX will ship the product to the customer.
Is StockX Dropshipping Profitable?
The sneakers dropshipping industry was estimated to be worth $11.5 billion by the close of 2023 and is projected to blossom into a $30 billion industry by 2030.
From the above statistics, it’s evident that you’ve made a brilliant decision to start Stock X dropshipping.
There are many success stories out there, including that of Vernon Simms, aka’ Sizzle,’ a former DJ who now makes over a million dollars annually selling shoes on StockX.
So, why rely on StockX?
1. Trusted Marketplace
Since its establishment, StockX has earned a solid reputation in the sneakers market for selling only authentic sneakers. There’s a rigorous authentication process for all products before they are delivered to customers. You won’t get fake sneakers or replica products on this site.
It’s this trust that has made StockX a favorite for collectors, specifically sneakers enthusiasts.
As a seller, you can tap into this already-established client base to start your dropshipping business. According to a 2022 report, StockX had over 34 million monthly active users (MAU) and 14.4 million monthly unique visitors (MUV).
2. Easy to Sell
Another thing I like about StockX is that it’s easy to get started. I literally started selling in less than 10 minutes. There are no tedious KYC processes and vetting like with many other marketplaces.
Getting a StockX seller account is free, and there are no monthly subscription costs or any other upfront fees. You’ll only pay a fraction of the sales you make.
When it comes to payments, StcokX pays promptly.
It doesn’t hold your money like many other marketplaces, so you won’t have cash crunches when running your business.
3. Sell Beyond Sneakers
Initially, StockX started as a sneakers store, but today, the company has expanded its categories. Besides sneakers, you can sell designer handbags, streetwear, watches, jewelry, belts, sunglasses, and even electronics.
With more than one product category, you can sell more items. Selling in the additional categories is among the ways to maximize sales on StockX.
4. Sell with a ‘Fixed Price’ or ‘Bid System’
One thing that makes StockX unique is that you have two ways to sell. You can choose to sell with
- Fixed price
- Bidding system
You can opt to set a price, and buyers can place orders with the ‘Sell Now’ option. You can also go for the bidding option and let customers bid for the item with the ‘Ask’ option.
Challenges to Expect
Dropshipping on StockX has many benefits, and that’s why it’s a recommended marketplace for sneaker sellers. But like any other business, you’ll face challenges.
Below are the main hurdles to anticipate when running your StockX dropshipping business.
- Finding reliable suppliers
- Competition
- Capital required
Finding a supplier for your StockX dropshipping business is perhaps the biggest challenge to expect. This is considering you need to sell authentic products only, and besides, you need to ship the product to StockX facilities within 2 days.
There’s also stiff competition from other sellers. Many times, you’ll find the same Jordan 4 Retro Bred Reimagined (GS) selling for a lower price than yours.
Last, and perhaps the biggest challenge, is that you’ll need capital. Unlike traditional dropshipping, you need to buy the product from your supplier and send it to StockX. You’ll be paid once the product is authenticated and delivered.
How to Start StockX Dropshipping: Step By Step Guide
Now that you know a thing or two about StockX, let’s talk about how to start your business and thrive amid the stiff competition.
Step 1: Find Winning Products
To succeed in dropshipping, don’t just sell anything; look for winning products. As mentioned earlier, StockX started as a platform dedicated to sneakers, but thanks to its expansion strategies, you can now sell streetwear, watches, bags, and even electronics.
The rule of thumb when looking for the best StockX dropshipping products is selling high-end and luxury brands and rare and latest edition items, for example, Nike KD 4 Galaxy (2024).
Step 2: List the Product
In the second step, you need to list the item on StockX, and we’re glad the process is pretty simple. Click the Sell option, which redirects to a search bar where you need to type the item you’re selling and select it from the dropdown.
You’ll have the option to Sell Now at the highest bid or set an Ask for the price you wish to sell your item for.
The bidding system works like a typical auction where buyers place bids on anything they want, and the seller has the option of manually accepting bids. Besides, there’s an automated system that automatically closes down deals once a bid that matches the seller’s price is found.
When calculating pricing, make sure to include all the costs, from the original cost of the item to commission, shipping fees, and your profit. StockX charges around 8% -17.5% depending on your seller ranking and category.
Step 3: Fulfill Orders
The third and final step is fulfilling orders, and here, things take a twist from traditional dropshipping as we know it.
In StockX dropshipping, you need to purchase the product and have it delivered to the nominated StockX facility strictly within two days (a UPS shipping label will be provided). This is why you need to work with reliable suppliers and logistics partners.
At the StockX facility, a team of QC specialists will check the product and verify that it’s indeed a genuine product in proper condition as described.
Once the item passes QC, it’s packaged with StockX branding and shipped to the customer.
If the item fails QC, the item will be shipped back to your address. And that’s not all. There are also hefty fines – 15% of the product price and, of course, shipping will be on you.
How To Maximize StockX Sales
Now you know how to start your StockX dropshipping business. But how do you stand out from the crowd and drive in those sales?
To start, you’ll need to list as many products as possible. The more listings you have, the higher your chances of getting more sales. Always be on the hunt for the latest or rare sneakers or those high-end handbags and streetwear that are in demand.
You should also market your store despite StockX having an already established customer base. You can opt for social media and ads. Another way is to offer promotions and offers from time to time and ensure you always have the best prices.
Wrapping Up
That’s it, folks, a guide on how to start StockX dropshipping in 2024. Indeed, StockX is a great place to sell as it’s a trusted platform with a commitment to selling authentic products only.
Even though the selling commission is high, there are many success stories out there of entrepreneurs making millions in profits annually on the platform.
So, what are you waiting for?
Start StockX dropshipping, selling sneakers, watches, bags, electronics, and other merchandise, and make that extra coin.
Frequently Asked Questions (FAQs)
1. How long does StockX take to deliver?
StockX takes quite a long time to deliver, considering the products are not delivered directly. They have to undergo rigorous authentication just to make sure everything sold is genuine. On average, shipping takes 7-12 days.
2. What happens if StockX finds a fake?
If a product fails the authentication process, the product is shipped back to the seller, and a fine is applied to the seller’s account. This is why finding a reliable and trusted supplier is fundamental.
3. Does StockX accept returns?
StockX doesn’t accept returns, and this is a plus for sellers. Your option as a buyer is to resell the item on the platform.
Eugene Stepnov – Head of Marketing at Gologin. Formerly, He was the COO of Flatlogic and the co-founder of Kuoll. His main expertise is in promoting complex web SaaS products that lead in mar tech, affiliate marketing, dropshipping, cyber security, and web development.
