- StockX is experiencing delays in shipping and authenticating as well as in payouts for buyers and sellers.
- The company confirmed on its website that shipments could be delayed for two to three weeks because of high demand and COVID-19 headwinds. A spokesperson said that most orders and payouts are delayed by an average of 10 days.
- Business Insider previously reported that StockX was facing a crisis its authentication centres as early as April, with product piling up and workers testing positive for COVID-19.
- Users of the leading sneaker and streetwear resale platform have taken to Twitter to voice their frustrations with being made to wait multiple weeks for a delivery or payout.
- If you’re a StockX employee with a story to share, reach out to [email protected]
- Visit Business Insider’s homepage for more stories.
StockX’s unprecedented success is taking a toll on its operations.
The resale marketplace and product authenticator that recently surpassed 10 million lifetime sales since its founding in 2015 is experiencing massive delays in shipping and payout services. According to the company’s website, “orders and payouts may be delayed 2 to 3 weeks,” because of COVID-19 and high demand. A spokesperson said that most orders and payouts are delayed an average of 10 days.
StockX operates six authentication centres globally, four of which are in the US in Georgia, New Jersey, Arizona, and Detroit. These centres, to which buyers ship their products to be verified and reboxed by StockX authenticators, are where the essence of the platform’s status as a resale middleman comes to life.
Users of the leading sneaker and streetwear resale platform have taken to Twitter to voice their frustrations with being made to wait multiple weeks for a delivery or payout. GOAT, a similar platform, has stated that buyers should expect delays due to COVID-19 related problems as well, though the outcry on social media has been largely focused on StockX.
Is stockX ever gonna send my shoes? anybody else having the same problem with them folks????
— akeem akway (@akeemakway) August 16, 2020
Hey @stockx I ordered shoes back on July 11th and still haven’t gotten em yet ????????????
— Jake Franklin (@jake_theviking) August 18, 2020
Finally got my StockX payout! I will never use them again in the future.
— Luis (@theluisdiaz) August 19, 2020
@stockx it’s been 42 days and I still haven’t got an update on my order!? I just want a refund at this point
— Zay ???? (@isaiahdorty) August 21, 2020
A StockX representative said the company is working to accelerate seller payouts and communicate better with customers via “custom messaging” that explains what to expect on the platform.
“At StockX, we have prioritised the health and safety of our front-line workers while also experiencing record volumes of traffic, trades, and new buyers and sellers on our platform,” the company spokesperson told Business Insider in a statement. “While we are positioned to capitalise on this explosive growth and the narrowing of the digital divide, the reality is that the trifecta of the surge in volume, ongoing challenges to operate safely in the middle of a pandemic, and slowdowns from third-party transportation carriers have contributed to a delay in shipments and payouts.”
The spokesperson added that StockX expects to return to standard shipping times by the end of the month for most customers and that the company is investing in additional authentication centres.
In general, an increase in exclusive sneaker releases and a widespread desire to make money as a side-hustling reseller has contributed to an overall boom in the sneaker resale market. StockX had its two biggest months in history during May and June in terms of buyers.
“Given our reliance on global shipping providers, we are naturally subject to delays and disruptions in countries under quarantine,” said StockX CEO Scott Cutler in a statement on the company’s website. “However, at the time of this posting, such disruptions are minimal, and customers are receiving the same high level of service. While the fluid nature of this situation may impact the customer experience in the future, we are proactively planning for every contingency to minimise any disruption to our customers.”
Business Insider previously reported that StockX was facing a crisis its authentication centres as early as April, with product piling up and workers testing positive for COVID-19.
If you’re a StockX employee with a story to share, reach out to [email protected]
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