The fashion resale market is getting more competitive each year, with an increasing number of third-party platforms and brand-owned resale programs coming to market.
As such, longstanding resale companies are constantly making updates to stay competitive. Most recently, that’s taken the form of logistical changes that promise to improve experiences like shipping and returns.
According to resale platform StockX, it’s received feedback for years that both buyers and sellers wanted a faster shipping option. StockX is for its sneakers and streetwear, but it also sells watches, electronics and collectibles.
“Our customers have always told us that shipping takes too long,” said Drew Haines, merchandising director for sneakers and collectibles at StockX.
In response, on September 19, StockX launched a program called Xpress Ship. Select sellers were invited to join the program, sending their goods to StockX to be pre-verified before a buyer was secured. Goods that have been pre-verified are called out on the StockX site through a small rocket icon. When a buyer purchases the item, it is shipped immediately and delivered within three days.
This is a new process for StockX. Traditionally, sellers haven’t sent an item to StockX for verification until a purchase is made, prolonging the time before the buyer receives it. The process can sometimes take weeks.
“Xpress Ship is a direct result of community feedback,” said Scott Cutler, StockX’s CEO. “We’ve surveyed tens of thousands of StockX customers, and fast shipping has consistently ranked among the most requested features. As a marketplace connecting buyers and sellers, we don’t have complete control over shipping times. This launch gives us more ownership over the pace of deliveries and allows us to offer a better and faster experience for our customers.”
Haines said the number of StockX sellers currently offering Xpress Ship is small, but the company hopes to increase that number over the coming months, including opening it up to sellers outside the U.S. beginning in 2024. To store all that extra inventory, StockX has been investing in its warehouses, opening new a new location in Mexico and remodeling its NYC drop-off location to include more storage space. The announcement comes on the heels of other logistics-focused changes StockX has made to the platform, including lowering seller fees over the summer and adding a return option at the beginning of 2023.
StockX isn’t the only resale company improving logistics behind the scenes. Recurate, the resale company that powers the resale program at brands like Steve Madden and Mara Hoffman, announced a new ResaleOS program on September 18. The program provides a collection of new behind-the-scenes options to brands offering resale including streamlined returns and faster shipping through partnerships with UPS, Canada Post and DHL, among other carriers.
“Our resale operating system is the culmination of years of experience supporting dozens of brands, leveraging their feedback and the expertise of our operational partners,” said Wilson Griffin, CEO of Recurate. “The retail industry is only scratching the surface of the secondhand market, and we [want] to support our brands and customers with the next generation of technology.”
The prevalence of faster shipping, lower fees and better logistics across the resale industry is a necessary evolution, Haines said. As customer expectations shift and the e-commerce landscape embraces more convenience, resale has to keep up. Though resale’s business model — which requires the management of thousands of unique inbound and outbound products each week — is more complex than that of traditional retailers, it’s a move resellers have to make.
“In the Amazon world, everyone expects things to arrive in a few days,” Haines said. “Three-day shipping in the U.S. for us is a game-changer. It was an obvious thing to do and it’s one of the biggest initiatives we’ve done to improve the experience for both buyers and sellers.”