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Source: Rokt | Unleash Relevancy in Ecommerce
Adding a personalized shopping experience to StockX could be seen positively or as a sign that one of the fastest growing third party e-commerce sites is searching for additional revenue. Rokt, “provides solutions for ecommerce businesses to grow revenue on their site, acquire new customers at scale, or deepen relationships with existing ones. They offer personalized offers to each customer after they’ve checked out.” There are countless shopping add-ons for browsers and services featuring cash back offers for customers who take their time to shop. One of the biggest issues for all third-party platforms has been add-ons to browsers showing a lower price for the landed product page. For example, if you’re browsing a site like StockX and Microsoft Edge Shopping is activated a potential consumer maybe tipped off to a lower price on a different site. While sneakerheads tend to know what they want without regard to the price, the average consumer who is more price conscious could see the shopping pop-up and click away from the site.
There isn’t much that StockX can do to counter this, so it appears the company is adding “functionality and personalization” to their platform to capture a percentage of transactions via Rokt. This new update arrives less than a year after StockX began to recapture lost revenue by adding a 4-dollar fee for sellers shipping one item to the company. The goal was to reduce the overhead by making bulk shipping the standard for sellers. While the 4-dollar upcharge for sellers shipping one item is an effective method of recovering lost revenue, in previous posts, by my research, the site still loses money on shipping:
Does eBay Really Have the Best Fees in the Game? How Shipping Shapes Sneaker Resale
An interesting point of discussion is how StockX recently created a new VIP program. This program replaced the VIP Representative Program which placed “power” sellers with their own personal reps who could expedite the addition of product to the resale platform or take care of cancellations without having to use the channels smaller sellers utilized when they had issues. While it’s unclear whether the VIP reps were laid off or left the company is unclear, but I’ve been stating for years that StockX would have to shore up revenue before launching an IPO. With the market and Wall Street becoming a bit more settled down after supply chain issues disrupted businesses for three years, it seems companies will begin to make the move from private to public again in the next year. This means that StockX will have to show revenue growth because the books will be opened if they become publicly traded.
Is the Launch of the StockX Power Exclusive (PE) Team Another Sign of Slowness in the Market?
The updated Rokt feature is active on both the buyer and seller sides of the transaction and looks like this once you complete your bid/purchase or sell/listing. Could this be a sign of an impending IPO? Analysts are already stating Rokt is moving quickly towards this publicly traded process. StockX may be right behind them with all of the changes taking place in the company. This is definitely something to keep an eye on. Below are images of how Rokt functions on both the sale and buy side of the interface. If you’ve visited the site before cookies will remove the Rokt information and you won’t see the prompts shown below.
