Detroit-based resale platform StockX has released a new report with data on its latest verification advancements and metrics. According to the document, titled Big Facts: The Verification Report, StockX rejected nearly $90 million worth of products that did not meet verification standards over the last 12 months.
The most cited factor for product failure was manufacturing defects (27 percent), followed by fake products (20 percent). StockX authenticators stopped nearly $30 million worth of fake sneakers from trading on the platform. The most popular fake sneaker over the last 12 months was the Nike Dunk Low Retro White Black Panda, boasting an average resale price of less than $200.
On average, one million products go through StockX’ verification process every month, claims the platform. The company opened three new authentication centers in the last 12 months, including Berlin (August 2022), Tokyo (October 2022) and Mexico City (January 2023), adding nearly 17,000 sqm to its global footprint.
