StockX is a leading consumer e-commerce marketplace, which connects buyers and sellers. It is a resale marketplace for consumers of current culture. As being a Detroit based company, it proved its worth by achieving unicorn status. It raised a $1 billion-plus valuation to achieve that title. And now this company is one of the fastest-growing e-commerce companies around the world.
When a company starts achieving heights, everyone wants to know the reason behind it. So, what made this company rise so high?
According to the CEO of StockX, 75% of their consumers are under the age of 35. And fulfilling their consumer’s wishes and requests is what they have been doing. The two most important factors that made StockX rise was because of their workers and consumers. A company is not a single unit, it is a product of the people who work for it. Be it the CEO or the workers, if they do not have the same vision and follow the same goal, a company can never achieve its objective.
Keeping this thought in mind, the company takes care of its employers, so, they could revert this favor. The employers of the StockX company share a mutual understanding, which eventually leads everyone to the profit. Especially during the pandemic, the company prioritized the health and safety of their front-line workers. The CEO of StockX believes that as long as their company employers are in good shape, the company will never cease to pursue its goals. Moreover, taking care of their workers during the pandemic, resulted in, now procedures that will stick around with the company. Together with the employers, the StockX company found ways to increase productivity and to increase connections.
There’s no magical way or shortcut to win the heart of millions of people. But transparency is one of the ways you can achieve it. Transparency of a company increases the trust of consumers, strengthens innovation, and increases productivity. Therefore, one of the pivotal decisions of the company was to be transparent to its consumers. It makes every customer feel like their wishes are heard and their problems are the problems of the company.
The StockX company is transparent about, the challenges it faces and how it addresses safety, delivery times, and social injustice. Which eventually leads to the current scenario.