Project Proposal For StockX

By: Alex Ciletti Professor Schuck

“The Stock Market of Things”

What is the Opportunity?

Streetwear! *Focus*

Current Situation• Just like sneakers, streetwear products will

often sellout at retail price and then resold on eBay for profit.

• However, some streetwear products sold on eBay are counterfeited without the customers knowledge.

Typical Supreme line-up on Thursday mornings

Rain or shine, Supreme customers will line-up for releases

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Key Success Factor• Mastering of authentication products.

• High-priced Supreme products are often counterfeited.

• No customers should ever receive a counterfeit product.

Analysis of Alternatives

• StockX prefers its first expansion to be relatable to sneakers.

• Will suggested addition of products offered have potential for making adequate and sustained profit?

• Add a dedicated section to StockX’s website for streetwear products.

• Can use the same format and concept used for sneakers.

• Allow buyers to place bids on products, and sellers to accept bids for sales.

• Create a informative “market” for these added products.

Strategic Solution Option

Benefits• For Buyers

• Secure buying platform; protection from unauthentic products. Peace of mind when buying.

• Access to market prices for items posted.• For Sellers

• Secure selling platform; protection from fraudulent buyers.

• Quick payouts. Once product is authenticated, seller is paid.

• Selling platform with a global customer base.• For StockX

• Adding streetwear will open the doors to adding other products (Luxury goods, accessories, collectibles).

• Profit from added products.

Risks• Authentication practices will have to be learned for new

products. Risk of unintentionally allowing a fake product to be sold to a customer. StockX will potentially face many counterfeit products.

• Project disrupts sales. Will the added product disrupt sales?

• How profitable on the secondary aftermarket will the Supreme brand be in the future?

Recommendation

1. Implement a new marketing strategy that attracts buyers/sellers for new streetwear section of website.

2. Master the authentication process for added streetwear products.

3. Start adding recent, popular, profitable, and current streetwear products to website.

4. Monitor feedback from buyers/sellers for suggestions.

References

• https://stockx.com/how-it-works• http://thesource.com/2016/02/19/video-new-yor

k-city-supreme-enthusiasts-line-up-for-ss-2016-collection/

• http://www.supremenewyork.com/lookbooks

SlideShare link

http://www.slideshare.net/AlexanderCiletti/slides-project-proposal-ppt