Last Updated on September 13, 2024
Finding an online sneaker marketplace is relatively easy. But locating a website that offers premium-quality sneakers at industry-competitive rates is harder than you can possibly imagine. That’s why due diligence is paramount when scouting around for your next pair of sneakers.
GOAT features prominently among the world’s best sneaker marketplaces. The company claims to offer quality sneakers from globally-renowned brands, and at fairly affordable rates.
But should you consider buying sneakers from GOAT? Let’s find out.
What Is GOAT?
GOAT is an online platform that connects sneaker sellers with buyers worldwide. The company was founded in 2015 by Eddy Lu and Daishin Sugano, with a vision of restoring trust to the sneaker community.
In addition to sneakers, GOAT also offers luxury apparel and other fashion accessories. Its products are available both through primary and resale markets.
Company Overview
- Company Name: GOAT
- Industry: Fashion
- Sector: E-commerce Retail
Company Type: For Profit - Founders: Eddy Lu and Daishin Sugano
- Year Founded: 2015
- Availability: Worldwide
- Operating Status: Active
- Official Website: https://www.goat.com/
How Did GOAT Begin?
GOAT is the brainchild of two ambitious investors, Eddy Lu and Daishin Sugano. The company was established in July 2015.
In addition to founding GOAT, Eddy Lu and Daishin Sugano also serve in various high-ranking positions in the sneaker marketplace. Lu is the company’s Chief Executive Officer (CEO), whereas Sugano serves as the Chief Product Officer (CPO).
How Does GOAT Work?
GOAT is fundamentally a marketplace. In other words, the company doesn’t own the merchandise on its website. Neither does it keep real inventory. It simply offers a platform that links sellers with prospective buyers from all over the world. Sellers list their items on the GOAT platform while buyers peruse the listings.
As a marketplace, GOAT has continually partnered with numerous globally renowned sneaker and apparel brands. Examples include Versace, Bergdorf Goodman, Chloe, to mention but a few.
In the interest of quality assurance, GOAT implements a “ship-to-verify” business model where the company utilizes advanced technology like machine learning to verify the authenticity of sneakers before shipping them. This reduces the risks of counterfeits on the platform, giving buyers access to high-quality sneakers.
How Does GOAT Make Money?
GOAT generates revenue in the same way as any marketplace – by taking a percentage of every sale. This business model is simply known as the revenue split model.
It’s worth noting that GOAT’s fees only apply to sales made. The company doesn’t charge any listing or subscription fees.
Is GOAT Legit?
Goat is not only a legitimate sneaker marketplace. The platform is also ranked among the world’s most trusted websites for sneakers, apparel, and related accessories.
Now, buying counterfeits is usually the biggest risk when shopping for sneakers on the internet. Fortunately, GOAT understands this challenge and addresses it proactively by performing rigorous testing on all its products before shipping them. The combination of machine learning and in-hand verification ensures that the products sold on the platform are real, authentic, and as described in the listings.
Even better, GOAT notifies its buyers if it discovers that a product is unauthentic or not as not as described. The company then issues the buyer a full refund.
Is GOAT Available In My Country?
GOAT is a global sneaker marketplace with availability in over 170 countries. As of the time of writing, some 30 million members and over 600,000 sellers use the GOAT website.
Do I Need An Account To Use GOAT Services?
Sellers need an account to list their products on the GOAT platform.
Buyers can browse items on GOAT. But they also require an account to complete their purchase and unlock other features.
To sign up for a GOAT account, head to the company’s official website and start the account registration process.
Remember to enter accurate information as you may be required to verify your identity from time to time. Besides, GOAT reserves the right to suspend or even terminate your count if the information provided proves inaccurate.
What Does Selling On Goat Entail?
GOAT is committed to offering authentic, premium-quality products. To that end, the company only works with a carefully selected team of sellers.
To become a seller on GOAT, head to the company’s official website or download the GOAT app and then tap on the ‘Sell’ tab. You’ll need to fill out your seller information then submit your application for review.
If the application goes through, you’ll be required to adhere to the company’s seller policy. That includes not sharing or transferring your account, having only one GOAT account at a time, etc.
GOAT does not place sellers on any probation. That means you can begin selling as soon as you have an account on the platform. To list your items for sale on GOAT, proceed as follows;
i. Log in to your account.
ii. Tap on the ‘Sell’ tab.
iii. Search for the SKU, which is typically found inside the item or on the box.
iv. Describe your product’s condition.
v. Set a price.
vi. Upload relevant photos.
NOTE: Photos are a must if selling used or defective products. It speaks to your transparency and credibility as a seller.
Also, remember that GOAT may reject your product photos on certain grounds. Examples include poorly captured photos or photos displaying your personal information.
vii. If all looks good, submit the listing for review.
viii. Once the listing goes live, sit tight and wait for a buyer to come along.
If your item sells, you’ll be required to ship it to the buyer. You can do that by confirming the order and then tapping ‘Generate Label.’ GOAT will send you a prepaid and pre-addressed shipping label, which comes complete with a tracking number. You can then proceed to initiate shipping, bearing in mind that products must be shipped in the same condition in which they were originally listed.
There’s also the option of canceling your order. To do that, head to ‘Sell’ tab and proceed with the cancelation. However, note that canceling your orders multiple times could have you charged higher commission fees.
You’ll receive your earnings in your GOAT cash account as soon as the company’s specialists verify your product’s authenticity. You can cash out the amount as soon as it hits $25.
It’s also at the point of sale that GOAT levies commissions and seller fees.
Commission fees are 9.5% of the total sale amount for sellers with good standing on the platform, and as high as 15% for poorly rated sellers. Your ratings on GOAT depend on verification issues and the number of cancellations. On the other hand, seller fees vary considerably depending on your location as well as the address associated with your account. For instance, seller fees can be as low as $5 in the United States to as high as $30 in other countries.
Lastly, note that you may also incur some cash-out costs. The fees here depend on your preferred cash-out getaway. Presently, a 2.9% fee applies when cashing out via PayPal or ACH direct deposit.
What Does Buying Items On GOAT Entail?
Just like selling on GOAT, you’ll need an account to purchase anything on the platform. Once you have an account, browse the products you’re looking for from the featured items list. There’s also the option of searching for an item directly using the search function on GOAT’s website.
GOAT implements a robust Buyer Protection policy that ensures you get quality products all the time, and just as advertised. The policy applies in any of the following scenarios;
• Receiving inauthentic or defective products.
• Receiving an incorrect item.
• Receiving the correct item but one that doesn’t match the product’s description.
• Never receiving an item.
Also, just like sellers, buyers can cancel their orders on GOAT. However, you’ll need to do this within three hours of placing the order or before the seller confirms it – whichever comes earlier.
Buyers can also request a return provided that they submit the request within three days of receiving the item. To initiate a return, tap on the ‘Request Return’ button on GOAT’s website or app. The company will evaluate your request and determine whether you qualify for a refund.
Wrap Up
GOAT is a legitimate online marketplace that brings thousands of sneaker sellers and buyers under one roof.
The company stands out for its advanced machine learning technology, which helps to verify the authenticity of products before shipping them. Besides, GOAT was the first e-commerce platform to introduce augmented reality that allows shoppers to try on their sneakers before buying them.
Reasonable selling fees, favorable return policies, and buyer protection are other reasons to source your next pair of sneakers from the GOAT marketplace.
