Trove’s Post

The secondhand market is hot! ️🔥 In 2023, the U.S. secondhand apparel market grew 7 times faster than the broader retail clothing market. Reselling pre-loved clothing is more accessible than ever, whether you're an individual or a large organization. But with so many sellers on platforms like eBay and Poshmark, how do you stand out in this crowded space? Understanding the top e-commerce brands that sell, best practices for warehouse audits, and the speed of listing items online all play a key role in your organization’s success. At Upright Labs, we have the industry expertise and cutting-edge technology to give you an advantage in this rapidly growing market. Curious about how your organization could improve its workflow? Let’s connect! https://lnkd.in/erANnM-n #thredup #warehouseaudits #secondhandmarket #ecommerce #secondhand #clothingresale

"By Jinjoo Lee July 3, 2024 7:00 am ET Closets are full of unworn clothes ready for purging, #thrifting is in vogue, and everybody’s looking for a good deal these days. It all sounds like a golden business opportunity—if anyone can figure it out. Americans on average throw away some 70 pounds of clothes a year, and thrifting is becoming more popular by the day—particularly among younger consumers. The U.S. secondhand apparel market was worth about $43 billion last year, according to an annual market report from the online apparel reseller ThredUp TDUP 3.77%increase; green up pointing triangle. It estimates that the market could grow about 11% a year on average through 2028. The market is fragmented, with about 74% of thrift stores being independently run, according to a report from Piper Sandler. Companies specializing in thrift, though, are struggling to stitch together a compelling investment case. Shares of the online seller ThredUp and the bricks-and-mortar thrift-store chain Savers | Value Village SVV -0.65%decrease; red down pointing triangle  are each down around 29% year to date. The luxury online resale platform The RealReal has fared better, but in large part thanks to a debt exchange it announced in late February to address liquidity concerns. ThredUp and RealReal are both down significantly from their peaks a few years back.   This could simply be air coming out of highly inflated expectations. ThredUp and the RealReal made their debuts with much fanfare in 2021 and 2019, respectively. Savers listed last year with a lofty valuation. But sales growth for all three companies has slowed, and they are all growing slower than the overall market. Nonprofits such as Goodwill NCW control a sizable portion of the secondhand market, with a steady supply of donations, and eBay dominates the resale market online. ThredUp and RealReal’s bet is that consignors and buyers would be willing to pay a premium for a more convenient selling and buying experience. Sellers need only mail in or drop off their goods, and the platforms do the work of photographing, pricing and tagging each item by size, brand, color and condition so that items are easily searchable. For RealReal, there is an extra human step of making sure the products aren’t fakes. A single-item distribution system is difficult to recreate and is therefore a powerful moat, says Dylan Carden, an equity analyst at William Blair, referring to ThredUp..."

Back in 2022, our team conducted an in-depth analysis of 212,000 clothing items posted to ShopGoodwill.com 📊 Turns out, 80% of revenue generated comes from under half of the clothing brands! Meaning 48% of brands make up 80% of the revenue. 📈 💰 When America’s Thrift Store partnered with Upright Labs to launch their e-commerce, they generated $175,000 USD in just 50 days. Even if you’re not a thrift store, here’s why you should consider reselling online: 🌍 It's Better for the Environment 💡 Low Investment with High Reward 📈 Simple to Scale Read the blog here: https://lnkd.in/e6ZRGmu6 #Secondhand #Sustainability #CircularEconomy

The Wall Street Journal, Your Old Clothes Are Worth Billions! Sales of luxury goods have slowed in recent years, after pent-up demand coming out of the Covid-19 pandemic fueled a spending spree. Inflation has taken a toll as well, particularly among aspirational buyers who have less ability to stretch their budgets. Bain & Co. estimates that luxury spending in the Americas fell 8% in 2023 compared with 2022, even as sales grew in Asia and Europe. The U.S. secondhand apparel market was worth about $43 billion last year, according to an annual market report from the online apparel reseller ThredUp  Secondhand apparel retail is a booming business, but turning a profit is harder than it sounds. Closets are full of unworn clothes ready for purging, thrifting is in vogue, and everybody’s looking for a good deal these days. It all sounds like a golden business opportunity—if anyone can figure it out. Americans on average throw away some 70 pounds of clothes a year, and thrifting is becoming more popular by the day—particularly among younger consumers. The U.S. secondhand apparel market was worth about $43 billion last year, according to an annual market report from the online apparel reseller ThredUp TDUP -2.45%decrease; red down pointing triangle . It estimates that the market could grow about 11% a year on average through 2028. The market is fragmented, with about 74% of thrift stores being independently run, according to a report from Piper Sandler. Companies specializing in thrift, though, are struggling to stitch together a compelling investment case. Shares of the online seller ThredUp and the bricks-and-mortar thrift-store chain Savers Value Village SVV 1.90%increase; green up pointing triangle are each down around 29% year to date. The luxury online resale platform RealReal has fared better, but in large part thanks to a debt exchange it announced in late February to address liquidity concerns. ThredUp and RealReal are both down significantly from their peaks a few years back.   By Jinjoo Lee #vintageclothes #luxury #retail #designer #innovation

Discover how integrating hard and soft goods can elevate your brand and customer experience. Dive into our latest blog where we unveil the secrets of leveraging Brikl's MicroStores for a diverse and dynamic product range. ➡️ https://bit.ly/40Ropfc And if you want more expert insights, don’t miss our webinar with Vantage Apparel! 🗓️ November 29, 2023 | 🕙 10:00 EST Sign up now! 👉 https://bit.ly/3MVsWY8 #PromotionalProducts #Brikl #BusinessGrowth #MarketingStrategy

Today's The Robin Report - facts with insights, opinions and real thinking "why does it matter" The #retailresalemarket ?Rapid Growth, No Profits? ThredUp figures the global secondhand apparel market will grow at a compound annual growth rate (CAGR) of 12 percent through 2028 to reach $380 billion. And in the U.S., it sees online resale more than doubling over the next five years to reach $40 billion. #resale #ecommerce #fashionmarketing #retailops #RaaS Pamela Danziger Read & Subscribe 👇 https://lnkd.in/gTVt_JhU

Retailers face unprecedented pressure to grow while reducing carbon emissions and that’s where branded resale really shines. Trove Recommerce partners with top brands like Carhartt, Brooks Running, Filson, and Cotopaxi, to transform apparel returns and pre-loved trade-ins into revenue while supporting sustainability efforts. Branded resale offers numerous benefits: 1️⃣ Transform fashion returns into profitable, sustainable inventory 2️⃣ Combat supply chain shortages with untapped inventory 3️⃣ Cater to shoppers demanding sustainable options 4️⃣ Drive more value out of products through a circular ecosystem 5️⃣ Provide immediate ROI despite economic uncertainty Invest in the future of retail with branded resale and join the likes of globally beloved brands in maximizing value and sustainability. #TroveRecommerce #BrandedResale #SustainableRetail

Scaling up your men’s clothing business was never so easy. With your own online e-commerce shop, you can tap into a whole new market and increase your customer reach. How? ePrimeShop has come up with a distinctive online avenue that allows you to create your menswear e-store your own way. Yes! Choose from the collection of professional and trendy templates to suit your business, Upload your product details easily. Creating your online shop is like a piece of cake now. And the best part is – you don’t have to spend heavily on this. You get your store access in INR. 4999/- Per Year only. So, grab this wonderful opportunity and let your business take a digital flight. #eprimeshop #ecommerce #readywebsites #dyiwebsite #onlineshop #cmswebsite #affordablewebsite #lowcostwebsite #websitetemplates #digitalshop #businesswebsite #productwebsite #smallbusiness #buildyourownwebsite #createyourownwebsite #onlinestore #websitethemes #digitalstore #menswear #mensstoreonline #mensclothingonline #onlinemenswear

Scaling up your men’s clothing business was never so easy. With your own online e-commerce shop, you can tap into a whole new market and increase your customer reach. How? ePrimeShop has come up with a distinctive online avenue that allows you to create your menswear e-store your own way. Yes! Choose from the collection of professional and trendy templates to suit your business, Upload your product details easily. Creating your online shop is like a piece of cake now. And the best part is – you don’t have to spend heavily on this. You get your store access in INR. 4999/- Per Year only. So, grab this wonderful opportunity and let your business take a digital flight. #eprimeshop #ecommerce #readywebsites #dyiwebsite #onlineshop #cmswebsite #affordablewebsite #lowcostwebsite #websitetemplates #digitalshop #businesswebsite #productwebsite #smallbusiness #buildyourownwebsite #createyourownwebsite #onlinestore #websitethemes #digitalstore #menswear #mensstoreonline #mensclothingonline #onlinemenswear

Scaling up your men’s clothing business was never so easy. With your own online e-commerce shop, you can tap into a whole new market and increase your customer reach. How? ePrimeShop has come up with a distinctive online avenue that allows you to create your menswear e-store your own way. Yes! Choose from the collection of professional and trendy templates to suit your business, Upload your product details easily. Creating your online shop is like a piece of cake now. And the best part is – you don’t have to spend heavily on this. You get your store access in INR. 4999/- Per Year only. So, grab this wonderful opportunity and let your business take a digital flight. #eprimeshop #ecommerce #readywebsites #dyiwebsite #onlineshop #cmswebsite #affordablewebsite #lowcostwebsite #websitetemplates #digitalshop #businesswebsite #productwebsite #smallbusiness #buildyourownwebsite #createyourownwebsite #onlinestore #websitethemes #digitalstore #menswear #mensstoreonline #mensclothingonline #onlinemenswear