![]() ![]() This unlocks incremental value for Madewell from its own goods beyond the initial purchase. Source: Īs an example of collaboration, Madewell, a brand popular among millennials and Gen Z, purchases its own brand’s jeans being resold on ThredUP and refurbishes them to sell in its stores. It creates incremental value for sellers when the brand partner offers a bonus (an additional 15%-20% on top of what ThredUP pays). ![]() Through the loyalty program, sellers to receive payment in the form of a credit to spend with a brand partner (such as Reformation, a sustainable clothing brand) creating value for the brand partner in the form of customer acquisition and retention and drives brand loyalty. ThredUP wants to “make the shopping experience indistinguishable from what it’s like to shop for new things.” Through both the site and app, buyers can set preferences, filter and save searches and “favorites,” and receive recommendations based on history.Ī most innovative feature of ThredUP is its recent “Resale-As-A-Service” (RaaS) platform that allows brands and retailers to plug into the marketplace through a loyalty program, online collaboration, and in-store pop-ups. Personalized shopping experience comparable to shopping for new items.With strict quality standards and a 12-point quality check system, buyers can trust that the condition of the items are as described. Reduced risk by ensuring quality and 100% authenticity.Savings of up to 90% off retail prices.ThredUP carries 35,000 brands across multiple tiers and offers up to 40,000 new items daily. Largest online assortment of secondhand clothing.Pathways to a Just Digital Future Watch this tech inequality series featuring scholars, practitioners, & activists ThredUP creates value for buyers through: Sellers may choose to receive cash, credit, or, instead of receiving a payout, opt for ThredUP to donate $5 per bag to a charity of the seller’s choice. ThredUP’s payout calculator allows sellers to estimate the payout on their clothes. The seller still controls the item’s listing price. ![]() It leverages computer vision and AI to instantly determine resale value, factoring in estimated retail price, fair market value, age, quality, style, level of similar inventory already available, and features a dynamic pricing model that accounts for seasonality and high demand.
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