SAN FRANCISCO--(BUSINESS WIRE)--thredUP.com, the leading online shop to buy and sell like-new women’s and kids’ clothing, has published its Third Annual Resale Report to offer industry professionals an in-depth look at the market and to empower consumers to update their wardrobes in a smarter way. At a time of year when Americans have spring cleaning and wardrobe updating on their minds, thredUP’s Report provides valuable insights into which brands and styles earn the most when sold and offer the greatest savings when purchased secondhand.
“As the first player in the online apparel resale space, we’ve sold over 25,000 brands and processed over eight million items, making thredUP uniquely qualified to report on industry trends,” said James Reinhart, CEO and co-founder of thredUP. “I look forward to this Report each year because it brings to life the impact we’re making on people’s lives, the environment, and reminds me why our mission is to inspire a new generation of consumers to think secondhand first.”
While earning and saving money can be primary motivators when it comes to online resale, research shows that more Americans are now considering the environmental impact of their purchases, along with a desire to declutter their homes. Simplifying their lives, doing more with less, and prioritizing experiences over acquiring new stuff is a huge societal shift in thinking that is impacting consumerism as a whole.
“With fashion resale, people can consider shopping more of a cycle, rather than permanent ownership. We want everyone to be able to enjoy that refreshed feeling you get from maintaining an organized closet without having to leave their house to get rid of clothes,” said Reinhart.
Highlights from the Report
Impact and Industry Insights
Online fashion resale is going mainstream, thanks to venture capitalists investing nearly $300 million to date. The funding is accelerating annually, with $100 million invested in 2014 (up from $40 million in 2013) and $70 million already invested this year.
In 2014, people earned $4.5 million selling their clothing to thredUP compared to $3.2 million earned in 2013 and $800,000 in 2012. Savvy shoppers collectively saved $62.5 million shopping on thredUP last year, three times the savings recorded in 2013.
With nearly four million items processed in 2014, the thredUP community saved 31 million pounds of C02 and 2.7 billion gallons of water, two natural resources required for new garment manufacturing.
The Nation’s (Life)Style Innovators
Some communities have incorporated online consignment into their lives much faster than others, and are role models for a greener future.
Five cities with the fastest growth shopping secondhand online: Richmond, VA; Columbia, SC; Hayward, CA; Tampa, FL; Manchester, NH
Five cities with the fastest growth selling their clothes online: Washington, DC; Hoboken, NJ; Arlington, VA; Indianapolis, IN; Nashville, TN
Resale Brand Winner Highlights
Best Brands to Buy
Women’s Designer: Michael Kors, Nanette Lepore, Tibi, Diane von Furstenburg, Alice + Olivia
Handbags: Marc Jacobs, Banana Republic, Kooba, Dooney & Bourke, Coach
Kids’: Brooks Brothers, Hartstrings, Oilily, Ralph Lauren, Petit Bateau
Best Brands to Sell
Women’s: Rebecca Minkoff, Kate Spade New York, Tory Burch, Marc Jacobs, rag & bone
Kids’: UGG Australia, Minnetonka, The North Face, Crewcuts, Patagonia
Women’s: lululemon athletica, TOMS, Dooney & Bourke, UGG Australia, Anthropologie
Kids’: The North Face, Matilda Jane, Under Armour, Mini Boden, TOMS
Your Savings from Shopping Fashion Resale
The average consumer spends about $1,700 a year on apparel. If you buy and sell your clothes using online fashion resale you will spend under $1,000, and stylish designer labels become well within reach.
thredUP’s Third Annual Resale Report was compiled based on internal re-commerce data from January 1 through December 31, 2014. Visit thredUP.com/resalereport for the full Report and methodology, and find last year’s Report at thredUP.com/resalereport/2014.
thredUP is the leading online shop to buy and sell like-new women’s and kids’ clothing, and was founded in Boston by James Reinhart, Chris Homer and Oliver Lubin in 2009. The company publishes the Annual Resale Report, and pioneered the Clean Out Bag, the most convenient way for consumers to sell clothes they’re no longer wearing. Now headquartered in downtown San Francisco, and backed by world-class investors, thredUP is disrupting the $30B secondhand clothing industry and inspiring a new generation of consumers to think secondhand first.