Thredup's second-quarter revenue exceeded expectations, and the second-hand market should not be underestimated!

On Wednesday, Thredup, an American resale e-commerce company, released its second-quarter financial report. Total revenue in the second quarter reached $60 million, up 26.7% year-on-year. The number of active buyers and order volume increased by 8% and 22% year-on-year, setting a record high. Last year, its active buyers and sellers were 1.24 million and 428,000, respectively . As its second-hand fashion platform in the European market is becoming more and more popular with American consumers, this number will be refreshed again by the end of this year.

As the world's largest online resale platform for women's and children's clothing and accessories, ThredUp sells nearly 90% of the products sold by offline retailers. Its stock price rose by nearly 60% on its listing day in March this year (other second-hand e-commerce platforms also saw large stock price increases when they went public). A week ago, Thredup announced the acquisition of Remix for $285 billion, which was completed in the fourth quarter. After completion, Thredup's fourth-quarter financial report may show a greater increase.

Currently, there are three listed second-hand fashion e-commerce platforms in the United States. In addition to ThredUp, The RealReal and Postmark have been listed before.

The founder of Thredup once said that young American consumers tend to buy second-hand clothing to seek intrinsic meaning and value . Since the outbreak, the increase in sellers on second-hand fashion platforms, low prices, and continuously improving quality have attracted many consumers, causing Thredup's transaction volume to continue to rise. Thredup has also been trying new explorations, such as the customized "styling box" launched last month.

The emergence of second-hand fashion e-commerce platforms has broken the stereotypes and prejudices people had about second-hand goods. It has endowed second-hand fashion e-commerce platforms with more intrinsic value, such as environmental protection, savings, and freedom. Thredup's "down-to-earth" positioning has shortened the distance between it and consumers, while the other two companies that went public before mainly took the fashion route. Differentiated competition can be said to be one of the key factors for Thredup's success.

According to previous relevant US stock data, the resale market is expected to reach US$36 billion by 2024.

ThredUp

Second-hand market