With over 100 million items sold, ThredUP North America has opened up a new track for the second-hand market!

After the successful listing of second-hand e-commerce platforms RealReal and Poshmask, the second-hand e-commerce market in North America has become increasingly hot. There is now a wave of second-hand trend in North America . The epidemic has made consumers frugal, and second-hand trading platforms can enable consumers to obtain new goods while protecting the environment. The popularity is no less than that of the domestic "Xianyu" software .

Recently, ThredUP , a second-hand fashion e-commerce platform , submitted an application for listing and opened investment to global sellers.

ThredUP was founded in San Francisco, USA in 2009. The platform mainly sells second-hand fashion, clothing, accessories and other products. The person in charge said: Fashion products are the most wasted and discarded category. Through the platform's trading of second-hand fashion products, we can fight against waste and benefit the environment and the earth's ecology.

Especially since the epidemic, consumers' enthusiasm for environmental protection has been rekindled, which coincides with ThredUP's main concept.

Although both are second-hand e-commerce platforms, ThredUp and Poshmark have different business models . Poshmark allows sellers to sell products through its platform and collect commissions from them . ThredUp, on the other hand, has a sales and consignment model, where consumers can purchase goods from sellers or provide consignment services to users , and the identities of sellers and buyers can be switched at any time.

Currently, ThredUp adopts more of a consignment model.

In addition, ThredUp will proactively provide buyers with fashionable outfits, allowing consumers to match fashion trends with second-hand clothing. This concept is deeply rooted in the consumer psychology of buyers , making the platform more attractive.

ThredUP is currently in the process of preparing for listing, so the platform offers many discounts to sellers who are interested in joining. Sellers who join now can also get a discount of up to 50% off the first order .

It is reported that since its establishment in 2009, ThredUp has sold up to 100 categories, 35,000 brands, and more than 100 million second-hand goods. As of the end of December 2020, the platform had 1.24 million active buyers and 428,000 active sellers . Compared with December 2019, the number of buyers increased by 24% and the number of sellers decreased by 4%.

ThredUP said it will issue $100 million worth of shares before its listing , mainly for daily operations and developing future strategies .

Data from GlobalData Market Survey estimates that the second-hand market will grow from US$7 billion in 2019 to US$36 billion by 2024.

According to the ThredUP 2020 Digital Report, online resale will grow 69% between 2019 and 2021. In 2019, 40% of resale shoppers were Gen Z, the largest demographic in the shopping category.

The platform offers merchandise at all price points, from thousands of brands. Sellers can send items to ThredUP using one of the site’s “cleaning kits,” and the company will prepare them for sale.

In 2018, the company expanded its marketplace to brands and retailers. ThredUP ’s proprietary operating system can handle up to 100,000 items per day , and the company has created a real-time database to categorize and value items.

ThredUp also said that the platform has developed a feature that can select the best photos to attract buyers to participate . This feature can maximize the opportunity for sellers to attract traffic.

North America

Second-hand e-commerce platform

ThredUp