On May 27, 2020, Walmart (NYSE: WMT) announced that it has partnered up with ThredUp to offer pre-owned clothing, footwear, handbags, and fashion accessories. This partnership would be completely online as of now with the two brands offering up to 750,000 items. These items are now available on www.walmart.com/thredup. These items are available at prices starting from $15 up to $ 60.
ThredUp is the world’s largest online secondhand shopping destination with thousands of like-new styles from well-known brands at up to 90% off estimated retail. They offer 100% authentic and in good shape items.
Denise Incandela, Head of Fashion, Walmart U.S. eCommerce stated in a news release that,“ Over the last few years, we’ve focused on expanding our assortment of quality, on-trend, accessible fashion to help customers outfit themselves no matter their personal style or budget. In fact, we’ve added nearly 1,000 brands to our online assortment, including national brands like Champion, Jordache, and Levi Strauss. We also offer private label brands Time and Tru, Terra & Sky, Wonder Nation and George, and customers love our exclusive, elevated brands like Scoop, Sofia Jeans by Sofia Vergara, and EV1 by Ellen DeGeneres.”
He further stated that this online partnership would bring even more fantastic brands to their website at mass-market prices.
The fashion industry has already seen a change in shopping habits of millennials, with them making more environmentally conscious choices. The millennials prefer to purchase preowned clothing and accessories from thrift shops and consignment stores, since the rise in sustainable fashion movements. Customers, especially millennials, are interested in shopping resale clothing. In fact, according to thredUP’s upcoming 2020 Annual Resale Report, 70% of consumers have bought or are now willing to buy secondhand.
“This partnership is our latest move to establish Walmart.com as a destination for fashion and offer customers the pre-owned items they might be looking for. We think they’ll be surprised and delighted by what they find, and we’re excited to inspire customers to look and feel their best,” said Denise.
It’s a vast online assortment. Items have been carefully evaluated and selected by thredUP for sale based on their overall quality and condition. Only pre-owned garments and shoes deemed “new” or “like new” by thredUP are available on Walmart.com. “Gently used” accessories and handbags are also available.
On top of it, customers will have the added benefit of Walmart’s free shipping threshold on orders of $35 or more and free returns to Walmart stores or thredUP – exclusive perks that have not been available to thredUP customers before.
“We are excited to join forces with Walmart to power a sustainable, secondhand shopping experience unlike any other. From Calvin Klein and Nike to Coach and Michael Kors, this digital partnership enhances Walmart’s fashion offering with fresh brands at amazing prices that their customers will love,” said Jenn Volk, Director of Product Management, thredUP.
We know that customers, especially millennials, are interested in shopping resale clothing. In fact, according to thredUP’s upcoming 2020 Annual Resale Report, 70% of consumers have bought or are now willing to buy secondhand. This partnership is our latest move to establish Walmart.com as a destination for fashion and offer customers the pre-owned items they might be looking for. We think they’ll be surprised and delighted by what they find, and we’re excited to inspire customers to look and feel their best.
Walmart has seen a rise in its online sales, a growth of 74% as shoppers turned to its website and app to buy groceries, cleaning products, hair color and more to help them during long stays at home, during the pandemic.
Even before the pandemic, Walmart has looked for ways to turn the customers toward general merchandise on its website. By selling more higher-margin items like clothing, Walmart can help drive up the profitability of its e-commerce business, which has not yet turned a profit.