Sustainability is a priority around the world, with the covid pandemic creating even greater interest and need. Disruptions to supply chains, the inability to shop in person and the unavailability of products have increased the importance for businesses and individuals to adopt a sustainability mindset.
Nowhere is this more evident than in the massive growth of resale activity in the retail space. According to industry expert Carol Spieckerman, President of Spieckerman Retail, “Retailers and brands are making much more aggressive, long-term, concrete commitments to sustainability. ‘integrate new generations of sustainability-conscious buyers.
thredUP is leading the online resale industry and helping the latest wave of retail partnerships to sell items at discounted prices. The company has built a unique platform for individuals to buy and sell gently used clothing and accessories.
In a recent interview, Pooja Sethi, Senior Vice President and General Manager of Resale-as-a-Service® provider, said, “Five years ago, brands and retailers wouldn’t even answer the call of thredUP “. (eMarketer). She went on to note that since joining thredUP in 2021, “the conversation has gone from why I should get into reselling to how.”
This can be seen by the company’s recent partnership with Target, which adds to its growing list of brands including Gap, Walmart, Rent the Runway, eBay and Crocs. Increasing sustainability efforts is particularly important for clothing brands as fashion is responsible for 4% of greenhouse gas emissions while the EPA (Environmental Protection Agency) estimates that Americans alone create 16 million tonnes of textile waste per year.
Spieckerman highlights the role thredUP can play in helping retailers and brands successfully join the resale space. “In the resale platform industry, it’s really thredUP and everyone else.” thredUP’s experience gives them expert status. “They know how to price goods. They know how to effectively deal with a single item, used clothing. »
Whichever direction a retailer or brand decides to go, it’s clear that sustainability must be at the top of a company’s priority list if it is to remain relevant and profitable in the future.