The die is cast: starting this week, Walmart (WMT) will enter the resale market for second-hand products.
Thanks to a partnership with the ThredUp site dedicated to this area, the American retail giant will offer clothing, accessories, footwear and bags for women and children on its website.
The company itself has estimated the potential of this operation at around 32,000 million dollars, a novelty in its almost 60-year history.
Among the more than 750,000 items from some 2,000 brands, the insignia of Nike, Coach, Michael Kors, Outdoor Voices, Chanel and Madewell stand out, according to a report by Business Insider.
“We have an incredible assortment online,” wrote Denis Incandela, the company’s head of e-commerce fashion, in an official post. “The resale prices are exceptional and we are delighted to offer our customers the opportunity to reuse these garments.” .
Those who make a purchase over $ 35 through this website will have free shipping, as well as the option to return the product at no cost directly to Walmart or ThredUp stores.
According to Incandela, these are “exclusive benefits that have not been available to ThredUp customers before.”
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The used clothes seem to be, by the numbers that are handled, a too succulent business for a giant like Walmart to stay on the sidelines. (AP Photo / April L. Brown)
ThredUp is precisely responsible for the evaluation and selection of the articles that will appear on the Walmart portal. These include clothing and shoes deemed “new” or “like new” by ThredUp, as well as “carefully used” accessories and bags.
After a decade of becoming the world’s largest resale market, ThredUp is delighted to join forces with the world’s largest retailer to deliver a second-hand digital shopping experience to valued Walmart shoppers in across the country, ”said James Reinhart, CEO and co-founder of the company.
The second-hand clothing, shoes and accessories market has been booming in recent years, due in part to buyers’ strong appetite for deals and concerns about the fashion industry’s impact on the environment, according to the publication in Business Insider points out.
The resale market is expected to increase from $ 32 billion this year to $ 51 billion by 2023, according to research by ThredUp and GlobalData Retail.
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