Resale platforms Trove and ThredUp added to their rosters this week amid exploding sales in used goods. Canada Goose has partnered with Trove for “Canada Goose Generations,” launching Tuesday in the U.S. and in Canada later this year, according to a company press release.
Customers can trade in Canada Goose items, which are then “assessed and authenticated,” and receive a Canada Goose gift card, good at stores and online, if they are accepted. Vintage, preowned and refurbished goods are for sale via the Generations tab on the 65-year-old Canadian outerwear brand’s website.
Mall-based apparel store Francesca’s is the latest retailer to partner with ThredUp for its resale program, “Forever Francesca’s,” also announced Tuesday. Sellers can trade items for shopping credit usable at stores and online, and, for a limited time, will get an extra 15% for them, according to a company press release.
Selling secondhand goods is quickly evolving into a requirement for any retailer interested in tapping into consumers’ intense — and growing — interest in them. Shoppers see the option as helping the environment, getting a good deal or both.
The market could reach $82 billion within three years, according to research from ThredUp and GlobalData. And the appeal is true not just for apparel but also electronics, furniture and sporting goods, according to a recent report from WD Partners. Retailers and brands from budget to luxury are increasingly moving to take part.
If the resale market is a dream, the logistics involved are something of a nightmare, however, according to Lee Peterson, executive vice president of thought leadership and marketing. So far, the acquisition, inventory management and sale of secondhand items are most efficiently and profitably conducted in stores, he recently told an audience of the National Retail Federation’s annual conference.
Still, most major chains and brands are keeping their resale programs online, operated with the help of third parties like ThredUp and Trove. Wells Fargo analysts see the resale-as-a-service side of ThredUp’s business as potentially more lucrative than its own retail operation, with retailers from J. Crew to Target, and now Francesca’s turning to the company.
“Francesca’s customer demographic is the perfect candidate for resale, as Gen Z and Millennials are the ones largely powering resale’s growth,” ThredUp CEO James Reinhart said in a statement.
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