JCPenney and Macy’s enter resale market with ThredUp partnerships
Major US department store chains JCPenney and Macy’s have both announced they will debut selling used apparel through partnerships with San Francisco-based fashion resale company ThredUp.
JCPenney said on Friday that 30 of its stores will start offering a seasonal array of resale handbags and women’s fashion from the secondhand apparel company, with the assortment uniquely branded in a 500 to 1,000-square-foot presentation. To keep things fresh, the department store chain said it will be switching up the curated assortment of ThredUp items on a weekly basis.
“With the rise of online resale markets, there’s no doubt that demand for great value on quality brands is at an all-time high. There’s an emotional thrill that comes with finding one-of-a-kind secondhand product for much less,” Michelle Wlazlo, executive vice president and chief merchant for JCPenney, said in a statement.
“While there are more secondhand shoppers than ever before, we’ll continue to test and evaluate how this resonates with customers. We’re excited about the prospect of creating a new in-store experience that makes high-end brands attainable, as well as catering to eco-minded consumers who want more sustainable options in their wardrobe.”
Resale market continues to attract big fashion names
JCPenney is following in the footsteps of Macy’s, who earlier this week announced it had been trialling resale services in 40 of its stores across the US through a ThredUp partnership. The company said the move would allow it to “reach Millennials and Gen Z who are passionate about sustainable fashion and shopping resale.”
Macy’s CEO Jeff Gennette said during the company’s second-quarter conference call: “We know many consumers are passionate about sustainable fashion and shopping resale. This partnership gives us the opportunity to reach a new customer and keep them coming back to shop and ever-changing selection of styles and brands that we don't typically carry.”
According to ThredUp’s annual Resale Report, the resale fashion market has grown 21 times faster than the retail fashion market over the past three years and is projected to grow from 24 billion US dollars to 51 billion US dollars in the next five years.
Photo credit: ThredUp, Facebook