Walmart is now selling used goods from Nike, Coach, Michael Kors and more as it dives into the $32 billion resale market, Business Insider - Business Insider Singapore
by Hayley Peterson, Business Insider US- Walmart will for the first time sell used clothing, accessories, and shoes on its website through a partnership with the resale site ThredUp.
- Shoppers will get access to free shipping on purchases costing more than $35, as well as free returns to Walmart stores and ThredUp.
- The resale market is expected to reach $51 billion by 2023.
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Walmart is diving into the $32 billion resale market through a partnership with the second-hand-sales site ThredUp.
Starting Wednesday, Walmart will sell used clothing, accessories, footwear, and handbags for women and children on its website.
The site will offer more than 750,000 items across 2,000 brands such as Nike, Coach, Michael Kors, Outdoor Voices, Chanel, and Madewell.
“It’s an incredible online assortment, the resale prices are outstanding, and we are thrilled to offer our Walmart customers the opportunity to reuse garments,” Denis Incandela, head of fashion for Walmart ecommerce, wrote in a blog post.
Shoppers who order through the site will get access to Walmart’s free shipping on orders costing more than $35, as well as free returns to Walmart stores or ThredUp. These are “exclusive perks that have not been available to ThredUp customers before,” Incandela said.
ThredUp is responsible for evaluating and selecting the items offered for sale on Walmart’s site. The items include clothing and shoes deemed “new” or “like new” by ThredUp and “gently used” accessories and handbags.
ThredUp CEO and cofounder James Reinhart said, “After spending the past decade becoming the world’s largest resale marketplace, we are thrilled to join forces with the world’s largest retailer to deliver a digital secondhand shopping experience to Walmart’s troves of shoppers nationwide.”
The market for second-hand clothing, shoes, and accessories has been booming in recent years due in part to shoppers’ strong appetite for deals and their concerns about the fashion industry’s impact on the environment.
Overall, the resale market is expected to expand from $32 billion this year to $51 billion by 2023, according to research from ThredUp and GlobalData Retail.