The Resale Edit: Decoding ThredUp and eBay's Moves to Uncover the Future of Resale

May 3, 2023 · 5m 6s

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ThredUp and eBay in the News: Decoding Their Moves to Uncover the Future of Resale This Weeks Key Takeaways: - Embrace in-house resale channels: While brands can learn from resale...

ThredUp and eBay in the News: Decoding Their Moves to Uncover the Future of Resale
This Weeks Key Takeaways:

Embrace in-house resale channels: While brands can learn from resale marketplaces, it's essential to bring resale in-house as it becomes a more significant portion of sales
Leverage strategic partnerships with marketplaces: As platforms like eBay continue to grow their partnerships with brands, every brand must incorporate the potential benefits of these marketplaces as a strategic component of their resale strategy

The addition of Toms and The Container Store to ThredUp's RaaS partners underscores the growing significance of the resale market. As resale becomes an increasingly important part of revenue and customer engagement, brands must recognize the value of entering the resale market through RaaS programs and anticipate the need to own their resale channels to stay close to their customers.Although partnerships with marketplaces offer brands an easy entry point into the resale market, they must look beyond these collaborations in the long run. As resale becomes a more meaningful part of revenue, brands must develop their channels to maintain customer loyalty and stay competitive.Brands can initially work with marketplaces or establish independent resale channels through service providers. Regardless of their choice, brands must plan for the future and build strong connections with their customers through owned resale channels.eBay's introduction of new services like the Authenticity Guarantee for streetwear and Certified by Brand for watches, handbags, and fine jewelry demonstrates the platform's recognition of the growing resale market. By offering trust and transparency to buyers, eBay is raising the bar in the resale experience.As the resale market evolves, platforms like eBay must adapt and offer innovative solutions catering to customers' trust and quality demands. eBay's moves to be closer to brands create an opportunity for brands to strategically collaborate with marketplaces like eBay, making the most of these partnerships.The resale market is expanding, with Sam Edelman partnering with Archive and designer Altuzarra collaborating with Reflaunt. As more brands enter the resale arena, customer expectations will rise, and resale will account for an ever-growing share of the retail landscape. Brands must treat resale as a vital channel, as Sam Edelman and Altuzarra do.The future of retail is here, and brands must adapt to the resale market's rising importance by owning their channels and collaborating strategically with platforms like eBay.

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