Walmart Enters the Resale Market
The world’s largest retailer, Walmart, is making its first foray into the resale market.
Through an online partnership with resale platform thredUP, Walmart shoppers can now find around 750,000 pre-owned items at www.walmart.com/thredup. Walmart will dip its toes into the resale market starting with women’s and children’s clothing, accessories, footwear and handbags.
The launch comes at a time when consumers the coronavirus pandemic has caused consumers to be more budget conscious. Personal spending in the U.S. has massively dropped by 7.5% on a monthly basis, according to Finbold. Data compiled by Finbold reveals that compared to February 2020, U.S. personal spending in March has seen the worst performance since 1959, the largest decline on record.
Walmart isn’t the first national retailer to partner with thredUP in order to enter the resale market. Gap partnered with the company in February and had planned to bring thredUP Clean Out bags to participating stores in April for shoppers to send in unwanted items for consignment, before the pandemic. Macy’s, J.C. Penney and J.Crew’s Madewell brand have also all forged partnerships with ThredUp.
Walmart said the resale items offered have been “carefully evaluated and selected” by thredUP for sale and only pre-owned garments and shoes deemed “new” or “like new” by thredUP are available on Walmart.com. “Gently used” accessories and handbags are also available.
Shoppers will get free shipping on orders of $35 or more and free returns to Walmart stores or thredUP, something that hasn’t been available to thredUP customers before.
“We know that customers, especially millennials, are interested in shopping resale clothing,” said Denise Incandela, head of Fashion, Walmart U.S. eCommerce. “This partnership is our latest move to establish Walmart.com as a destination for fashion and offer customers the pre-owned items they might be looking for.”
“We are excited to join forces with Walmart to power a sustainable, secondhand shopping experience unlike any other,” said Jenn Volk, director of Product Management, thredUP. “From Calvin Klein and Nike to Coach and Michael Kors, this digital partnership enhances Walmart’s fashion offering with fresh brands at amazing prices that their customers will love.”