The digital equivalent of rummaging through clothing racks may soon become a relic as ThredUp rolls out artificial intelligence to transform the happily chaotic world of thrifting into a precision-targeted retail experience. The technology promises to match millions of unique items with potential buyers by...
Amid revenue declines, ThredUp is not anticipating the financial pressure that consumers are feeling let up any time soon. The online consignment and thrift store shared in its second-quarter 2024 earnings results Monday (Aug. 5) that it saw a 4% decline in total revenue year...
Online fashion resale platform ThredUp introduced a suite of artificial intelligence-driven shopping tools. The new offerings include an improved search function, an enhanced image search, and the company’s new AI-powered chatbot, according to a Monday (Aug. 5) press release. “AI presents an enormous leap forward...
While more people are embracing the idea of buying and selling secondhand clothing, companies specializing in selling these items are reportedly facing challenges in turning a profit. The U.S. secondhand apparel market was valued at approximately $43 billion in 2023, The Wall Street Journal (WSJ)...
March 06, 2024
As consumers’ budgetary pressures prompt them to seek lower-priced options, many digital resale platforms are seeing growth, but eCommerce has a long way to go when it comes to driving penetration in secondhand retail. Discussing the opportunity that the category presents, Depop owner Etsy shared on its most recent earnings call that as the resale marketplace’s performance has improved, there is […]
November 23, 2023
As inflation takes its toll on consumer spending, luxury consignment stores are grappling with the effects, witnessing a notable increase in the challenges associated with high-end fashion. The RealReal is...
March 30, 2023
What was once old is new again (and again) as brands and consumers fully embrace the potential of preowned. The resale trend has been steadily growing for years, with preconceived...
January 16, 2023
Some clothing firms are mulling creative resale partnerships as economic concerns continue to plague the sector. Slumping sales have clothing merchants, from Big Retail to Main Street, scrambling to make...
November 12, 2024
Clothing reseller ThredUp has chosen Amazon’s ex-luxury resale head as its new social commerce director. Danielle Vermeer will take on the newly-created role of head of social commerce beginning in January of next year, ThredUp said Tuesday (Nov. 11). “We are always building and innovating beyond our core business to make thrifting easier and more […]
August 05, 2024
Online fashion resale platform ThredUp introduced a suite of artificial intelligence-driven shopping tools. The new offerings include an improved search function, an enhanced image search, and the company’s new AI-powered...
July 03, 2024
While more people are embracing the idea of buying and selling secondhand clothing, companies specializing in selling these items are reportedly facing challenges in turning a profit. The U.S. secondhand...
May 03, 2024
Online marketplaces are reportedly deploying artificial intelligence (AI) to deliver a personal shopper-like experience to their visitors. EBay, Etsy and ThredUp are among the online marketplaces now leveraging AI technology to enhance the shopping experience...
