WALMART JOINS ‘UKAY-UKAY’ INDUSTRY
Walmart is now selling used goods from Nike, Coach, Michael Kors and more as it dives into the $32 billion resale market after sealing a partnership with ThredUp, which specializes in "new" and "like new" clothing and shoes.
In a story written by Hayley Peterson of Business Insider on May 27, 2020, Walmart will sell used clothing, accessories, and shoes on its website, with shoppers getting 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. 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.
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."