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Share Name | Share Symbol | Market | Type |
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ThredUp Inc | NASDAQ:TDUP | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.11 | 6.55% | 1.79 | 1.75 | 1.79 | 1.80 | 1.70 | 1.71 | 370,177 | 23:26:20 |
OAKLAND, Calif., Nov. 16, 2021 /PRNewswire/ -- thredUP (NASDAQ: TDUP), one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories, today released a 'Thrift for the Holidays' Report conducted by third-party retail analytics firm GlobalData. The report, based on a survey of 2,000 U.S. consumers, demonstrates more consumers are turning to thrift as inflation and supply chain pressures weigh on shoppers in advance of Black Friday, and the stigma around secondhand gifts continues to dissipate.
"In a world where retailers have been forced to raise prices due to inflation or supply-chain pressures, consumers can always find a vast and ever-fresh selection of secondhand items on thredUP – 100% of which are already in stock and ready to ship. We've also been able to lower our average prices in order to engage as many consumers as possible and are humbled to be in a position where we can continue providing great brands at great prices during a time when many are feeling price pressure in other parts of their lives." – James Reinhart, Co-founder and CEO, thredUP
Notable findings from thredUP's 'Thrift for the Holidays' Report reveal:
Secondhand is a viable gift option amid inflation, supply-chain pressures:
Consumers are more open to thrifted gifts as they seek better deals:
As the gift of thrift gains traction, Gen Z is leading the way:
Thrifting helps cut holiday waste during a particularly wasteful time of year:
thredUP data reveals the Top 10 thrifted items topping wish lists this year:
thredUP's products are all in stock and ready to ship! From classic gifts to TikTok trends, value to luxe, these are the hottest items selling the fastest on thredUP right now. Based on analyzing thredUP's 35,000+ brands and 100+ categories to determine the brands and styles in the highest demand over the past month.
But 2021's best gift of all? Gift cards. According to survey data, 2 in 5 consumers say they plan to give a gift card this year.
"It's amazing and encouraging to see how many consumers are now open to gifting thrift. We've heard that consumers are growing tired of the waste of the holiday season, and are increasingly seeking more sustainable options that align with their values. This is particularly true of GenZ. By choosing used for the holidays, consumers are cutting waste for both their wallets and the planet." - Erin Wallace, VP of Integrated Marketing, thredUP
Download the full 'Thrift for the Holidays' report here.
About thredUP's 2021 'Thrift for the Holidays' Report
This report contains research and data from GlobalData, a third-party retail analytics firm. For the purpose of this report, GlobalData conducted a survey of 2,000 American adults over 18, asking specific questions about their holiday shopping behaviors and preferences for secondhand. thredUP's report also leverages data from the following sources: Green Story Inc. research and internal thredUP brand performance data.
Disclosure: All third-party brand names and logos appearing in this report are trademarks or registered trademarks of their respective holders. Any such appearance does not imply any affiliation with or endorsement of thredUP.
About thredUP
thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest resale platforms for women's and kids' apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. In 2018, we extended our platform with Resale-as-a-ServiceⓇ (RaaSⓇ), which facilitates modern resale for a number of the world's leading brands and retailers. thredUP has processed over 125 million unique secondhand items from 35,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.
Forward Looking Statements
This release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "predict" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Except as required by law, thredUP has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.
View original content to download multimedia:https://www.prnewswire.com/news-releases/thredup-releases-thrift-for-the-holidays-report-revealing-that-new-waves-of-consumers-are-planning-to-gift-secondhand-this-year-301424795.html
SOURCE thredUP
Copyright 2021 PR Newswire
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