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Dive Brief:
- Noting that people have been selling their Shein items in other marketplace forums, fast-fashion site Shein on Monday said that it has launched a resale option of its own, Shein Exchange.
- U.S. Shein customers can buy and sell previously owned items via the existing Shein mobile app, according to a company press release. Shein Exchange is available to all U.S. customers, with plans to expand elsewhere globally next year.
- The marketplace was created in partnership with resale tech firm Treet, per the release.
Dive Insight:
Shein joins several other retailers in tapping into what ThredUp and GlobalData researchers say could be an $82 billion market in a few years.
Unlike brands like Athleta and others that have partnered with ThredUp to manage the logistics of collecting and shipping used items, the Chinese fast-fashion retailer is leaving it to its customers to take care of most of tasks, as they would on the marketplaces run by eBay, Poshmark or Facebook. Shein in some cases will set a maximum price that sellers can ask for an item, and sellers pay Shein 5% of their proceeds, according to Shein’s terms and conditions associated with the Exchange option.
The app populates a customer’s previous purchases, which can then be listed for sale through the Shein Exchange marketplace, according to the company’s press release. Like many apparel companies offering a way to buy used goods, Shein is touting sustainability benefits, although the environmental impact of resale e-commerce isn’t well studied.
"The goal of Shein Exchange is to make resale just as easy and convenient as buying something brand new, while also igniting a cultural movement of circularity within our own Shein community,” Adam Whinston, Shein Global Head of ESG, said in a statement. “We're calling on our community to mobilize and keep previously owned clothing in circulation for as long as possible. By harnessing the reach and the influence of our growing community, we believe that shopping resale can become the new normal in our industry."
via https://www.aiupnow.com
Daphne Howland, Khareem Sudlow
