The resale boom has made thrifting more accessible than ever. Urban Outfitters now offers a marketplace for secondhand goods.
Urban Outfitters’ parent company URBN announced Nuuly Thrift on Tuesday. This app will offer accessories and apparel for kids, men, and women, and be a sister platform of the company’s existing rental program Nuuly.
The new platform, owned by URBN is Nuuly Thrift. Users can shop and sell items from any brand other than the company’s portfolio, which includes Anthropologie and Free People as well as Urban Outfitters, BHLDN and Terrain. It also comes with Nuuly Cash, its own currency. Users can sell their items to receive credits, which are worth 10% more than cash buyout. These credits can be used for future purchases, as well other URBN brands.
Richard A. Hayne, Urban Outfitters, Inc.’s Chairman and CEO, stated that URBN “has been in the vintage renew business since our founding” in a press release. He was referring to the company’s reuse & recycling strategy. “We are excited to see Nuuly Thrift launch and help URBN capitalize on changing customer behavior and gain market share within the rapidly growing online resale industry.”
The popularity of consignment websites like Tradesy, The RealReal and thredUP has helped the online resale industry grow exponentially over the past year. This is in addition to Gen Z’s love for thrifting and Depop’s increasing popularity. It’s only going up: The 2021 thredUP resale report predicts that this market will be worth more than $77 billion within five years. This is a significant increase from the $36 billion it was today.
Although there is no date for launch, Nuuly Thrift will be available on iOS first.