Published on November 11, 2016Leave a comment

A Payout UPdate From Our CEO

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At thredUP, our mission is to inspire a new generation of shoppers to think secondhand first. Every day, we work hard to make it super easy for you to clean out your closet and simplify your life, and to offer high-quality secondhand clothes at unbelievably competitive prices.

Over the past few years, we’ve now processed more than 20 million items!!! During that time we’ve learned a lot about what has immediate resale value, what sells quickly, but also what needs a little more time to be found by the right buyer. While there’s always demand for Lululemon or Paige Denim jeans, a statement dress from Nanette Lepore might need a few more people to see it for it to sell.

So based on that learning and experience, we’re making some changes about what gets paid out “upfront” – i.e. before it sells – and what gets paid on “consignment”- i.e. you get paid after it sells. We’re also adding a few additional levels to the payout buckets to make our payouts and pricing easier to understand as the price goes up. These improvements will not materially change how much you earn for a given bag or over a given year, but it may change when you earn the money. For a lot of you, this is going to mean more money in your pocket, faster. Generally speaking, the more on-trend, in-season, and great condition items you send us (regardless of price now!), the faster you’ll earn a payout.

We hope that you also continue to value the services and convenience that thredUP provides: pick-up and delivery, listing with professional photography, selling, and shipping your items to new closets across the country. (A $50 value!)

Our complete payout structure for Clean Out Bags received on or after December 5, 2016 is available below:

updated_payout_structure.png

These changes ensure that we can continue to deliver an amazing experience for both our buyers and sellers, and to provide the best overall sustainable fashion service in the world. Online resale is among the fastest growing segments in retail, and we’re proud to be leading the way as a pioneer in the industry.

Thank you for your passion in pushing this movement forward, inspiring others to experience all the good that comes from shopping and selling secondhand clothes.

If you have any questions at all or would like to comment, feel free to share them below or contact our Help Center at support.thredup.com.

James

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