Community UPdate: Announcing New Payout System Where YOU Get More Control
Super sellers, we’ve got some news for you! We’ve taken all your feedback to heart over the years, and (we hope!, we think!) we’ve come up with a new payout system that addresses all of your concerns and makes the selling process as easy and enjoyable as it should be.
Drum roll, please! The big news is that YOU now have the control over the pricing of your items and the timing of your payouts. Since everyone is unique—from your amazing personal style to the way you like your coffee, it only made sense to update our payout system from a ‘one size fits all’ approach to a ‘tailored specifically to you’ model.
Change is good
All accepted items will now automatically be listed on consignment after a 24-hour waiting period. But you take control from there!
Do you want to get paid right away even if it means making a little less money? Okay! Done. You’ll like our Upfront Payouts option. We’ll offer you a payout that’s available as soon as your items are processed. The payout will be slightly lower than what you might receive if you put your items on consignment but it’s guaranteed (and calculated by our fancy, generally accurate computer program). You can choose this option for all the items in your Clean Out Bag or just a few. It’s totally up to you. You have 7 days to accept your upfront payout offer.
Do you want the highest price for your items and you’re okay with waiting a bit longer to get paid out? Okay! Done. You’ll like our Consignment Earnings option. You’ll get a payout after your items sell. You can edit the listing price of your items at any time, or let us do the pricing work for you. This option is closest to the consignment model at thredUP you are already familiar with.
The changes outlined above will be rolled out over the next several days to Clean Out Bags we are currently processing. If you want to know whether your bag is being impacted, please check your Bag Details page.
The elephant in the room
The one thing we consistently hear in your feedback and comments is that you want faster bag processing times. We want you to know we are working feverishly to get your bags processed faster during busy periods. The fact that so many people are cleaning out their closets all across the country makes us so happy, but making people wait does not. So, we wanted to let you know that there are some things you can do to help speed up the process.
-Choose Expedited Shipping when you order a Clean Out Bag. For $16.00, put your bag in the front of the line and get it processed within one week.
-Instead of waiting for a Clean Out Bag to arrive in the mail, just print out a pre-paid shipping label and use a box from home.
-More about the karma than the cash? You can always select a Donation Bag and support a charity of your choice.
-To get that bag out the door as quickly as possible, schedule a free USPS pick-up at your house.
The fine print
In order to help your items sell faster, thredUP reserves the right to adjust the price of your items. We’ll always let you know if our auto-magic pricing is on, and you can still edit the price at any time.
You also have the option to reclaim your consignment items for up to 84 listing days.
If you choose Return Assurance and/or Expedited Processing, those fees will be automatically deducted from any earnings.
When determining pricing, we take many factors into consideration: estimated retail price, seasonality, age of the item, quality, style, and the level of inventory we already have in that size, brand or style. thredUP listing prices are based on the average price of the item when new and the fair market value of that item in resale. Our dynamic pricing model means you could see a slight increase for items that are in-season and in high demand. When an item is placed in a cart, the price is set and is not subject to an increase at that time. We price all items individually, so two items that look the same time might have slightly different prices.
Questions and comments, please!
We’re so excited about the changes we’re making that reflect the feedback we’ve heard directly from you! We are in constant feedback mode, and we want to bring you the best possible Clean Out experience. As always, thanks for Cleaning Out with thredUP, and if you have any questions at all, please contact us at firstname.lastname@example.org.