Some Pricing and Payout Changes
When we started thredUP five years ago, our mission was to inspire a new generation of consumers to think secondhand first. We wanted to make it super easy to get things you’re no longer wearing out of your closet, and put them online in a compelling way for people to shop secondhand fashion like they would at an e-commerce site.
As you may know, thredUP started as a peer-to-peer business connecting buyers and sellers just like eBay (but better we thought!). We quickly learned that most people don’t want to go through the work to sell their own things, and thought we could serve a lot more people if we made it much easier to both buy and sell awesome like-new clothing.
We were right! And with this new concierge service, we balance the needs of both our buyers and our sellers, along with the needs of the business (i.e. becoming profitable) to ensure we’ll be around for the long-term – for you!
With this in mind, we have two updates to share:
- We are lowering prices! Yes, really! We wanted to make it even easier for you and your family to wear the brands you love, and ensure that secondhand shopping is the smartest fashion choice.
- Our payout policy is changing for items listed under $40. Starting June 1, you will earn 10 – 25% upfront for these pieces, a range that previously went up to 40%. For most of you this will have very little impact on your thredUP experience, and you will still receive 40 – 80% of the resale price for items listed over $40. Our complete payout structure is available here.
These two changes will ensure that we can continue to provide the best overall sustainable fashion service for everyone. Our vision is to do all of the hard work to deliver an awesome experience for both our buyers and our sellers.
Have any questions or comments? Feel free to share them below or email support@thredUP.com. Thanks for reading, and sticking with us on our journey! We’re in it for you.
~ James Reinhart, CEO and co-founder
P.S. If you want to learn more about the business, here is a talk I gave earlier this year about thredUP’s evolution.