Community UPdate: Payout Changes and Exciting Product Launches
Since we have a pretty lofty mission around here, we’re always trying to one-UP ourselves. It isn’t an easy feat to inspire a new generation of consumers to think secondhand first, but we think it’s pretty important to try. Fashion is the second most polluting industry, just behind oil. If everyone thought about their closets in a more circular fashion (pun intended), we would all reap the benefits collectively. Greener planet, fatter wallets, better style.
We’re halfway through 2018 and we just wanted to give you a status update on the latest stuff that’s happening at thredUP. We’re on this journey together after all. So, our half-year-end review is below.
-We launched Goody Boxes! If you haven’t tried one, you HAVE to. There’s over $500 worth of savings in every box. Get an assortment of curated items, handpicked just for you. A $10 deposit will be applied to any items you decide to keep.
-We’re on track to open 5-10 more retail locations in California by the end of this year. Come visit thredUP IRL!
-We launched Shop Her Closet in February with over 30 celebs, influencers, and some of our best sellers. Stay tuned for more opportunities to snag like-new items from covetable closets all around the country. (HINT: We have one next week!!)
-We launched Rejects. These are hauls that include clothes that don’t meet our high-quality standards but still have a lot of life left in them. This is all you, DIYers!
-We’re launching a new Buy & Bundle option later this month. If your order hasn’t yet hit $79, you have 7 more days to add items to your Bundle and qualify for FREE Shipping. We love this option since it saves multiple packages from being released into the wild.
-We are also announcing a simplified payout structure today. We are always evaluating our processing and payout system in order to bring you the best possible Clean Out experience. Our new payout structure, outlined in the table below, is effective on Clean Out Bags received after July 1, 2018. Some luxury designer items will see a slight increase in payout while other non-luxury designer items will see a slight decrease. Many sellers won’t even notice a change to their total payout.
-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 new dynamic pricing model, which goes into effect next week, 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.
We appreciate your business and if you have any questions at all please contact us at firstname.lastname@example.org.