News Release Details

The first-of-its-kind monthly index tracks which brands and retailers have launched resale programs and their potential impact on the planet

OAKLAND, Calif., April 21, 2022 /PRNewswire/ -- thredUP (NASDAQ: TDUP), one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories, today announced the Recommerce 100, a comprehensive review of brands and retailers with dedicated resale programs. The monthly index, conducted by thredUP's resale analysts, tracks brands' adoption of resale and top brands' estimated resale shop size with a focus on fashion brands and retailers who sell their own brand's pre-owned products online in the U.S. It measures year-over-year (YoY) growth in the number of resale shops brands are launching and includes the number of resale listings in each brand's resale shop.

"At the current pace, the number of new resale shops launched in 2022 is expected to exceed the number of all other resale shops launched to-date," said James Reinhart, CEO of thredUP. "The acceleration of resale adoption is a positive signal, but for the industry to make a significant impact will require a more meaningful investment from participating brands and retailers. The Recommerce 100 aims to shed light on resale shop penetration and recognize the brands making the biggest impact through resale."

Notable findings from the March 2022 Recommerce 100 include:

• Resale adoption among brands and retailers is accelerating.
• There are an estimated 41 brands with resale shops consisting of 133K total listings.
• 22 brands launched resale shops in 2021, and 11 have already launched in the first three months of 2022.
• There are 40+ additional brands with Take Back-only programs.
• Small brands are demonstrating leadership in resale.
• Of the 41 branded resale shops identified, at least 25 are small, private companies.
• Brands are barely scratching the surface of recommerce's potential impact.
• 20 brands had fewer than 200 resale shop listings.
• We estimate that the top brands' average resale penetration is less than 0.1% of those brands' total revenue.
• If all 133,000 resale shop listings in the Recommerce 100 were sold, it would be the equivalent of 27,000 trees planted and 374 homes powered annually, according to Green Story Inc.

Top 10 brands with the most listings include:

1. Eileen Fisher
2. Tea Collection
3. Lululemon
4. REI
5. Patagonia
6. NATION LTD
7. Michael Stars
8. Kut from the Kloth
9. Levi's
10. Madewell

Resale is expected to grow 11 times faster than the broader retail clothing sector by 2025, and 1 in 3 retail executives say resale is becoming table stakes for retailers, according to thredUP's 2021 Resale Report. The Recommerce 100 will be updated on a monthly basis, with the next update in May. For more information about how thredUP's Resale-as-a-Service enables brands and retailers to deliver quality and seamless resale experiences to their customers, visit raas.thredup.com.

Recommerce 100 Methodology
The Recommerce 100 is compiled from publicly available information to identify fashion brands selling their own brand's pre-owned products online solely to US shoppers. Only resale listings that are available from a brand's e-commerce site are counted towards that brand. Listing count includes listings managed by the brand, as well as listings by independent sellers (commonly referred to as peer-to-peer selling). A count of listings was completed between March 18 and March 21, 2022. Listing count either reflects 1) the stated number of total results commonly found at the top of the first product listing page, or 2) if results are not featured on the product listing page, a manual count of all listings. Listing count is intended to be directionally representative of the size of a brand's resale shop at a given time. There is no guarantee that our listing count is exact given the dynamic nature of e-commerce listings, sales, returns, as well as site and user experience factors. Listing counts do not include listings on third-party marketplaces (examples include thredup.com, therealreal.com, poshmark.com).  thredUP Resale-as-a-Service™ clients are counted among the brands and retailers with Resale Shops or Take back-only programs (e.g. Nation LTD, Michael Stars, Kut from the Kloth and Madewell). We've found 41 resale shops to date, but aspire to reach 100 as we update monthly—check back soon!

Resale shop launch year and the presence of a branded take back program are compiled based on publicly available information from sources including statements on brand websites, media coverage, brand social media posts or inquiries to brands' customer service.

Estimated resale shop penetration is modeled using publicly available information on brand annual revenue, listing counts (see above listing count methodology) and a survey of listing prices.

Published March 2022

Disclaimer
The Recommerce 100 contains estimates, based on publicly available information as of the published date of data collection expressed in the Methodology, and therefore involves a number of assumptions and limitations. thredUP has not independently verified the publicly available information and cannot guarantee accuracy or completeness of the information. Resale shop listings, resale shop launch year, estimated resale sales value as a percent of brands' total publicly stated revenue and the presence of an evergreen clothing takeback program (for recycling, donation or resale) are therefore subject to a high degree of uncertainty, especially as resale is a new and rapidly changing segment. These and other factors could cause actual numbers to differ materially from those expressed. We do not guarantee that the Recommerce 100 includes every fashion brand selling its own pre-owned products online to US shoppers.

Except as required by law, thredUP assumes no obligation to update any report after the published date of data collection. thredUP intends to publish the Recommerce 100 on a monthly basis.

About thredUP
thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest online resale platforms for women's and kids' apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. With thredUP's Resale-as-a-Service, some of the world's leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. thredUP has processed over 125 million unique secondhand items from 35,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.

Forward Looking Statements
This release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "predict" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Except as required by law, thredUP has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.

Contacts
Press
media@thredup.com

Resale-as-a-Service
raas@thredup.com 

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SOURCE thredUP