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thredUP.com Releases Second Annual Clothing Resale Report

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SOURCE thredUP.com

Fashion resale site reveals most popular women's and children's resale brands, secondhand shopping savings figures and the Savviest Cities in America

SAN FRANCISCO, Feb. 26, 2014 /PRNewswire/ -- thredUP.com, the largest online resale shop for women's and children's fashion, has published its Second Annual Resale Report to empower consumers with the knowledge to update their wardrobe in a smarter way. thredUP's Resale Report, published in time for spring cleaning season, is designed to be the Kelley Blue Book Report for clothing – offering insight into the brands and styles that retain value over time and the amount of money people can save annually by expanding their shopping habits beyond retail.

(Photo: http://photos.prnewswire.com/prnh/20140226/NE72313-INFO )

Demand for fashion resale online is heating up, with resale one of the fastest-growing sectors of retail and online apparel sales predicted to grow at a rate of 16.4 percent through the year 2016. As resale evolves towards a mainstream shopping practice, it's important that consumers understand best practices for buying and selling secondhand clothing on the Web.

"This Report is something we look forward to compiling each year because it really illustrates the value of secondhand shopping to consumers, which is ultimately why I founded thredUP," said James Reinhart, CEO and co-founder of thredUP. "While resale is becoming more mainstream, many people don't realize just how much money they can be saving their family and how easy it is to do so."

Highlights from thredUP's Second Annual Resale Report include:

Impact and Industry Insights
In 2013, people earned $3.2M selling their clothing to thredUP compared to $800K earned in 2012. These savvy shoppers saved $21M shopping on thredUP, more than five times the savings recorded in 2012.

Sixty-two percent of customers shopped with thredUP on a mobile device, and 43 percent of holiday shoppers purchased gifts on the site – demonstrating that quality secondhand clothing is considered good enough to gift.

The Nation's Savviest and Stylish Cities
Residents in the following 10 U.S. cities are the most fervent adopters of online resale, saving a combined total of nearly $1.8M buying and selling clothing on thredUP in 2013: #1 San Francisco, #2 Brooklyn, #3 New York City, #4 Seattle, #5 San Jose, #6 Chicago, #7 Houston, #8 Los Angeles, #9 Miami, #10 Portland.

thredUP's Style Trend Winners were Brooklyn, NY (Designer Styled), Pleasant Shade, TN (Dressed to Impress), Weston, FL (Fit and Fashionable), Fontana, CA (Prepsters) and Lancaster, PA (Shoe Obsessed).

2013 Resale Brand Winners
Best Brands to Buy Resale: Premium brands dominate this category, with the largest amount of money saved per item and the steepest percentage discount – an average of 81 percent off retail. A selection of the women's and children's brand winners include: Theory, Rebecca Taylor, Marc Jacobs, Tory Burch, Diane von Furstenburg, A Pea in the Pod, J. Crew, Gymboree, Ralph Lauren and Janie and Jack.

Best Brands to Resell: Certain brands hold up better through wash cycles and remain coveted by shoppers long after their first purchase date, including: Paige Denim, James Perse, MICHAEL Michael Kors, BCBGMAXAZRIA, Splendid, crewcuts, Tea, Levi's, Nike and Mini Boden.

Fastest-Selling Resale Brands: Customers understand the value in buying these brands resale and grab pieces with these labels the moment they see something in their size. Some category winners include: Burberry, Coach, TOMS, Hudson, True Religion, lululemon athletica, Motherhood Maternity, Matilda Jane, Zara Kids and Petit Bateau.

Trends in Resale Products Purchased: Shoes, accessories, outerwear, dresses and activewear were the most popular categories in 2013. Resale shoppers also pay attention to the fashion trends; designer jeans, cape-style sweaters, leather jackets (pants and skirts, too) were some of the items that flew off our "e-shelves".

Resale Advice from the Experts

  • Spend the extra dollars when you find great designer fashion second-hand. Premium pieces hold up in terms of style and quality over time; prices may seem higher, but pale in comparison to the retail amount.
  • Scope out seasonal items like winter jackets in the resale market. At retail, these are more expensive "investment" purchases; buying gently used, you can afford to mix your outerwear style up more frequently.
  • Shop for hi-low outfit essentials second-hand. While designer brands have the best savings value, one-third of the women's items thredUP sold in 2013 were lower-priced, trendy brands like Zara, H&M and Forever21.

The Second Annual Resale Report was compiled based on thredUP's internal re-commerce data from January 1, 2013 through December 31, 2013. Visit thredup.com/resalereport to learn more, including how much you could save each year shopping resale. Last year's Report can be found at thredup.com/resalereport/2013.

About thredUP
thredUP is the largest online resale shop for women's and children's fashion. Based in San Francisco, thredUP was founded in 2009 by James Reinhart, Oliver Lubin and Chris Homer. The company is advised by current Netflix CEO Reed Hastings, former eBay COO, Brian Sweete and backed by world-class investors.

CONTACT:
Farrell Klein
415-402-5202
farrell@thredup.com

©2012 PR Newswire. All Rights Reserved.

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