Rashtra NewsRashtra News
  • National
  • Business
  • Education
  • Entertainment
  • Finance
  • Insurance
  • Jobs
  • Sports
  • Stock Market
  • Technology
Notification Show More
Font ResizerAa
Rashtra NewsRashtra News
Font ResizerAa
  • National
  • Rashtra News Hindi
Search
  • National
  • Business
  • Education
  • Entertainment
  • Finance
  • Insurance
  • Jobs
  • Sports
  • Stock Market
  • Technology
Follow US
Rashtra News > Latest News > Business > Target tiptoes back into resale with new ThredUp deal, as it makes sustainability push
Business

Target tiptoes back into resale with new ThredUp deal, as it makes sustainability push

News Reporter
Last updated: April 8, 2022 9:52 pm
News Reporter
Share
4 Min Read
Target tiptoes back into resale with new ThredUp deal, as it makes sustainability push
SHARE

Target tiptoes back into resale with new ThredUp deal, as it makes sustainability push : Rashtra News

#Target #tiptoes #resale #ThredUp #deal #sustainability #push

Target ThredUp website

Source: Target

Target is tiptoeing back into secondhand sales through a deal with resale company, ThredUp.

The big-box retailer confirmed Friday that it launched a page on ThredUp’s website in late March that includes listings of women’s and kids’ apparel, along with accessories. Some items are from Target’s private labels, such as kids’ clothing brand Cat & Jack, or its limited-time designer collaborations, like one with Lilly Pulitzer in 2015, and others are from luxury brands not typically sold by Target. All are curated by Target from ThredUp’s inventory.

A company spokeswoman said Target is in a “test and learn” phase with ThredUp. She declined to share financial terms of the deal. ThredUp also declined to comment.

This is not the first time Target has teamed up with ThredUp, an online consignment and thrift store. Target launched — and then shut down — an approximately six-month test in 2015. It allowed shoppers to get Target credit for gently used items that ThredUp was willing to resell.

A Target spokeswoman said the company decided to partner again with ThredUp to tap into customers’ interest in value and sustainability. Target’s new webpage on ThredUp’s website is labeled as a beta test. It includes about 400,000 pieces priced at up to 90% off.

The partnership fits into Target’s broader sustainability initiatives, including Target Zero, a new label in stores and online that points out products or packaging designed to be refillable, reusable or compostable. The retailer also recently turned a San Diego-area storefront into its first net-zero energy store by adding massive carport solar panels.

For retailers, resale is a way to get in front of Gen Z and millennial shoppers who enjoy the “treasure hunt” and green aspects of thrifting, said Ashley Helgans, an equity research analyst who follows the sector for Jefferies. Through secondhand purchases, those younger consumers may develop an affinity for new brands and decide to make purchases directly from the original seller, she said.

For ThredUp, striking deals with retailers is a way to expand its reach and sell inventory more quickly in a growing, but highly fragmented industry, Helgans said. It competes with other players, including The RealReal, eBay, Poshmark and Depop.

ThredUp has also struck profit-sharing deals with retailers like Walmart and Madewell, which cross-list items on their own websites.

Helgans said Target’s previous test may have come too early. In 2015, the resale market stood at about $1 billion, according to Jefferies. It’s now grown to an estimated $15 billion in 2021 and is expected to more than triple to $47 billion by 2025.

Latest Sports News | Latest Business News

( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a www.cnbc.com feed.)

Related searches :

  • top business news today
  • business news hindi
  • world business news
  • business news economic times
  • business news share market
  • business news live
  • business news india live
  • zee business news

Related

TAGGED: Apparel Retail, Breaking News: Business, business, business news, climate, Deal, eBay Inc, Poshmark Inc, Push, RealReal Inc, resale, Retail industry, sustainability, target, Target Corp, ThredUp, ThredUp Inc, tiptoes, Walmart Inc
Share This Article
Facebook Twitter Copy Link Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Surprise0
Joy0
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

You Might Also Like

DSL Express Packers and Movers: Leading the Way in Safe and Affordable Relocation Services in Pune and Mumbai
Business

DSL Express Packers and Movers: Leading the Way in Safe and Affordable Relocation Services in Pune and Mumbai

1 month ago
Why Should You Hire Packers And Movers?
Business

Why Should You Hire Packers And Movers?

2 months ago
What Should You Know Before Hiring Packers & Movers?
Business

What Should You Know Before Hiring Packers & Movers?

2 months ago
DSL Packers and Movers in Pune: Setting a New Benchmark in Safe and Affordable Relocation
Business

DSL Packers and Movers in Pune: Setting a New Benchmark in Safe and Affordable Relocation

2 months ago

About RashtraNews.com

We're your comprehensive news source, covering a wide range of topics to empower you in all aspects of life. From navigating the world of finance (market trends, personal tips, loans, mortgages, credit) and legal matters (attorneys, lawyers), to staying ahead of the curve in technology (advancements, automobiles, business news) and education (careers, job opportunities, classes), RashtraNews.com keeps you informed.

Latest Updates

  • What Should You Know Before Hiring PUNE Packers & Movers?
  • DSL Express Packers and Movers: Leading the Way in Safe and Affordable Relocation Services in Pune and Mumbai
  • Why Should You Hire Packers And Movers?
  • What Should You Know Before Hiring Packers & Movers?
  • DSL Packers and Movers in Pune: Setting a New Benchmark in Safe and Affordable Relocation
  • A Comprehensive Guide to Transportation, Logistics, and Relocation Services Across Cities
  • Global Markets in Turmoil Amid Rising Inflation and Escalating Trade Tensions

Helpful Link

  • Automobile77
  • Business4,347
  • Crime129
  • Education4,542
  • Entertainment58
  • Finance5
  • India9,623
  • Insurance3
  • Legal News6
  • Lifestyle21
  • Media News79
  • Medical Education1
  • Politics4,340
  • Press Release5,319
  • Software100
  • Sports3,095
  • Stock Market2
  • Technology3,180
  • Top Stories7
  • World2,907

Contact Us

To send your suggestions to "Rashtra News", email: [email protected]

To send articles, news, or your opinions: [email protected]
For Business and other enquiries: [email protected]

If you‘ find any violation of the editorial code of conduct or have any other complaint about the content or video content published on "Rashtra News"’, you can send your complaint to our Grievance Officer by clicking on the Grievance Redressal link.

Follow US
©2011-2024 rashtranews.com
  • About Rashtra News
  • Ownership & funding
  • Corrections Policy
  • Fact Checking Policy
  • Privacy Policy
  • Terms of Use
  • Subscribe Now
  • Become a Author
  • Partnership With Us
Go to mobile version
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?