Walmart, the world’s largest retailer, has forayed into resale market in partnership with ThredUp – a renowned resale platform. Walmart will now resale the previously owned products such as branded garments, handbags, footwear, among many others.
According to Walmart, it started working on this resale model a year ago and the current unprecedented time due to COVID-19 pandemic has pushed the company to launch it now as many households world over are now reducing their expenditures in the wake of job losses and furloughs.
This resale model will appeal (as expected by Walmart) millennial shoppers who are environmentally driven in their shopping patterns and preferences.
According to Walmart, around 750,000 products are listed on its digital storefront as ‘new’ or ‘like new’ (for clothing and shoes) and ‘gently new’ (for handbags and accessories) which is curated by ThredUp.
The partnership with ThredUp would also add other fashion brands which are not sold at Walmart such as Nike, Coach, Michael Kors and Calvin Klein.
Walmart has also made it clear that merchandise will be sold at its digital platform Walmart.com/ThredUp, but the shoppers can return the purchased products either at Walmart store or at ThredUp for free.
The partnership will also bring forth the ability for shoppers to score free shipping on orders over Walmart’s US $ 35 threshold. The revenue sharing model has not yet been disclosed in this partnership.
