One of the oldest and biggest attractions of buying secondhand goods has been to save money, but consumers have been able to get good deals on new clothing thanks to an inventory glut at many apparel chains.
Moreover, from the middle of last year, inflation has kept many from buying at all, even at resale, ThredUp CEO James Reinhart told analysts on a conference call Monday, who noted that was “particularly true for the budget shopper, who represents the majority of ThredUp’s customer base.”
Holiday promotions made already lowered prices that much harder to compete with in the fourth quarter, he also said.
Source: Retail Dive
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 