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Retail giant Urban Outfitters has made a massive splash in the online resale space with the announcement of its new app: Nuuly Thrift, set to launch in Fall 2021. Nuuly Thrift is a platform where users can "buy and sell women's, men's and kids' clothing, accessories and shoes."
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Depop, Poshmark, Thred-Up, and other online resale marketplaces face a new competitor that offers a unique reselling experience. On Nuuly Thrift, when it comes to their earnings, sellers still have the option of a traditional direct bank deposit. However, sellers can also choose to earn Nuuly Cash: in-app credit that's worth 10% more than the conventional cashout, as long as it's spent on any of URBN's brands.
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According to Thred-Up's 2021 Resale Report, the second-hand market is projected to double in the next 5 years, reaching a whopping $77 Billion. Considering the numbers, it's no surprise why URBN has decided to step into the second-hand resale world.
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Whether you're a fan of Urban Outfitters or not, consider supporting the second-hand clothing market. It keeps existing clothes in circulation, lessens clothing waste, and is an affordable option for sustainable fashion.
Nuuly Thrift is the sister platform to Nuuly Rent, a women's clothing rental subscription that first launched in 2019.
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