After A Successful Rental Service Launch In 2019, Nuuly Is Diving Into Resale
... [+]“Our customers have diverse interests and diverse closets, so we’re approaching Nuuly Thrift in the same way we did Nuuly Rent,” said Hayne. “In both platforms we support many brands beyond just the URBN family of brands because we believe our customers will appreciate the variety and diversity of the assortment.
When customers sell an item on Nuuly Thrift, they’ll have two options for receiving payment. They can transfer their earnings directly into their bank account, or redeem them for Nuuly Cash, which will be worth 10% more at Nuuly Thrift and the URBN family of brands. “URBN has been in the vintage renewal business since our founding in 1970,” said Richard A. Hayne, CEO and chairman of Urban Outfitters. “With the launch of Nuuly Thrift, we’re excited for URBN to capitalize on shifting customer behavior and gain market share in the rapidly-expanding online resale market.”
Nuuly Cash will incentivize customers from both platforms to continue to spend within the secondhand space, extending the lifespan of their clothing. URBN and resale are also natural partners. URBN customers are very active in the resale market, with three-quarters having made secondhand purchases and nearly half having sold secondhand items in the past year.
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