Urban Outfitters has officially launched its Nuuly Thrift resale marketplace this week. The marketplace is launching initially as an iOS app which will allow consumers to buy or sell men’s, women’s, and kids’ apparel and accessories.
Nuuly Thrift isn’t only a marketplace for the Urban Outfitters’ brands—customers have the opportunity to resell products from any brand, and these products will be merchandised on the platform using a creative edit that sets the company apart. When customers sell an item on Nuuly Thrift, they will have two options: transfer their earnings directly into their bank account, or redeem them for Nuuly Cash, which is worth 10 percent more at Nuuly Thrift and the Urban Outfitters family of brands. For example: if a customer is paid $100 for a dress on Nuuly Thrift, that customer will have the option to convert it to $110 in Nuuly Cash, which can be spent back on Nuuly Thrift, or at Anthropologie, Free People, Urban Outfitters, BHLDN or Terrain—online and in stores.
The resale market is growing quickly and is a natural partner to rental. Nuuly’s end-of-life rental inventory will be sold through Nuuly Thrift, Nuuly Thrift will introduce new customers to Nuuly Rent and vice versa, and Nuuly Cash will incentivize customers from both platforms to continue to spend within the secondhand space, extending the lifespan of their clothing.
Urban Outfitters said that its 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. Products from Anthropologie, Free People, and Urban Outfitters are consistently among the top-performing brands in resale markets. The retailer aims to be able to encourage an active customer database of millions of customers across its brands to sell on Nuuly Thrift, and proceeds from sales on Nuuly Thrift will be redeemable as Nuuly Cash, which can drive incremental full-price sales back into the Urban Outfitters family of brands.