ThredUP Signs Hot Topic for Resale Service; Reveals the biggest savings brands
Hot Topic dives into the world of savings leveraging technology from thredUP.
More and more brands are jumping on the resale bandwagon. The latest to sign up for thredUP’s Retail as a Service, or RaaS, is Hot Topic, a retailer for teens and young adults. Today, the retailer is launching Hot Topic Replay, a 360-degree resale program that allows customers to purchase used products directly from its website.
In addition to buying used products at hottopic.thredup.com, US consumers can also resell gently used clothing for Hot Topic credit. All they have to do is generate a prepaid shipping label and stuff pre-loved women’s and kids’ items into any deliverable box or bag. Shipping of products to thredUP is free, and shopping credit for items listed and sold can be used at Hot Topic stores or the brand’s e-commerce site.
“Incorporating resale into our business model is another step towards sustainability and an exciting opportunity for our customers,” said Steve Vranes, CEO of Hot Topic. “The launch of Hot Topic Replay gives our customers the opportunity to give their pop culture products a second life. Leveraging thredUP’s RaaS was the right decision for us as they have over a decade of experience reselling at scale and were able to get us up and running in a short time.
“We view Hot Topic Replay as the place where Hot Topic products can find a new home and where fans can find their favorite Hot Topic apparel that might otherwise be sold out,” Vranes said.
Hot Topic wows its audience with its slew of merchandise — t-shirts and more emblazoned with artist iconography from Billie Eilish to Motley Crüe. The retailer also sells music and Funko, licensed and limited-edition pop culture collectibles such as vinyl figures inspired by Japanese anime, Marvel, DC Comics, and “Stranger Things,” among others.
“Hot Topic is a brand that has retained its cultural relevance over the decades. Their finger is on the pulse when it comes to younger shoppers who value self-expression and individuality or are looking for a dose of nostalgia,” said James Reinhart, CEO of thredUP. “We are thrilled to enable Hot Topic Replay and believe entering the resale will help Hot Topic build brand affinity among customers who are looking for that unique t-shirt or collectible. , while also serving as a new growth channel for the company.”
ThredUP’s customers and brands include Reformation, which uses RaaS to incentivize its sustainability-conscious customer base to sell their second-hand clothes for Reformation credit using thredUp’s Clean Out Kits, which close the circle by keeping clothes out of landfills.
In other news, ThredUP today unveiled the latest installment of its Recommerce 100, an independent database of brands and retailers who have launched resale programs and how their efforts will potentially impact the planet.
The Recommerce 100 was launched to reveal how the momentum and craze around resale is evolving as brands host their own resale stores by identifying and counting brands that have entered the space. The Recommerce 100 ranks recommerce stores by the number of product listings they have.
The first edition of the Recommerce 100 was released in March with 41 brands. That number has now surpassed 100, and by the end of September, thredUP had 107 resale stores, with 73 launching in 2022. ThredUP called the growth “explosive,” considering that only 31 brands have entered the resale space. resale end of 2021. If growth continues, there could be over 140 resale stores by the end of the year.
The top 10 brands by number of resale listings in descending order are Athleta, Tea Collection, Lululemon Athletica
LULU
ThredUP has the most managed resale stores at 11, followed by Trove’s eight and Archive’s three.
