thredUP lets you swap shirts online but soon they'll be targeting moms
One thing I am really good at is shopping. I’d like to think I have some style, but one thing I know is I adore good clothes. Dresses, yum. Handbags, oh my God. White t-shirts, my favorite. I spend a lot of time shopping, I can go into the store, assess the situation (Jersey Shore reference) and immediately figure out what’s going to be a hit.
Online shopping isn’t my zone; when I can’t try something on it becomes too much of a risk for me. I don’t want a bathing suit or a dress that falls off.
Well, since I am BostInnovation’s resident fashion guru, (I just decided that) the guys sent me over to Cambridge to check out thredUP, a start-up founded in October 2009 that lets you swap clothes online. No, it’s not like eBay, the GAP, or Craigslist– in fact it has very little in common with any of those websites.
ThredUp lets you swap your unwanted shirts for shirts you actually want to wear.
Clothes swapping not really your thing? Ok, but think about it from a mom’s perspective. The average parent spends $20,000 in 17 years on their kid’s clothing, and that’s just staple items like jeans and t-shirts. Babies grow out of clothes every three months. There is definitely a market there. In February, thredUp is launching thredUP Kids, a new platform that allows parents to swap their kid’s outgrown clothes and exchange them for larger sizes and styles.
Alright, hold up. Let’s not get ahead of ourselves talking about baby clothes. Here’s how thredUP works in its current form:
There’s a couple of steps to the thredUp process so lets take it slowly:
1) After your initial login you list the shirts you’re willing to part with, forever. According to the guys and girls at thredUP you don’t wear 25% of your closet. Right now thredUP is only offering men and woman’s shirts, but they’re looking to expand to pants and dresses in the fall. Think up your dream closet and let thredUP work its magic.
2) Next, pick the kind of shirts you would like to own by categories like where you’re going to wear them, size, and brand.
Hand-me-downs just got way better
3) Order Netflix-like envelopes to ship your unwanted clothes. ThredUP promises no trips to the post office, instead just a new set of clothes delivered to your doorstep.
Sound a little too good to be true?
There’s a couple of restrictions and precautions that thredUP has set up.
Barriers to Adoption
The strangest thing about thredUP is that there aren’t any photographs on the site. You don’t need to take pictures of every item in your closet; that’s time consuming and you risk poor-quality pictures. All you include is the size, brand, and color.
I am all for a mystery grab bag, but like I said before, I love my clothes. Knowing the color and the brand might not be enough.
At least there is no surprise when it comes to getting a fair trade. Your GAP button-down blouse is not going to get you a Valentino tank top. ThredUP categorizes brands; you trade in the category brand falls in. For example GAP, Banana Republic, and Anne Taylor are grouped together. So are Tory Birch, Michael Kors, and Trina Turk. I’ll admit, I thought I could play the system and do a little trade-up. It’s not going to happen.
ThredUP isn’t free. Nope, this isn’t Twitter of Facebook where everything is handed to you gratis. It’s not expensive thought, five envelopes only cost $25!
Also, ThredUP is not an exchange or a mutual swap between two people; their algorithm databases your closet and finds someone who is interested in the clothes you are giving away. Then, they find someone who matches your wants and the process becomes a whole cycle connecting disparate people. It’s actually a little like Netflix if you think about it.
Is it Worth it?
First off, you have to be down with the element of surprise– that is being ok with not knowing the exact brand and fit of the shirt. I know some of you are risk-takers, or maybe you want to be a risk-taker. Well thredUp might just be for you.
According to co-founder James Reinhart, thredUP has had an 81% satisfaction rate.
Not only are you saving a ton of money, but you’re being sustainable. With thredUP, you don’t have to throw away your perfectly usable pre-loved clothes. According to Reinhart eco-friendly moms have become huge fans of thredUP.
Students Should thredUP
Right now, according to Reinhart, thredUP’s biggest demographic consists of 30-something business professionals who are tired of their Brooks Brothers button-downs. While this is a solid market to be in, I see a great opportunity to tap college students.
1) We are all on a budget.
2) We love to be the best dressed.
3) We can’t wear a shirt more then twice. (Oh c’mon! You know it’s true.)
Now college kids may not be the post office’s biggest fans (our schools make us jump through hoops to get packages), but if you’re college student willing to deal with the whole snail-mail thing, you should add thredUP to your bookmarks. For a $25 investment you could be the best dressed kid on campus.
Now that we’ve covered the thredUP system and found some potential markets let’s get back to thredUp Kids–where BostInnovation thinks they’re going to make money.
thredUp Kids is Coming Soon!
Kids can be stylish too!
As I said earlier, the company is launching thredUP Kids next month. If your baby is 12 months old and has grown out of his little onesie, you’ll so be able to find someone who has put an 18 month old’s clothes in their thredUP closet.
ThredUp Kids will hit on the age-old mom activity of swapping clothes with other moms on the playground or at daycare.
ThredUp wants to change the whole hand-me-down system. They have big plans for the future; they’re in the brainstorming stage for designing containers that fit thredUp packages, so instead of storing your unwanted clothes in the attic or basement, you would be able put them in a container until you have enough clothes to ship. If thredUP successfully changes consumer behavior, the Salvation Army and Goodwill better watch their backs. People could be less likely to donate and more likely to swap.
The thredUP system is a complicated one, but it’s definitely worth a try. You can get great clothes on a budget, save the environment, and actually wear the clothes in your closet. All in all, the company is trying to make our lives easier and ensure we look hot when we hit the town.
I am curious to see if customers will adapt to the thredUP process. What do you think, would you use thredUp?
For all of you parents and kids out there, we’ll update you more on thredUp kids closer to the launch date. Stay tuned!
Want to see how thredUp is doing? Follow them on Twitter: @thredUp or fan them on Facebook.
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