SAN FRANCISCO--(BUSINESS WIRE)--thredUP.com, the leading online shop to buy and sell like-new women’s and kids’ clothing, today announced its holiday program #bagUP, an unprecedented opportunity for women to earn 100 percent of their handbags’ resale value. thredUP will not take any commission on handbags received through the end of the year and sellers with handbags currently listed on the site will automatically be opted into the program. To help spread the word and excitement about #bagUP, thredUP is also giving away a designer handbag every week through the end of the year.
“Handbags are expensive, yet most go unused. With bagUP, handbag owners can de-clutter and put money in their wallets or savings accounts for the holidays,” said Anthony Marino, Chief Marketing Officer at thredUP. “thredUP invented the easiest way to clean out your closet and we’re doing it again with our bagUP program. And if you're shopping for a handbag, thredUP offers an unrivaled selection, from Coach to Gucci, at up to 90 percent off retail prices."
Recent survey findings reveal American women, on average, spend as much as $160 on a handbag and own about 11 handbags. Ten percent of women have more than 20 bags in their closet and one in five women are actually holding onto their handbags because they've spent so much money on them.
- 20% of women have spent over $200 on a handbag
- Nearly one in 10 (8%) women have spent over $400
With only 35 percent of women using all of their handbags, the #bagUP campaign has the potential to help nearly two-thirds of women unlock hundreds of dollars from their closet leading into the holiday season.
If you’re in the market to sell your handbags, thredUP sells them fast and for top dollar. Since launching its Handbag Shop in May, thredUP has received nearly 25,000 bags across a range of shoulder and clutch styles and 90 percent of bags sell within 30 days. Brands like Chanel and Gucci are known to sell in minutes and are in good company with brands like Kate Spade New York, Coach and Tory Burch.
To order a pre-paid, pre-addressed Clean Out Bag to send in your handbags and enter to win a designer bag visit thredUP.com/bagUP. thredUP will photograph, list, sell and ship your bags to the buyer for free. Purchase documentation and manufacturing information is requested for all designer handbags and thredUP has a zero tolerance policy for counterfeit pieces upheld by a team of trained authenticity and pricing specialists.
About thredUP
thredUP is the leading online shop to buy and sell like-new women’s and kids’ clothing, and publisher of the Annual Resale Report. Based in San Francisco, thredUP was founded in 2009 by James Reinhart, Oliver Lubin and Chris Homer. The company is advised by current Netflix CEO Reed Hastings and former eBay COO Brian Swette, and is backed by world-class investors.
Survey Methodology
The thredUP.com survey was conducted between October 30 - November 2, 2014 as an online omnibus study by global research company ORC International. The report presents the findings of a survey conducted among a sample of 1,014 adults comprising 506 men and 508 women 18 years of age and older in the U.S. The data have been weighted to reflect the demographic composition of the 18+ population.
