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Shoppers are buying from resale retailers more than ever. Here’s why!

 

Retailers seek success with customers by focusing on stability and finding products that are hard to find, while avoiding chains, retailers are always thinking.

Big retailers like Walmart and Target have focused on lower prices and absorbed shipping, energy, and supplies to customers. Other retailers, such as Macy's and Kohl's, have rallied to raise prices.

However, providers The RealReal and ThredUp offer secondary equipment, product tiers, and prices.

“Many retailers have to raise prices due to price increases or product disruptions, but we're not having the same impact,” ThreadUp CEO James Reinhart said in a news release on quarterly income. According to Reinhart, ThredUp's business is based on local consumers and is not used to develop its products.

“At a time when consumers feel great value in many areas of their lives, we have decided to cut our costs to engage as much as possible with more customers,” he added.

ThreadUp's value fell an average of 15% in the third quarter compared to the same period last year. Reinhart said the company will continue to cut costs with ThredUp home appliances.

The company reported quarterly profit of $ 63.3 million in the quarter, up 35% year-over-year. In addition, the number of active users was 1.4 million data and orders 1.3 million, up 14% and 28% from the previous year.

RealReal Founder and CEO Julie Wainwright said the company's products moved forward with the coronavirus after quarterly results.

He also noted that RealReal is shielded from the effects of inflation that other companies have experienced.

RealReal reported total revenue of $ 119 million in the quarter, up 53% from a year ago. The number of orders in the third quarter was 757,000, up 38% from the same period last year.

Tim This, Founder and CEO of Tim This Retail Consulting said, “I am very happy that retailers are changing in the face of sales and every retailer issue. " Traders, however, have not sold their full confidence in these companies, despite the global chain of competition for retailers. ThredUp's stock has been volatile since its first IPO this year, and the stock has fallen after the recent rally in one-day earnings. RealReal recently gained momentum from its revenue, but is down almost 25% this year.