How fast-fashion backlash gave ThredUp a marketing edge

Online resale may be a hot retail buzzword now, but ThredUp has been around for over a decade building out its business. This week on the Modern Retail Podcast, ThredUp CEO and co-founder James Reinhart spoke about rising demand for resale and how the platform has expanded its offerings. Not only does ThredUp have its own marketplace business, but the company has been building out its resale-as-a-service offering, allowing brands to use its infrastructure to create their own consignment programs. "In some ways, I describe us as really the infrastructure and backbone of how resale works on the internet," Reinhart said. Compared to some of the recent fast-fashion upstarts, ThredUp is an older player. The company was founded in 2009, and went public in 2021. Still, ThredUp has been able to stay current with recent business movements. The rise of Shein and Temu -- as well as the backlash to their fast-fashion value-focused offerings -- has given ThredUp some helpful tailwinds, for example. "It's easy to have a boogeyman," Reinhart said. Reinhart also said that resale as an industry should be treated like other nascent technologies contributing to a greater good, like electric vehicles and solar energy. As such, he's calling for more government assistance as companies try to figure out ways to build new sustainability-focused technology. "I'm a big believer that government has a role to play in bridging the economic and innovation gap that it takes to develop some of these new technologies," he said.