ThredUP

= a web-based peer-to-peer clothing exchange service: an easy way for consumers to swap clothes inexpensively and efficiently

URL = http://www.ThredUP.com

Description

James Reinhart, Founder of thredUp:

"I co-founded thredUP because… I conceived the idea for thredUP after staring in my closet and realizing that I didn’t want to wear anything in it. Knowing that I would never be caught dead at a clothing swap, I knew that other guys must have the same problem. I decided to find an easy way for consumers to swap clothes inexpensively and efficiently. In October 2009, co-founders Chris Homer, Oliver Lubin, and I launched thredUP, a web-based peer-to-peer clothing exchange service.

The idea for thredUP kids came from… After our initial launch for men and women, the more we told the thredUP story, the more we heard “why don’t you do this for kids?!” It makes sense — kids grow pretty darn fast and their clothes are expensive. In fact, we learned that kids grow out of their clothes every 3-6 months! So we went back to the drawing board. In April 2010, we launch thredUP kids, the place for America’s busiest families to conveniently exchange kids clothing online.

thredUP aims to….… Bring a new level of affordability, convenience, and eco-consciousness to a highly fragmented, billion-dollar market for second-hand children’s clothing. We’ve designed the site to help parents easily swap clothes their kids have outgrown for great new items that fit." (http://www.collaborativeconsumption.com/archives/the-movement/james_reinhart_founder_of_thredup.php)

How To

"The easiest way to explain thredUP is…

In four steps: pick, pay, prepare, and send:

1. Pick a box of gently used clothes you’d love to receive for your child (from another member) 2. Pay for shipping 3. Prepare and list a box of clothes your child has outgrown 4. When someone picks your box, send it free of charge (we even have the Postal Service pick-up the box at your house)

We manage the quality control and review process and take care of all the details to make sure you get a quality exchange." (http://www.collaborativeconsumption.com/archives/the-movement/james_reinhart_founder_of_thredup.php)

Statistics

What’s statistics indicates the opportunity of thredUP? …

Here are a few great stats that display the opportunity that thredUP has uncovered:

• 12,000 articles of clothing were shipped within 8 days of the launch • 2,500 invites were sent out by members. We did not prompt these invites with a referral reward. Members just love the idea and want to tell friends! • Reviews have been overwhelmingly positive. 91% of all exchanges have received a 3 or 4 star review rating (out of 4 stars). • Average number of “stylie points” (rating how stylish your clothes are) is approximately 8 out of 10. " (http://www.collaborativeconsumption.com/archives/the-movement/james_reinhart_founder_of_thredup.php)

Discussion

"The biggest misperception about thredUP is… That all swaps are anonymous and “risky” — not true! Members have the choice to either swap within their “Inner Circle” or expand into thredUP’s national network of parents. A thredUP “Inner Circle” allows members to exchange within a trusted community of friends and family.

I am always being asked… How do three guys with zero children launch a kids clothing exchange web site? How do I know what parents (and especially moms) want? Long ago Chris, Oly, and I agreed that you don’t tell customers what they want, they tell you. We also knew that if we were going to make anything in this space work, we needed women way smarter than us to be involved. We’ve added Carly, our Chief Mom, and, more recently, Sara, our Military Mom. These women are helping us build the best possible experience for parents.

The hardest decision so far… Determining how “finished” a service needs to be a launch. We had the choice to hesitate and launch a “flawless thredUP experience” two months out, or simply let our customers tell us what needs perfecting. It turns out that customers don’t expect perfection out of a start-up - they are actually excited to provide constructive feedback and help build an experience that they will love. We’ve killed several features based on customer recommendations that otherwise we may have spent (wasted) weeks perfecting. It’s very rewarding for both a founders and early adopters to work collaboratively, building something truly remarkable." (http://www.collaborativeconsumption.com/archives/the-movement/james_reinhart_founder_of_thredup.php)