As more millennials and Gen Z’s continue to embrace thrifting due to the resale boom, Urban Outfitters is launching its own thrift marketplace, Nuuly Thrift.
The company made the announcement of its Nuuly Thrift app, adding that it would be a sister platform to the company’s already existing rental program.
Urban Outfitters Nuuly platform offers men’s, women’s, and kids apparel, as well as accessories, however, on the Nuuly Thrift app, users will be able to shop and sell pieces from any brand outside of the company’s portfolio.
The app also has its own currency: Nuuly Cash. Users will gain Nuuly Cash when they sell on the platform. Nuuly Cash can then be used for future purchases on the platform, as well as other URBN brands.
Urban Outfitters, Inc.’s CEO and Chairman, Richard A. Hayne said,
“With the launch of Nuuly Thrift, we’re excited for URBN to capitalize on shifting customer behaviour and gain market share in the rapidly expanding online resale market.”
The online thrift market has seen a huge rise in the past year especially among Gen Z’s. It is estimated that this market would be worth over $77 billion in five years. Other brands by Urban Outfitters include Anthropologie, Free People, BHLDN, and Terrain.
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Blessing Iyamadiken loves the art of storytelling and enjoys creating all types of content from news to entertainment. She is also a feminist and very passionate about Gender Equality. In her spare time, she loves to read or binge on Netflix.
