Just my opinion but no fee or tax or interest rate should EVER exceed 10%. CAP IT OFF at the START of the double digit mark lest it creep up continuously to 25-30% +. If they can’t make it off 10% of every single transaction (millions a day) then nobody can. We all can and would do better if this was change was implemented (mandated) all across the board universally. Mercari was smart enough to see that!
I've been buying and selling on ThredUp for years (from when they only sold children's clothing!) and the structure has changed a lot, in neither the seller nor the buyer's favor.
The clean out bags used to be processed for free, now there is a $14.99 surcharge before you ever see any earnings, if any. If you are lucky, you can get a discounted clean out bag, but it is still $8-10 off the top. Commissions aren't high unless you are selling super high end and I can't afford to buy that stuff used much less new. I used to be able to make a decent commission on mid-range brands but even those are hit or miss now. I turn the money right back around for buying used from them, so I'm not running a business here, but I still feel cheated on some level because I remember how it used to be.
On the buying side, everything costs more and the listings are hard to sift through. Shipping is MUCH higher than it used to be and there are significant cost penalties to returns. They've gotten somewhat better with sorting, particularly with fiber offerings and better measurements/tag pictures, but it is still far from ideal if you are looking for something specific. There really aren't deals to be had. Just endless discounts on stuff that ends up making me feel like a sucker if I pay the full asking price. I rarely buy new clothing, and try to buy better brands second hand, with natural fibers, so the resale value should be decent, but often isn't.
I also question the thing about the market not having enough to offer. There are literally thousands of listings on ThredUp, more in a single category with filters than I can reasonably get through. Not cheap stuff either. I read all three parts of this series with interest, and will take a look at the other piece you linked at the bottom of Part 3.
Thank you for this great breakdown Devon. This is exactly why I won't buy from Vestiaire - their buyer fees are exorbitant at up to 25% of the item price. Such a shame because I love what they're doing to bring awareness to secondhand fashion.
Just my opinion but no fee or tax or interest rate should EVER exceed 10%. CAP IT OFF at the START of the double digit mark lest it creep up continuously to 25-30% +. If they can’t make it off 10% of every single transaction (millions a day) then nobody can. We all can and would do better if this was change was implemented (mandated) all across the board universally. Mercari was smart enough to see that!
I've been buying and selling on ThredUp for years (from when they only sold children's clothing!) and the structure has changed a lot, in neither the seller nor the buyer's favor.
The clean out bags used to be processed for free, now there is a $14.99 surcharge before you ever see any earnings, if any. If you are lucky, you can get a discounted clean out bag, but it is still $8-10 off the top. Commissions aren't high unless you are selling super high end and I can't afford to buy that stuff used much less new. I used to be able to make a decent commission on mid-range brands but even those are hit or miss now. I turn the money right back around for buying used from them, so I'm not running a business here, but I still feel cheated on some level because I remember how it used to be.
On the buying side, everything costs more and the listings are hard to sift through. Shipping is MUCH higher than it used to be and there are significant cost penalties to returns. They've gotten somewhat better with sorting, particularly with fiber offerings and better measurements/tag pictures, but it is still far from ideal if you are looking for something specific. There really aren't deals to be had. Just endless discounts on stuff that ends up making me feel like a sucker if I pay the full asking price. I rarely buy new clothing, and try to buy better brands second hand, with natural fibers, so the resale value should be decent, but often isn't.
I also question the thing about the market not having enough to offer. There are literally thousands of listings on ThredUp, more in a single category with filters than I can reasonably get through. Not cheap stuff either. I read all three parts of this series with interest, and will take a look at the other piece you linked at the bottom of Part 3.
Thank you for this great breakdown Devon. This is exactly why I won't buy from Vestiaire - their buyer fees are exorbitant at up to 25% of the item price. Such a shame because I love what they're doing to bring awareness to secondhand fashion.