Bloomingdale’s is entering into the resale market with a recent partnership with Rebag, offering pre-owned luxury accessories on the retailer’s ecommerce site and in five stores across the U.S.
The collaboration will involve Rebag with the resale of greater than 2,500 secondhand designer handbags, watches and jewellery online at Bloomingdales.com. As well as, Rebag will handle 500-plus items displayed in Bloomingdale’s stores in Recent York, Recent Jersey, Florida and California.
Bloomingdale’s is a component of Macy’s Inc., which ranks No. 14 in Digital Commerce 360’s Top 1000 list of North America’s largest online retailers, where it falls under the Apparel & Accessories category. Rebag, a digitally native reseller, makes a speciality of pre-owned luxury items, buying, authenticating, and reselling them directly moderately than through a peer-to-peer or consignment model. Digital Commerce 360 projects Macy’s web sales will reach $7.3 billion in 2024.
Macy’s web sales by 12 months
How Bloomingdale’s resale partnership with Rebag will work
Rebag’s CEO, Charles Gorra, highlighted the partnership’s mix of latest and pre-owned luxury.
“By bringing Rebag’s expertise in sourcing and vetting luxury goods to Bloomingdale’s discerning clientele, we’re setting a brand new standard in the luxurious retail experience,” Gorra said in an announcement.
The “Rebag x Bloomingdale’s” collection is now live on Bloomingdales.com, with in-store sections set to open soon. Each online and in-store selections feature high-end, “meticulously curated” items.
In Bloomingdale’s stores, Rebag’s custom-designed concessions will echo the feel and appear of Rebag’s own shops and be positioned on the accessories floors. The “shop inside a store” concept will debut at The Mall at Short Hills, Recent Jersey; Town Center at Boca Raton, Florida; Westfield Fashion Square in Sherman Oaks, California; Fashion Valley Mall in San Diego; and Bloomingdale’s in White Plains, Recent York.
Bloomingdale’s customers will even have the choice to sell their luxury items in-store through Rebag’s resale service. Rebag’s AI tool, Clair, evaluates tens of millions of information points to quickly determine item value and supply accurate quotes. Launched in 2021, Clair AI uses advanced image recognition and machine learning, with its accuracy improving over time. The tool can be available online at Rebag.com, where users scan items with their phone to get a quick price offer, even without knowing specific details just like the brand or model.
Rebag’s other retail partners
In its December 2023 Clair Report, Rebag analyzed tens of millions of information points on luxury resale transactions, revealing “quiet luxury” as the important thing trend. Brands like The Row, Loewe, and Bottega Veneta showed strong value retention, while Telfar, the highest performer in 2022, continued to excel with a 228% average value retention.
Alongside Bloomingdale’s, Rebag partners with Moda Operandi and ThredUp. ThredUp ranks No. 591 on Digital Commerce 360’s Top 1000 list. It operates as a web based consignment and thrift store where users should buy and sell high-quality secondhand clothes.
In November, Rebag and ThredUp unveiled a brand new collaboration allowing customers to resell their items on ThredUp for Rebag credit and shop a choice of Rebag’s inventory directly on ThredUp’s site.
Earlier this 12 months, Rebag also launched a membership program offering perks like as much as 10% off, free shipping, and free returns. Rebag+ members pay $50 a month or a one-time fee of $500, which converts into store credit. If members don’t hit the $500 mark or resolve to cancel, the fees are refundable.
On a broader scale, the secondhand clothing market is booming as consumers search for savings and sustainability. ThredUp’s 2024 Resale Report shows U.S. apparel resale grew seven times faster than the general apparel market in 2023. That’s driven largely by online resale, which saw 23% year-over-year growth. And ThredUp predicts that by 2028, online sales will represent half of all secondhand spending. ThredUp also predicts U.S. online resale reaching $40 billion in 2027.
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