Goodwill is making a play for the secondhand market with the launch of a luxury resale platform. In an effort to compete with the likes of Poshmark and The Real Real, the nonprofit organization Goodwill (a.k.a. the OG secondhand store) is making a push into ecommerce with GoodwillFinds, a curated marketplace of donated goods. While many of the items on the platform are the usual finds you’d see on the rack, the organization is also posting high-end scores from Gucci, Prada, Burberry, and more as it aims to tap into the growing luxury resale market. The luxury resale market has been fueled by young consumers, and one major appeal is getting luxury products at a lower price. YPulse’s behavioral data found that 33% of 13-39-year-olds shop for secondhand luxury items, while research from The Real Real found sold out pieces attract 50% more new buyers than regular resale items. Meanwhile, the global luxury resale market reached $33 billion in 2021—and Goodwill is hoping to get a piece of that. (Bloomberg)
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