Female Media Opps: ThredUp experiences rise in sales amid rise in thrifting
As thrifting becomes more and more popular, secondhand clothing platforms like ThredUP do the same. in fact, ThredUp's Q3 sales reportedly reached a record $63.3m. The company's active buyer count grew 14% to 1.4m, and its order hit number grew 28% to 1.3m.
ThredUp has been focusing on resale-as-a-service programs for existing companies. It already has such a program with Madewell, and it recently started new programs with Adidas, Michael Stars and, the most recently, Crocs.
According to iSpot, ThredUp has spent approximately $1.6m on national TV commercials YTD, down 45% from the approximately $2.9m it spent within the same 2020 timeframe. The company ended up spending approximately $2.9m on this channel last year, less than half of the approximately $7m it spent in 2019. ThredUp's 2021 commercials have targeted relatively younger audiences watching shows such as Return to Vancouver, Dateline, The First 48, NFL Football and CNN Newsroom Live.
Since the beginning of 2021, Pathmatics reports the company has allocated roughly $30.1m toward digital ads, already more than the roughly $13.3m it allocated in all of 2020. ThredUp's approximate full-year 2020 spend ($13.3m) reached nearly double that of $7.7m in 2019. The company has earned around 2.4b digital impressions YTD via desktop video (46%), Facebook (39%) and Instagram (15%) ads. Most of this year's desktop video ads have been placed site direct onto destinations such as msn.com, refinery29.com, weather.com, cnn.com, mentalfloss.com and nypost.com.
Additionally, Magellan shows ThredUp has aired 541 podcast ads within the past 12 months.
ThredUp's primary target audience consists of Gen-Z and millennial (18-29) women, and its secondary audience consists of Gen-X (30-44) men. Per Kantar data, the company also invests in print (national newspapers), OOH and local broadcast. Sellers able to offer relevant ad space should get in touch.
Agency & martech readers - You may be able to secure project-based work down the road; keep ThredUp on your radar.