For those who may have been sleeping on Rebag’s role in resale, wake up.
The new funding will largely go toward growth — both online and off. Rebag already has nine store locations where consumers can enter with an item to resell, have it appraised, priced and purchased from them within 60 minutes, and there are plans for more stores in untapped markets. What that 60-minute seller convenience has brought is supply, which the secondhand market could be short of if sourcing can’t keep up with demand.
Part of Rebag’s growth plan will be to capitalize on mindshare, which the company has yet to claim enough of. That’s partly because at the premium level where it sits, with a roughly $2,000 average order value , some consumers are priced out. But it’s also because there’s just room to reach more people.
With Clair Trade, users can buy and sell items in the same transaction , and just pay for any difference.Endeavoring to maintain what it sees as its “edge” when it comes to innovating the resale space, Rebag released its first Clair report in October, which tracks shifts in luxury resale and doles out info to those interested about pricing trends, brand rankings and what products are retaining their brand value.
“Imagine now you go to a store…I download the app, I have the Clair scanner. Now let’s say I go to a store and they have two items that are both selling for $1,000 and I like them more or less equally. Now what can I do? I can scan each of them. One of them resells for $300, the other resells for $600. I’m smart, I want to make [the right decision, so I’d say], ‘oh you know what, I kind of like them the same, I’m going to go for the one that resells for $600,’” Gorra said.
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