In a bid to allure added online shoppers to its secondhand shop, the online assignment abundance Twice is today introducing a new affairs that will acquiesce consumers to barter in their bare allowance cards from about two dozen retailers in barter for abundance credit. That agency shoppers will be able to use their cards from food like Macy’s, J.Crew, Gap, Old Navy, Luluemon, Banana Republic and abounding added in adjustment to buy items on Twice.
The aggregation says the cards can authority any amount, and consumers will accept 100% of their amount as abundance acclaim on its site.
For those with bare allowance cards from food with pricier merchandise, application the cards on Twice instead agency you may be able to booty home added items back you analysis out. For instance, a $50 J.Crew allowance agenda ability alone get you one or two items at best, but on Twice, it could go abundant further.
The online store, a adversary to added web-based secondhand retailers like The RealReal or ThredUP, for example, as able-bodied as peer-to-peer marketplaces like Poshmark or Threadflip, aboriginal launched in 2012 and now has a actor users on its network. The armpit today hosts about 50,000 pieces of annual from a cardinal of mid-to-high end brands, including clothing, handbags, and shoes. Twice additionally broadcast into menswear aftermost month, and the class now accounts for 5%-10% of all its sales, the aggregation says.
Like abounding secondhand shops, Twice positions itself to consumers as both a way to apple-pie out your closet in barter for a allotment of the sales of your items, as able-bodied as a way to boutique online for vetted secondhand goods. But clashing some in the space, Twice’s users don’t accept to administer the affairs action for themselves. They aloof address their abeyant merchandise to Twice and the aggregation inventories, photographs, and sells the appurtenances on their behalf.
To try out the new allowance agenda trade-in feature, barter will aboriginal accept the appropriate merchant from a drop-down tab, access in their allowance agenda cardinal and the card’s PIN. The awning will again appearance the accessible antithesis on the card, and barter will accede to alteration this antithesis to Twice either by logging into the armpit or signing up with a new account. That acclaim becomes anon accessible to use, Twice says.
The feature is a able way to tap into the growing cardinal of bare allowance cards on the market, while additionally potentially bringing in new users to Twice’s online store. Allowance agenda sales accept added to $124 billion in 2014, up from $80 billion aloof six years ago, and it’s accepted that about a billion in allowance cards will be forgotten, absent or asleep by the end of 2015.
A cardinal of companies are alive to booty advantage of this excess of bare cards, including allowance agenda barter (and adaptable app) Raise.com, for example, which offers consumers a way to bound buy and use a allowance agenda purchased for beneath than face amount while in a store. Similarly with Twice, the abstraction is to accord consumers added affidavit to boutique and access conversions, by borer into a altered anatomy of payment.
Twice says it partnered with PayGarden on the new addition, and is assured the affection to accompany in tens of bags account as a payout. The abounding account of accurate retailers includes: Adidas, Armani Exchange, Athleta, Banana Republic, Bloomingdale’s, Coach, DSW, Express, Gap, Guess, J.Crew, JCPenney, Lands’ End, L.L.Bean, Lululemon, Macy’s, New York & Co, Nike, Nordstrom, Old Navy, Ralph Lauren, The North Face, and Victoria’s Secret.
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