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Episode Info: From the Simplr studios in San Francisco, this is your weekly briefing.  IntroductionWith your E-Commerce Retail Briefing for today, Monday Tuesday, September 17, 2019, I'm Vincent Phamvan.With the resale industry exploding, some major players are rising to the top. Poshmark, ThredUp, TheRealReal have established themselves as some of the top companies in the market. Poshmark claims to be the number one fashion buying and selling platform, but is their heavy lifting benefitting its competitors?First, here are some retail headlines.Verishop Rolling Out Free One-Day ShippingNew e-commerce platform, Verishop, is keeping stride with major retailers by rolling out free, one-day shipping. The company’s new shipping offer doesn’t require a membership fee or minimum purchase amount. After announcing the news, Verishop’s CEO said he believes fast and free shipping is critical in e-commerce strategies as consumer demand grows. He didn’t offer any specifics on how the three month old company logistically managed to roll out free one-day shipping nationwide, but did say Verishop partnered with both FedEx and UPS.Whole Foods Cutting Health Benefits for Some Part-Time EmployeesStarting January 1st, Amazon-owned Whole Foods will be cutting health benefits for up to 1,900 of its part-time workers. Previously, employees only had to work 20 hours a week to be eligible for health care benefits, but Whole Foods announced employees will now have to work 30 hours to be eligible. A company spokesperson said the change is part of better meeting the needs of the business and creating a more efficient scheduling model. The company also announced that current Team Members who would be affected were being provided with resources to find alternative coverage, or letting them explore health care eligible positions starting at 30 hours a week.Madewell Filing for an IPOJ. Crew’s sub-brand, Madewell, is filing for an IPO. According to the document, Madewell will split from J. Crew as part of its IPO. Details like price range and number of shares have yet to be determined, but according to a press release, proceeds from the IPO will be used to quote, “pay off indebtedness and for general corporate purposes,” end quote.  Poshmark’s Strategies May Benefit Competitors ThredUp and TheRealRealCould Poshmark be helping competing resale companies like The RealReal and ThredUp? The resale industry is exploding, with current projections of the secondhand fashion market hitting $51 billion by 2023 according to ThredUp. The resale segment is also expected to account for 45 percent of secondhand apparel market sales at $23 billion, growing from 25 percent of the total $28 billion in 2019. The current leaders in the industry are TheRealReal, ThredUP, and Poshmark.Industry experts have agreed that one of the most critical components of attracting new customers to the resale market is building awareness of the potential of resale platforms like The RealReal, ThredUp, ...
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