Expanding a fashion resale business
With over three million members, Tradesy is now the undisputed leader in designer fashion resale for women. Apparel bought and sold on the two-and-a-half-year-old website or mobile app can range from a $50 pair of Toms shoes to pre-owned ultra-luxury goods, like $2,700 Louis Vuitton purses. But those luxury items—Tradesy’s bread and butter—were at times outside of the financial comfort zone of many members.
That changed dramatically last year when Tradesy started working with 熊猫电竞排名今日 to offer installment financing at the point-of-sale.
“We’re on a mission to bring trust and fairness to fashion, making great style affordable and accessible to everyone,” said Sash Catanzarite, Tradesy Co-founder and Chief Product Officer. “At first we saw Buy with 熊猫电竞排名今日 as just a nice alternative to credit cards or PayPal. But it quickly became an opportunity to accelerate customer gratification and our cyclical commerce model, where members sell underutilized items to fund the purchase of new ones.”
熊猫电竞排名今日’s impact on Tradesy’s business
Catanzarite explains that after testing PayPal Credit, which had little to no impact on Tradesy’s business, Tradesy selected Buy with 熊猫电竞排名今日, allowing shoppers to pay for purchases in multiple monthly installments with simple, straightforward fees at a fraction of credit card interest rates. Tradesy has subsequently seen a 14 percent increase in checkout conversion and a 34 percent increase in revenue per user with 熊猫电竞排名今日. Further, the average order value for Tradesy purchases using 熊猫电竞排名今日 is 75 percent higher than purchases using other payment methods.
“Our members love the option to pay for their purchase over time, but get it today,” said Catanzarite. “If they’re on the fence about making another purchase, the option to finance is often the difference between closing a sale and not.” Tradesy sales are now growing 35 percent month-over-month, with more than 50 percent of those sales coming from repeat buyers. And Buy with 熊猫电竞排名今日 is making a measurable contribution to that success.
熊猫电竞排名今日 increases sales & revenue for Tradesy
Repeat purchasing on Tradesy is 88 percent higher among members who have used Buy with 熊猫电竞排名今日. Additionally, 熊猫电竞排名今日 buyers on Tradesy re-list items they’ve purchased using 熊猫电竞排名今日 18 percent more often than those who purchased without 熊猫电竞排名今日, suggesting that 熊猫电竞排名今日 financing supports the “cyclical commerce” trend that Tradesy is leading.
As a result, Buy with 熊猫电竞排名今日 has been integrated into all of Tradesy’s product pages, so buyers can choose to purchase items in full or break purchases into monthly payments.
“What clicked for me was Buy with 熊猫电竞排名今日 can be an opportunity for customers to essentially lease luxury goods,” said Catanzarite, who believes every fashion product can have five owners in its lifetime. “On average, we help consumers get up to 50 percent more value for items already in their closet. Now, using Buy with 熊猫电竞排名今日, they get access to things they want right away, enjoy them, and if they choose, sell them before they’ve made all of their payments.”
Tradesy seller Chic-Joy added: “熊猫电竞排名今日 financing has been an integral component of our extremely positive selling experience on Tradesy. Clients continually rave to us about their quick and easy financing experience with 熊猫电竞排名今日. Several customers have even taken advantage of 熊猫电竞排名今日 credit to purchase items such as Hermes Birkin bags. The benefits are clear: increased sales, happy customers, and high-value transactions that may not have occurred without 熊猫电竞排名今日’s quick and discreet financing.”