Should I build a 2nd hand clothing marketplace?
Hey guys! I had been looking for an idea for a while, and a couple close friends (fellow programmers) recently approached me with a proposal: building a second hand clothing marketplace.
I was skeptical of the viability of the idea at first, but we discussed a few existing solutions in the market and I noticed two things about them:
- Lots of people are using them and leaving positive reviews (example: Poshmark on the app store: #4 in Shopping 4.7/5, 177.5K Ratings)
- They do not offer as good a solution as they could: the apps currently available mostly look like flawed clones of Instagram
This gives me a positive impression of the idea - there seems to both be a big enough market and room for improvement in the solutions that are currently out there.
And the fact that there are successful solutions in place already validates the existence of the problem, and significant demand for solutions.
We were thinking of starting locally, setting the marketplace up in Portugal, and expanding from there - so we can take it easy with planning the models for shipping, for example, since we more or less already know how things work around here.
What do you guys think about this?
How would you go about doing market validation for this idea?
Do you think it would be too hard to compete with the existing players?
How would you start? Build an MVP, then marketing? What would be the core points you would focus on in this process?
Thank you very much!
I think this would be valuable if you could somehow curate what is being sold. If there's just a bunch of junk being sold there, the magic of finding a great deal at the thrift is absent. Maybe there's a way to capture the magic of pulling that great throwback T-shirt off the rack but virtually.
My wife recently returned from a second hand shop with two or three designer branded garments which she picked up for about $5 each. The quality is 'nearly new', I was so surprised that I thought that there would be a huge market if this could be scaled. I got a pair of jeans and shirt which would be around $70 each if bought new.
I have not bothered looking at apps in this space, but if there was something decent here we would definitely use it. Also it addresses the modern environmental concerns about the fashion industry. The value proposition is clear IMO.
The hard part is going to be getting it off the ground. Where do the other players fail? Is there a niche you can work in? Can you get a prototype together quickly? Is there some angle that would get viral promotion, media coverage etc.
For me, I would want an app where I could put in my size, measurements etc, and then pick styles and looks I like, and then have notifications about potential garments.
All big challenges but I'm sure the market is there. Good luck!
@marcospgp Yes, it's a good idea and, you're right, there is certainly a market for it.
From a business perspective, are you going to be able to get a decent profit margin when you factor in shipping, loss, etc.? Locally-owned second-hand shops seem to thrive because they can keep the overhead very low and folks can check things out in the flesh - there's something about being able to touch/see/try on the actual item that is invigorating to potential customers.
Also, when I was in college, I had a lot of friends that liked the second-hand shops because of the 'treasure hunt' aspect of it - they never knew exactly what they were going to find, so the 'search and surprise' was part of the thrill that made up the shopping experience. How would you be able to replicate something like that with an app?
There is https://www.vinted.com/ (recently became a unicorn)
https://www.depop.com
I think starting locally is smart. However, just developing a solution that "looks better" is not a good enough differentiating factor. It's not going to set you apart from the incumbents and right now, the second-hand market competition is hot and fierce. Instead, try to find a niche that the other incumbents (e.g. Mercari, Poshmark, DEPOP) are leaving behind (e.g. just kids clothes, baby clothes, expecting mothers' clothes, vintage-only, accessories-only)
This comment was deleted a year ago.