This audio is auto-generated. Please let us know if you have feedback.
A group of Goodwill organizations, largely from the Midwest and West, on Tuesday launched an online resale marketplace dubbed GoodwillFinds. Net proceeds from purchases will go to the region where the item was sourced, according to the group’s press release.
GoodwillFinds is operating under license from Goodwill Industries International and joins another Goodwill-affiliated site, ShopGoodwill.com, which was created in 1999 by Goodwill of Orange County. ShopGoodwill didn’t immediately return a request for comment.
The new effort is led by former Modcloth CEO Matthew Kaness, who was briefly at Walmart after the retail giant acquired the online apparel business, and has also held roles at Urban Outfitters and Afterpay, per GoodwillFinds’ release.
The resale market is booming — secondhand apparel alone could top $80 billion in sales by 2026 — and “Goodwill” is one of the most recognizable names in the business.
But while the brand is nationally known, the enterprise is a coalition of organizations that run stores and donation centers and operate largely independently, with a mission of providing work and other assistance to people with disabilities and others in need. GoodwillFinds’ founding board of directors includes Goodwill Industries of Southeastern Wisconsin, Evergreen Goodwill of Northwest Washington, Goodwill of Colorado, Goodwill of Southern California, Goodwill of Central and Southern Indiana, and Goodwill-Easter Seals Minnesota, “with strong support and commitment from a wide array ” of others, per its release.
”Our new social enterprise makes it easier for the conscious consumer to shop sustainably online while heightening the thrifting experience they’ve come to love at Goodwill,” Kaness said in a statement. “I’m confident that this venture will accelerate Goodwill’s mission of transforming lives through the dignity of work, raise awareness of the immense sustainability impact of thrifting at Goodwill, and increase net donations to each Goodwill region. Good for the consumer, good for local communities, good for society and the planet.”
Part of the appeal of resale is its reputation for sustainability, reuse and recycling, all especially important through Gen Z consumers, although the environmental impact of e-commerce is not yet fully understood.
It’s not clear how profitable e-commerce is in resale, however. Secondhand apparel site ThredUp’s resale-as-a-service platform may end up being more profitable than its actual retail business; the company laid off 15% of its corporate workforce after its losses widened in its most recent quarter. Losses have also grown at Poshmark, which on Tuesday announced it is being acquired by South Korean internet giant Naver for $1.2 billion.