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You can now sell them clothes ?
Just dropped in a jacket for a brand I know well, retail around £100, second hand, I believe I could get comfortably £50. Magpie will pay around £3.
Do the Maths and those are some serious margins, but one would question if anyone is really daft enough to sell a product for £3, which they can list and sell on Ebay for £50.
I can see the thinking behind expanding into clothing category given the rampant success of Vinted and the like. However the execution here is terrible. The categories are so generic to be almost worthless. How can you categorise items just as 'nike jumper' when there are hundreds or thousands of different styles, colours. Some limited, some mass produced.
I would think this may suit people clearing out a loft or some such but given one can only sell branded items, and not just clear out any old clothes, why would you go to the trouble for such a low return when you can list on Vinted for the same effort and get a much higher price?
I have just tried to sell a Lacoste item. No doubt their most famous item is a polo shirt. No option to sell a Lacoste polo shirt, just 'shirt'. And even then I am only offered £2!
I'm afraid to say another example of misguided thinking that shrouds MM.
I have just done a dummy sell for my Barbour jacket which is in as new condition as I have only worn it once. Brand new it was £300 , and music magpie are offering me £5. I think I prefer to keep it lol
Dhton
You are clearly as incompetent as you are transparent
Mens Polo Shirt comes up as an option for me
MM will have done their research and I am sure they will learn a lot about their pricing as part of the launch.
If you think you can sell your clothes for lots more on eBay, good luck to you.
My daughter uses Vinted regularly and I can assure you that most purchases and sales are sub £5.
As ever, comments on here are from the haters who have no interest in the success of MMaG.
Many laughed when MMaG offered to buy CDs for 10p to £1
Many thought an App to get food delivered from your local Chinese was a flash in the pan and unlikely to take off...
Let's not rush to assess the success or otherwise that MmAg have in a new product area. I for one applaud them for the bold and interesting move.
It all depends on what you are selling!!
If it is fast fashion asos, boohoo, misguided et al then it does sell for pennies on Vinted because it is a low retail price and almost throwaway clothing. But quality products like Barbour, Lacoste and others similar all hold a reasonable second hand price far beyond what MM is offering.
You are right they do offer Lacoste polos, I did miss them yesterday (my incompetence!!) but they are offering £1.32 for one in good condition as most worn items will be in. A quick scour across Ebay and Vinted shows prices of £15-£25 without any trouble. If there was £2-£3 difference between MM offer and Vinted then it's easy to take the hit due to convenience but £13 is a lot esp. when likely to be people selling multiple items. It is far too big a gulf to be acceptable.
I genuinely applaud the move into new categories, it is something that has been on the agenda at the top table for a long time now and it is long overdue. And maybe it will prove to be a masterstroke. But the pricing offers feel very very low particularly when there are wildly popular free to use alternatives already well established in the market. Without any attacks or emotional response Hedge, can you recognise that very legitimate piece of feedback?
Have to agree the price points are way too low considering the ease of already established alternatives.
What a nightmare in terms of counterfeit detection, cleaning, photographing and storing. Unlike phones where there are only so many models, with clothing each item will be unique in some way, whether its colour design or condition, it will all have to be photographed. Think of the logistics of warehousing all these unique SKUs. Then after resale there's the hassle of returns, a notorious overhead and by far the biggest challenge for online clothes retailers. There's a good reason why even the likes of Asos with the natural scalability that comes with new product lines has been loss making for years.
What a nightmare in terms of counterfeit detection, cleaning, photographing and storing - so the same as they need to do with current products.....I think clothing is actually easier to assess.
You've not understood my post, the point about returns or the practicalities of online retail. The bulk of their sales currently are phones. Last I checked those didn't need to be laundered. Think about the finite number of phone models there are. A library photo of an iPhone 13 represents them all. Now think about the unlimited scale of clothing and apply that to number of of SKUs requiring management.
In 2020 I looked at the clothing game. If you go high end designer route it's big. Vesitaire collective are obviously the Backmarket of that space but plenty of longtime success businesses like Pandora's in Knightsbridge do very well. Again, lifestyle businesses.
Needs to be high end fashion since many well known brands simply license their brand and companies go off creating their own clothing with the brandowners permission to use their logo. So needs to be Vuitton, Chanel, Burberry and all that.
This guy buying in might be the start of MBO ... see if we get a few more high net worth chucking some money in to get a healthy consortium percentage...