Goodwill Hunting #05: curation is the future of (re)commerce

curated pre-loved fashion finds from across the web

Doc Martens boots ($175) | Proenza Schouler bag ($288) | AREA dress ($729)

I believe that curation is the future of (re)commerce.

Curators filter signal from noise in an increasingly noisy world. As the barriers to being a creator decrease, the internet gets even noisier and the need for credible curators increases. Algorithms will continue to play a role in aggregation, indexing, and personalization. But the best curation requires a human touch. You’re more likely to have an ohh I love that moment from something your BFF shared on Instagram because they know the real, whole you vs. an algorithm’s recommendation.

Goodwill Hunting is a teeny-tiny step towards curation. It focuses on pre-loved fashion because shopping consciously should be easy, social, and fun.

Yet, searching, scrolling, filtering, saving across fragmented resale sites is none of those things. ThredUP adds 40,000 new items to their online thrift store every day. Vestiaire Collective adds 25,000. Brick-and-mortar thrift stores like Goodwill add 100,000s.

How do we sort through the noise (garbage) to find the signal (gems)?

On a recent Business of Fashion podcast, futurists Martin Raymond and Christopher Sanderson called this moment in history the “Age of Acceleration.” We all feel it. We are experiencing fast-paced change at a scale never seen before across all facets of our lives, including commerce. The futurists explain:

“The power dynamic between brands and consumers has shifted. We work in communities of mutual ambition, where brand and customer become co-creators, co-curators, co-sellers, and partners in the business’s future success.”

The next-gen consumer keeps up with the relentless pace of change because they are co-investors in the future. They are more diverse, more entrepreneurial, more sustainability-minded, and more immersed in internet culture. 50% of Millennials have a side hustle. 80% of Gen Zs want to be their own boss and 50% want to start their own business. The promise of Web3 is that we can be rewarded for our contributions and expertise. As Kirsten Green of Forefunner Ventures said:

“The next evolution in commerce starts with the seller. Users are willing to pay for access, service, and expertise, and the emergence of Web3 is set to enable more value exchange and efficient payment, only increasing the potential for consumers to monetize…Commerce is coming full circle, back to one-on-one connections.”

Goodwill Hunting is curation-as-a-service—but make it (resale) fashion.

♻️ 3 products

1. Doc Martens holographic boots, size women’s 8 from eBay ($175). Get 5% off with code VINTAGE222.

2. Proenza Schouler crossbody metallic bag from 1stDibs ($288)

3. AREA lamé iridescent mini dress, size S from Vestiaire Collective ($729)

📕 3 reads

1. Inventing Anna and ‘fake it till you make it’ fashion (Financial Times). The costume designer for Netflix’s new show Inventing Anna tracked down outfits Anna Sorokin (“Anna Delvey”) wore on Instagram. Netflix archived the most quintessential looks from the show, but is selling the rest on The RealReal.

2. How to Revamp Your Wardrobe Without Buying Anything ‘New’ (Wall Street Journal). 80% of U.S. consumers plan to refresh their wardrobes during the pandemic. We’re all sick of wearing the same stuff for the last 2 years. Refreshing our closets doesn’t mean we need to buy new though.

3. Building trust in luxury and sneaker resale (Vogue Business). The general manager of authentication at Ebay explains the company’s push into luxury and sneaker resale. Introducing the Ebay “Authenticity Guarantee” for high-value handbags, jewelry, and sneakers resulted in double-digit growth in these categories.

✨ 3 jobs

1. Reflaunt — Head of Operations (acting COO). Reflaunt is a resale-as-a-service (RaaS) company that partners with luxury brands and retailers (e.g., Balenciaga, Net-A-Porter) to reclaim resale channels. This role reports to the CEO and will lead operational strategy and vision.

2. Luxclusif — Partnerships Lead. Luxclusif is another RaaS tech company that Farfetch recently acquired. This role leads the pre-owned luxury Buyback business unit, which offers resale solutions to brands and retailers to enable their customers to sell items back to them for credit or cash.

3. World Economic Forum — Circular Economy Innovation Lead. The World Economic Forum is the leading NGO for public-private cooperation. This role leads public-private partnerships focused on accelerating the transition to the circular economy.

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Disclaimer: My posts are my own and do not reflect the opinions of my current, past, or future employers. Goodwill Hunting is not affiliated with Goodwill Industries or the film Good Will Hunting.