The hordes of bargain hunters that frequent Goodwill stores will now have access to some severe internet treasure-seeking.
The 120-year-old non-profit Goodwill Industries International Inc., which runs 3,300 stores across the United States and Canada, has just started a new initiative called GoodwillFinds, which includes an online store.
Until this point, Goodwill had no coordinated internet operation; each store used third-party websites like eBay and Amazon to sell some of its goods.
The venture will support its community-based programs in the US that offer job placement, professional training, and mentoring for young people.
Along with expanding its consumer base, it should also raise donations.
According to Matthew Kaness, CEO of Goodwill Finds, the website Goodwill finds opened on Tuesday with about 100,000 online items, and a lot more will be added.
Shoppers can use the search capabilities on Goodwillfinds.com to explore by category, and soon the website will be able to adapt based on previous purchases made by the user.
Customers cannot donate over the website, unlike competitors Thredup and Poshmark, and must instead visit a nearby Goodwill store to drop them off.
According to a report by research firm GlobalData for Thredup, the second-hand clothes industry is anticipated to develop 16 times faster than the retail apparel market by 2026.
Additionally, it’s taking place at a time when rising inflation is encouraging consumers to be more frugal.
According to the organization, Goodwill received more than $5.4 billion in retail income in 2021.
A group of Goodwill affiliates from throughout the nation, notably Evergreen Goodwill of Northwest Washington, had the idea for GoodwillFinds because they wanted to maximize the organization’s potential.
According to Daryl Campbell, CEO of Evergreen Goodwill of Northwest Washington, the consolidated online strategy should cause revenue for his consortium of 24 stores in his region to quadruple from the $24 million it generated last year within the next five years.
In the following years, he also believes he will be able to increase the internet component of his consortium’s revenues by twofold, to 32%.