Croissant has launched an iOS mobile app that shows consumers guaranteed resale prices on apparel and accessories while they shop at more than 100 brands and retailers.
After consumers have purchased an item, they can later resell it for the guaranteed price with just a few taps and free shipping, the company said in a Tuesday (July 23) press release.
This “shop now, sell later” experience is now available for use on iPhones, joining Croissant’s existing shopping tools, according to the release.
“According to our research, 75% of U.S. customers want an effortless, transparent way to participate in the resale economy beyond the existing resale marketplaces and consigning options,” Croissant CEO and Co-founder John Howard said in the release. “Croissant’s iOS app ties together all of the pieces needed for a delightful and rewarding resale experience.”
Since the company’s launch in July 2023, Croissant’s existing shopping tools have been used by 26,000 customers, according to the release. The company expects its new mobile app to increase its recent momentum tenfold.
The company’s “shop now, sell later” solution inspires shoppers to buy products today, knowing a guaranteed price at which they’ll be able to sell it later, the release said.
For brands and retailers, the solution facilitates full-price sales, higher average order values and stronger customer loyalty, per the release.
“A major part of our mission is helping people understand and unlock more of their existing net worth, rather than taking on unnecessary consumer debt while shopping,” Howard said in the release. “And with more spending power comes greater economic activity, which is why our partner retailers are experiencing such significant revenue gains.”
When announcing its launch with $24 million in funding in July 2023, Croissant said its solution was developed “partially in response to consumer debt-focused options” and is designed to amplify users’ purchasing power while helping businesses improve conversion and customer retention.
“When users later elect to sell, Croissant deploys its exclusive multiple listing technology to handle the tedious resale process within the existing secondhand ecosystem with no involvement required from merchants or customers,” the company said in a press release.
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