Goodwill Industries International Inc., a 120-year-old nonprofit that operates 3,300 stores in the US and Canada, has launched an online venture called GoodwillFinds.
Jeff Chiu / AP
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Jeff Chiu / AP
Goodwill Industries International Inc., a 120-year-old nonprofit that operates 3,300 stores in the US and Canada, has launched an online venture called GoodwillFinds.
Jeff Chiu / AP
NEW YORK – Savers flocking to Goodwill stores will now also be able to do some online treasure hunting.
Goodwill Industries International Inc., a 120-year-old nonprofit that operates 3,300 stores in the United States and Canada, has launched its online business as part of a newly formed joint venture called GoodwillFinds. To date, Goodwill has no centralized online business, with each store selling some of its donations online through third-party sites like eBay and Amazon.
The joint venture will help fund community-based programs across the United States, providing professional training, employment placement, and mentoring for youth. It will also increase donations, while helping to expand its customer base.
Goodwillfinds launched Tuesday with around 100,000 items available online and more to be added Matthew Kaness, CEO of Goodwill Finds said. Goodwillfinds.com has search engines that allow shoppers to browse by category, and it will eventually be able to personalize the site based on a customer’s past purchases. Unlike competitors like Thredup and Poshmark, customers cannot use the site to donate and still have to visit their local Goodwill store to make a purchase.
The move comes as the second-hand clothing business is expected to grow 16 times faster than the broader retail clothing sector by 2026, according to a report by research firm GlobalData for Thredup. . It also comes at a time when rising inflation is prompting shoppers to save more.
“Our new social enterprise makes it easier for consumers to shop sustainably online, while enhancing the savings experience they love at Goodwill,” says Kaness.
In 2021, retail revenue from donations to Goodwill is more than $5.4 billion, the organization said.
The vision for GoodwillFinds comes from a collection of Goodwill members around the country, including Evergreen Goodwill of Northwest Washington, who want to tap into the organization’s full potential.
Daryl Campbell, CEO of Northwest Washington’s Evergreen Goodwill, said he expects revenue for the 24-store conglomerate in his area to double the $24 million it has already hit. last year over the next 5 years due to a centralized online approach. He also predicts that he will be able to double his online business to 32% of the group’s revenue in the next few years.
