Today in Retail: Resale Platforms Tout Immunity From Supply Chain; Macy’s Boosts Pay Amid Labor Shortage  

In today’s top retail news, The RealReal and thredUP see an opportunity to capture consumers as rivals struggle with their supply chains, while brands are set to capitalize on virtual sales as the metaverse goes mainstream. Also, Macy’s is taking steps to attract new employees with higher wages and education benefits, and Primark is looking to massively increase its U.S. footprint.

Resale Marketplaces See ‘Compelling Opportunity’ as Others Struggle With Supply Chain

Secondhand marketplaces thredUP and The RealReal say they have been immune thus far from the higher prices and tangled supply chains plaguing many other retailers and brands heading into the holiday shopping season, though shipping costs and staffing levels remain a challenge. In the third quarter, thredUP recorded revenue of $63.3 million, up 35% year over year; The RealReal said its revenue reached $119 million in the three months that ended Sept. 30, an increase of 53%.

Brands Prepare to Take Competition Virtual as Metaverse Goes Mainstream 

Though some consumers are still getting acquainted with what the metaverse is, brands and retailers have been working on plans to sell merchandise within virtual worlds for some time. Last week, for example, PYMNTS reported that Nike has filed several intent-to-use applications with the U.S. Patent and Trademark Office, and Gucci and Balenciaga are among the luxury brands already hawking items in Roblox.

Macy’s Boosts Minimum Wage Amid Labor Shortage

Macy’s will raise its minimum wage for employees to $15 per hour as part of a corporate benefits package that will also include debt-free tuition and pay increases for employees at all levels of the company. The debt-free education program will launch in February, with about $35 million doled out to U.S.-based salaried and hourly employees over the next four years to cover all tuition, books and fees for high school completion, college prep classes, English language learning programs, associate and bachelor’s degrees, bootcamps and professional certificates.

Primark Aims to Quadruple US Store Count

Discount clothing retailer Primark plans to increase the number of U.S. locations from 13 to 60 within the next five years, a rapid expansion as the company aims to grow its portfolio globally to 530 storefronts. Primark has no eCommerce presence, though its website showcases collections and locally available products to consumers before they make a trip to the store.