XRC Ventures portfolio company Croissant has debuted its official app made for iPhones. The launch marks the industry’s first “shop now, sell later” resale experience for iOS operating system. The new app gives shoppers the ability to purchase products at confirmed resale prices from over 100 leading retailers and brands such as Revolve, Shopbop, Aritzia and more, through its Safari mobile extension. The app also lets users sell their past purchases via an industry-first Gmail syncing capability.
According to Croissant, consumers’ eagerness of the fintech platform’s services yields benefits for retailers as well. Since Croissant’s launch in July 2023, it has reported that affiliate and direct partners like Shopbop, Neiman Marcus and Hatch have witnessed a 50% rise in average order value. Croissant also reported that customers are spending $2,500 on average each year through the platform.
Elaborating on the new launch, XRC Ventures Founder and Managing Director Pano Anthos told Fashion Mannuscript: “Croissant has created a new commerce enablement category called Buy Now, Sell Later, which is going to be bigger than Buy Now, Pay Later for both the consumer and our planet.”
Anthos continued: “Croissant is automating real consumer behavior and providing both economic as well as sustainability benefits. Today, whenever we buy an expensive item — think car or house — we immediately imagine the resale of that product. That process immediately reduces the net cost in our minds — the true out-of-pocket cost. In the consumer world, outside of really expensive purchases, consumers have not had that opportunity. Worse, if they felt a huge desire to buy or re-sell their possessions, they would have to embark on a journey of photography, copywriting and navigating countless websites, hoping to get the best price and sale of their item. Croissant hits both benefits out of the park. It gives the consumer a commitment on the resale of their purchase, effectively reducing the net cost, and streamlines the ‘recycling’ of that product back into the market effortlessly. Consumers save time and money.”
The Croissant iOS app is now available to download on the app store.
