Twig Can Change Your Closet into a Bank Account

Dear parents and grandparents, we love used clothing more than new

If you read our article “Is Donation the Right Choice?”, you start to understand where our donations end up. Our goal is to buy less clothing and wear it for a longer time. And for what we no longer need we find someone who needs it instead of throwing it away or bringing the pile of clothing to the donation center. 

We know our generation values sustainability and creativity. Amazingly, according to eBay’s latest survey,  80% of Gen Z, born between 1997 and 2012, bought second-hand goods, while nearly 1-in-3 began selling them in the last year. It turned out that users aged 18-24 have the highest percentage of second-hand items in their wardrobe. My closet is the same way. 

We even prefer thrift-related items for holiday gifts. Such as gift cards for online thrift stores. Because they have items which are unique, sustainable and reasonable. 

I know online thrift stores like Poshmark and ThredUP are very popular in the US. On these sites you sell an item and wait for days or weeks until you finish the process of selling and get paid. It takes time and energy to sell on these websites.  But what if you could cut time and energy and turn your second hand clothing into money right away? It sounds like a dream but it exists. 

Twig, a London-based fintech can turn your used items into cash immediately. Imagine you post the clothing or electronics you don’t need on the Twig app and immediately they will give you a rapid valuation for the item and you can cash-out any amount you want. Just like your closet turning into your bank account. You can get a free Twig Visa Debit card that you can use and you can track and manage your cash with the Twig app. 

This is a revolutionary system. For now, Twig accounts are only available in the U.K but hopefully will expand to the US and Europe in the future. 

The EPA reports that Americans generate 16 million tons of textile waste per year. If we can sell our used items immediately and use the money to buy what we need, it will change the way we look at our belongings and what we buy. People might start to buy well-made clothing instead of fast fashion and wear items for a longer time and sell them for a good price when they no longer need them. If everyone can do that then that could help create the ideal circular economy.