What is the backstory to the Galaxy platform?
Galaxy started with us as long-time buyers of secondhand and vintage. We were talking to friends who were selling vintage or second-hand on other platforms, and were semi-successful, but we found that nowhere in the process did their customers have a chance to really connect or grow any affinity to the seller.
On most resell platforms, there's no chance for buyers to understand what the seller's ‘brand’ is – their curation, perspective and styling – which are things that, in some cases, are as important as the actual product you buy. So, a lot of these merchants have headed over to Instagram or TikTok or YouTube to try and build a community or reach there. On top of that, merchants’ livelihoods and their businesses are really beholden to changes in such sites' search algorithms.
Who is Galaxy targeting as sellers – as well as also shoppers?
In our view, vintage and secondhand fashion is being driven primarily by Generation Z. They’re buying, selling and trading an array of vintage and secondhand items just like they would stocks. Gen Z regard secondhand fashion as sustainable; it’s cost-conscious and also a source of unique items. This is driving the biggest shift in consumer spending in a generation: the desire to buy secondhand fashion over fast fashion.
Galaxy's commitment to our sellers – known as merchants and most of who are under-25 – runs deep. We don't take any fees for sales and instead will focus on a subscription business model, which better aligns to these merchants. In turn, Galaxy merchants use a live video format to sell, and we give them tools to connect with their community. That way, they understand who their top buyers and true fans are, and how to deepen those relationships.
