SNOBSWAP replaces the corner consignment shop with an online market place that allows fashion lovers to sell their old stuff, trade for new goods, buy new items or a combination of all three. The website boats labels including Chanel and Gucci, Louis Vuitton and Mark Jacobs, Tory Burch and Kate Spade and is aimed at the high-end consumer who appreciates a good deal and may not mind buying a used item to satisfy their consumer need.
Members can search their closet, take picture of what they’d like to swap, post it to the online marketplace and take bids from other customers. Unlike eBay, which hosts everything from garden dresses to garden hoses, SNOBSWAP markets to fashion lovers who want to update their wardrobe, while sending their old pre-loved fashion to a new home. Similar to eBay, customers can make bids on items of interest, and owners have the ability to negotiate with perspective buyers.
I think SNOBSWAP has a great idea, but has a ways to go before effectively capturing market share in the online marketplace arena. Despite distinguishing themselves as a high-end eBay, I think they could do more to find higher-end shoppers who still like to comb the racks for a good deal. Furthermore, I think it could further develop its concept of a social commerce site by partnering with other high end, online retailers like Bag, Borrow or Steal or Rent the Runway to capitalize on the consumers who have become accustomed to renting items in lieu of paying full-price.