The Rise of Resale - The Afterlife Is Luxury
How to follow the trend and be sustainably conscious?
Consumer views on ownership are changing – the closet of the future is about rotation, not accumulation. Research shows that younger consumers are driven by two key priorities: to be seen in new styles constantly and to be sustainably conscious. So there is much to celebrate in the phenomenal rise of the resale clothing market which offers variety, value, and sustainability. Changing attitudes towards ownership is propelling this $24B industry to exponential growth even as traditional retail sags.
All levels from the luxury shopper to the mass market shopper are also buying secondhand, and the number of women who express willingness to do so has doubled. ThredUp, the online consignment shop, recently created a number of new platforms to encourage partnerships with both brands and retailers. In a totally new concept, both Macys and JCP will open in-store ThredUp shops. Stella McCartney has teamed up with The RealReal - -she has purchased a share in the company and also offers a $100 gift certificate to those who consign her clothing there. She has said that some houses are afraid of resale but she is not, after all ‘the afterlife is the luxury’.
More related articles: Farfetch's next move? testing the resale market, Retail at risk: analysts cite resale revolution, Retail at risk: analysts cite resale revolution, Retail's latest disruptor: the resale industry.
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