What is Happening?
Second-hand apparel sales has been embraced by younger consumers and is now becoming hard to ignore for retailers.
In five years times, used apparel sales are projected to reach $77 billion, outpacing the wider market 11x.
For now, the logistics of apparel resale is the most challenging aspect. Most retailers to say that partnership with a used-clothing purveyor is their best way to get into the resale market. While 28% of brands are building their own programs.
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What Does it Mean?
Consumers are refreshing their closets and turning to resale as a way to sustainably discard garments and acquire new ones. Retailers are already realising this and investing in resale programs and infrastructure.
👟 Using the latest data,shoemaker Nike is the most listed brand on online marketplaces. Nike is therefore not only currently the most valuable clothing brand in the world, but also the one with the largest second-hand market share.