Apparel Resale Goes Mainstream
Recommerce and thrift shopping are going mainstream as consumers increasingly seek out value (both economic and ethics-based), clothing that expresses individuality and that is Instagrammable. Consumers are on both sides of the transaction, donating and consigning as well as purchasing. The desire to simplify and de-clutter is contributing to these forms of commerce.
- To reduce the environmental impact of fast fashion on the globe, many consumers are opting for circularity and reduced waste. This eco-mindfulness leads to consumers feeling good about their purchase decisions.
- Sustainable fashion, ethically produced, designed and ultimately repaired and/or resold is changing the purchase consideration set. Buy better (quality), keep longer and put back into circulation via consigning or donating for others to use. Product lifetime value can increase.
- Rcommerce is providing consumers the choice of lightly used authenticated designer merchandise at about 80% off the retail full price, attracting first-time luxury shoppers.
- In tandem with the success of off-price retailers, recommerce is growing more rapidly than retail overall as consumers seek sharp pricing and a treasure hunt experience.