Fashion Resale Market Gets Holiday Boost
Holiday resale opportunities are amplifying the already-lucrative thrifting market, with fashion consignment service ThredUp reporting a 34% increase in product arrivals between November 2016 and January 2017– likely due to unwanted Holiday gifts.
More than two million items were sent to the brand from its sellers during the 2016 Holiday season – 200,000 of which still had their tags on. Popular ‘return’ items included designer denim, North Face outerwear and fast-fashion pieces from brands like Missguided – while ‘simple styles’ were resold the least.
The surge in Holiday-focused resale goes hand in hand with a widespread consumer push for more resourceful fashion consumption – a key driver for Gen Z. Bolstered by cool recommerce sites like Depop, these consumers are increasingly utilising the new-found ease of resale – with the market forecast to grow by 11% a year, reaching $33bn by 2021.
For more on sustainable retail solutions, see The New Fashion Landscape 2017 Update: Sustainable 360, Retail: Reframing Sustainability and Redefining (Fast) Fashion.