Industry News - Interesting Articles (will open in a new window)
Forbes - Used Clothing Resale Is A Rising Opportunity For Retailers Large And Small - March 30, 2020 - How to attract buyers into stores is an age-old retail challenge. The answer for many years was the loss leader, where stores took a small financial hit on one item with the hope that shoppers would also stick around and buy other items. More recently, brand partnerships have emerged, where retailers work closely with designers and popular brands to create limited edition lines only available in select outlets. Today, the trend is incorporating used clothing alongside new.
MSNBC - Resale market expected to be valued at $64 billion in 5 years, as used clothing takes over closets June 20, 2020 - Despite the coronavirus pandemic upending much of the retail industry and putting a damper on apparel sales, the secondhand clothing market is expected to boom, according to one online resale marketplace. The secondhand apparel market is valued at about $28 billion today and is forecast to reach $64 billion within five years, ThredUp said in its annual report, which is completed in a partnership with the third-party research firm GlobalData Retail.
Business Insider - Teens are embracing thrift stores, and it could be a wakeup call for retailers like TJ Maxx and Macy's October 06, 2020- Teens are embracing secondhand clothing. According to the latest version of Piper Sandler's semiannual "Taking Stock With Teens" survey, young Americans are buying more from thrift stores and secondhand marketplaces like Depop, Poshmark, The RealReal, Tradesy, ThredUp, and Mercari than they have in the past.