The last year has changed the whole world – including the world of fashion. The global reappraisal of values and the industry led us to think about sustainability and stopped chasing the mass market. Less means more, and quality has triumphed over quantity. In this context, reselling has appeared in a new way, turning from small commissions and individual pages on Instagram into powerful resale platforms, to which consumers have shown increased interest during the lockdown and pandemic. The team of the online platform for the sale and purchase of luxury brands The Originals decided to figure out what caused such an increase in resale.
Business.
According to THRED Up, in 2020 more than 100 million pieces of clothing were sold in resale, 560 thousand of them are second-hand. And the reason for this is not only conscious consumption.
Of course, the fashion industry does a huge amount of damage to the environment: an average of 150 liters of water is used to produce one piece of clothing. But in the light of recent events, the economic component and the global crisis could not but affect the revision of consumer habits. Over 74% of resell buyers cite significant cost savings as the main reason for their purchase.
Trend.
More than half of purchases on resell platforms are made by women aged 25-45, but generation Z has become more active in the last year. Among them, according to various sources, more than 20% have a habit of reselling what is out of use and buying other positions in return. For Generation Z, this behavior is more of a lifestyle that reflects the philosophy of the times: easy come – easy go.
Plus, the digitalization of fashion has grown like never before in recent years. This means that all online formats, which include resale, are already catching up with offline. The effect of gamification is also addictive: when a person signs up on the platform, he starts looking for attractive things for himself with passion and tries to sell his own.
