Luxury reCommerce retailer The RealReal spied a growing market and launched two years later in 2011, as did the more accessible and social media-based DePop. In fact, the rise of the now-major players in the fashion reCommerce industry began all the way back in 2009, when retailers like ThredUp, Vestiaire Collective, and Tradesy launched their brands. Secondhand fashion eCommerce stores had also been estimated to grow 69% between 20 – long before shoppers started actively seeking more affordable options from home whilst quarantining. In 2019, resale was already growing 25% faster than the broad retail sector, and according to a report issued by First Research, around 20,000 used merchandise stores were generating $17.5 billion in annual sales across America. In conjunction with that increase, department store sales declined by 25% and history looks to be on track to repeat itself.
Resale sites are coming out big winners as the pandemic plunges the economy.” Business of Fashionįrom 2008 to 2016, post-Great Recession, resale revenue in the United States increased by more than 50%. Now, this growth may very well accelerate. “Before the pandemic hit, the resale market was on track to double.
#LATALE FASHION SHOP RESELL OFFLINE#
Up from $7 billion in 2019 to an estimated $36 billion by 2024 with a forecasted 39% annual growth rate, the online and offline resale industry has a new lease of life in its quest to remain an affordable, sustainable way to keep up with fashion. Consumers are increasingly searching for economical, sustainable methods of buying or owning new clothes instead of buying brand new.Īs the fashion world moves toward a more sustainable model and post-pandemic spending preferences force brands to be more accountable, resale is a fashion eCommerce trend experiencing a rebirth. What is reCommerce? ReCommerce, or reverse commerce, is the process of renting, reselling, or thrifting previously owned apparel through online or offline stores. With more change occurring than that of a fashion retailer’s fitting rooms, we decided to get ahead and compile the 9 eCommerce fashion trends that are worth styling your eCommerce store around in 2022. The glossy fashion events that the industry has become synonymous with are going too, replaced instead by a growing market for seasonless items as consumers look to make the most out of each purchase. Sustainable, yet affordable clothing is on the rise, and the reCommerce industry is booming with grounds to flourish further in the wake of global economic changes. However, the year ahead may bring about the industry’s most drastic transformation yet.Īs consumers and fashion retailers navigate the aftermath of the COVID-19 pandemic, there are new looks for the industry to try on. Change is a key part of the fashion industry’s identity, occurring at almost every seasonal fashion show year on year. The fashion eCommerce industry is an industry that has always proudly worn change like a model would wear Prada.
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