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Unlike conventional retail, where stock is predictable and replenished regularly, thrift stores and resale platforms offer the sense of adventure and unpredictability. As a result, consumers are turning and looking to second-hand shopping as a more sustainable alternative to fastfashion. million in 2023 to an estimated $1,598.37
Where fastfashion has been such a ‘go-to’ for ‘treat yourself’ spending, the longevity of such pieces weighs on spenders today. Therefore, instead of spending in volume at lower cost with fastfashion, people are looking to timelessness, rarity and longevity.”.
Some of our prints sell in the second-hand market for higher than the original retailprice, so customers are making an investment. I know that you work hard, particularly through Australian Fashion Week, which must be a crazy time as you get things prepared for the runway. They’re collectible.
Hear the phrase ‘fashion waste’ and most people immediately associate it with the fast-fashion industry producing products with short lifespans, ultimately destined for landfills. The retailer doesn’t sit on stock,” added Dean. There’s no rush for them to always get rid of any markdowns.
So, if a retailer is wondering why consumers and investors are pulling away, it’s because they are still using a traditional approach in a modern world. How do retailers get into this mess? Whether it’s fastfashion or high-end brands, at the end of the day, the goal of a business is to maximize shareholder value.
So, if a retailer is wondering why consumers and investors are pulling away, it’s because they are still using a traditional approach in a modern world. How do retailers get into this mess? Whether it’s fastfashion or high-end brands, at the end of the day, the goal of a business is to maximize shareholder value.
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