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Study: Resale to Hit $47B by 2025, Giving Fast Fashion a Run for its Money

Retail TouchPoints

Resale — the segment of the secondhand market that ThredUP defines as offerings with more curated assortments — is expected to account for more than half of that total, $47 billion , by 2025. Perhaps more important is the fact that of those first-time buyers, 76% said they plan to increase their spend on secondhand in the next five years.

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U.S. Apparel Resale to Double in Next Five Years, Fueled by Retailers and Brands

Retail TouchPoints

A whopping 81% of first-time thrifters said they plan to spend the same amount or more on secondhand in the next five years. At the same time, the rental and fast fashion sectors are expected to remain relatively flat, and department stores, value chains and mid-priced specialty retail will lose ground.

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How the Fashion Industry Can Pave the Way for a Sustainable Future

Retail TouchPoints

In recent decades, fast fashion became incredibly popular due to its cost efficiency, both for manufacturers and consumers. Having these contingencies in place keeps organizations within the supply chain transparent and accountable while encouraging them to make greater environmental efforts in the future.

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H&M to Shutter 250 Stores in 2021

Retail TouchPoints

Fast-fashion retailer H& M announced plans to close approximately 250 stores next year as it seeks to step up the pace of its transformation via digital investments, store portfolio optimization and increasingly integrated channels. H&M has not yet identified which stores will be shuttered.

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3 Ways Fashion Brands can Move Toward Sustainable Business Models

Retail TouchPoints

Consumers are also pushing for brands to step away from “fast fashion” trends and promote sustainability in both product development and manufacturing, making efforts to reduce or offset their carbon footprints. Fashion, style and clothing have always been about innovation and imagination. Green goals are a moving target.

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In The Style rescued from administration

Retail Gazette

UK-based fast fashion retailer In The Style is understood to have been bought out of administration. Accounting firm FTS Recovery was taken on as administrator of the struggling fashion brand on 10 March. However, the fashion retailer has struggled in recent years.

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Last Call for Sustainability: Imperatives for Change in the Retail and CPG Industry

Retail TouchPoints

Global emissions from transportation account for approximately 16%, and plastics 4%, of total greenhouse gas emissions. These struggles to improve manufacturing processes are most visible in the textiles industry given the “fast fashion” trend — rapidly producing large volumes of inexpensive garments designed to capitalize on style trends.