Remove Apparel Remove Consumer Remove Thrift Store
article thumbnail

What Recommerce can Teach Retailers About New Consumer Behaviors and Future-Proofing Sales

Retail TouchPoints

As retailers have struggled to navigate changes in consumer behavior and economic uncertainty brought on by the pandemic, one area has seen continued growth: recommerce. Recommerce checks many boxes for both consumers and businesses. In fact, apparel resale revenues are growing 24 times faster than retail apparel sales. .

Consumer 325
article thumbnail

Secondhand Grew 15X Faster than New Apparel Sales in 2023, but ThredUp CEO Still Sees Ample ‘White Space’

Retail TouchPoints

A few years ago, buying resale online was still something that had to be sold to consumers. But as ThredUp ’s 12th annual Resale Report shows, the need for a hard sell is over — consumers of all ages have clearly bought into the idea, with secondhand apparel sales growing 15X faster than the broader retail clothing sector in 2023.

Apparel 278
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

To Speed Expansion, Resale Marketplace GoodwillFinds adds Walmart, Office Depot Execs to C-Suite

Retail TouchPoints

GoodwillFinds — the new resale marketplace from nonprofit thrift store chain Goodwill — has added two retail veterans to its C-suite and onboarded three new Goodwill member organizations (representing more than 50 retail stores) to the platform. like Air Jordans,” Kaness shared in an interview with Retail TouchPoints. “So

article thumbnail

The rise of second-hand shopping in Australia: A cultural and economic shift

Inside Retail

Once regarded as a have to for those on tight budgets, purchasing pre-loved items has now evolved into a mainstream retail trend, fuelled by a combination of psychological drivers and shifting consumer values. As a result, consumers are turning and looking to second-hand shopping as a more sustainable alternative to fast fashion.

Shopping 130
article thumbnail

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

Retail TouchPoints

While the pandemic had a chilling effect on apparel sales as a whole, the resale sector was blazing hot: it grew 29% in 2020 to capture $9 billion in U.S. Clark isn’t exaggerating: 33 million consumers bought secondhand apparel for the first time in 2020, according to the report. In 2020, 36.2 million.

article thumbnail

Gen Z, in Their Own Words: What They Really Want from Brands and Retailers

Retail TouchPoints

While some brands claim to completely understand what these consumers really want, there are many times when Gen Z shoppers’ thoughts and behaviors don’t quite match up. The day-long event hit on various hot topics closely linked to these digitally native consumers, including authenticity, sustainability, mental health and wellness.

Consumer 328
article thumbnail

ThredUP, Dora Maar Lure Holiday Shoppers to Resale with Exclusive Upcycled Collections

Retail TouchPoints

By all accounts, resale looks set to have a banner holiday season this year, as inflation weighs down consumer spending at the same time that younger consumers in particular increase their focus on cutting waste and shopping sustainably. Kate McGuire in one of her upcycled creations.