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ThredUP is teaming up with TikToker Nava Rose to launch the Dump FastFashionShop, an online secondhand storefront to help consumers thrift for Valentine’s Day and beyond. Nava Rose models one of her styles for the Dump FastFashionshop on ThredUP. “I New fastfashion is getting zero of my coin this year!”
And while North America remains the leader, resale is now clearly a global phenomenon: the worldwide secondhand apparel market is expected to grow 127% and hit $218 billion by 2026. “I The “thrifters” cohort is growing steadily, with 41% of consumers now saying that when they shop for apparel, secondhand venues are their first stop.
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.
Shein and Forever 21 are joining forces in a deal that will allow Forever 21 to sell its youth-focused apparel to Shein’s 150 million online users. has accused China of committing genocide and using forced labor in its repression of Muslim Uyghurs.
Urban Outfitters has revamped its secondhand offerings into a new centralized Vintage + Remade hub, featuring a selection of vintage goods curated by the Urban team as well as used apparel that has been repaired and restored.
Fastfashion, or making and selling cheap clothes with a short lifespan, is “highly unsustainable”, the Commission said in July. Only 8 per cent of the donations are currently resold at Moda Re’s second-hand shops, the method widely seen as the more efficient way of reusing old clothes.
We currently live in an era marked by economic uncertainty, environmental consciousness, and a desire for uniqueness, Australians are increasingly embracing second-hand shopping. The hunt for the thrill of it One of the driving appeals of second-hand shopping lies in the exhilaration of the search, the dopamine release gained in the hunt.
This week, France announced legislation to “limit the excesses of ultra-fastfashion”. Traditionally, shopping more sustainably and saving money have been key drivers behind buying secondhand but the research found the cost-of-living crisis has one in 10 Aussies doing it out of necessity.
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. In the U.S. In the U.S.
Fast forward to 2024, it has expanded into apparel while leading the retail industry in sustainability measures. Our brand was established as an act of resistance against the fast-fashion trend. NY: The biggest highlight of 2023 was the launch of our first bricks-and-mortar shop at QV Melbourne.
With the marketplace model now driving Debenhams’ growth, Boohoo hopes this fresh approach can turn around not just Debenhams, but its other brands, including the host of struggling fastfashion brands which once were the group’s driving force Boohoo, PrettyLittleThing, and Boohoo Man.
Online fastfashion retailer SHEIN is hosting the latest in its traveling series of pop-up events at San Francisco’s Embarcadero Center from June 24 to 26, 2022. Shoppers had to sign up for a time slot online prior to the shop’s debut, with slots for all three days quickly selling out.
Last November, international fashion resale platform Vestiare Collective shocked the apparel industry by banning the trade of ‘fast-fashion’ labels. Fastfashion has no value, and even less in resale. Dounia Wone, Vestiaire Collective’s chief impact officer.
Value shopping app Shein is opening up its platform to third-party sellers with the debut of a new global integrated marketplace. This contrasts with fellow China-based discount shopping apps such as Wish and Temu , which use a consumer-to-manufacturer marketplace model. 1 shopping app in America. ”
consumers ( 52% ) shopped secondhand apparel in 2022. In fact, one in three apparel items bought in the last 12 months in the U.S. secondhand apparel market is projected to reach $70 billion by 2027; globally the secondhand market is set to nearly double by 2027, reaching $350 billion. As a result, the U.S. In 2022, U.S.
With Zara-owner Inditex and H&M set to disclose their most recent sales results, investors will be focused on one major question: how are the two fast-fashion pioneers responding to the current market leader, Shein? Shein accounted for nearly one-fifth of the global fast-fashion market in 2022, outpacing Zara and H&M.
Fastfashion juggernaut Shein has confidentially filed to go public, multiple sources report. based Sparc Group , which owns fastfashion rival Forever 21. The only thing that is certain is that nothing is certain in the ongoing, tumultuous saga of Chinese shopping apps in America — just ask former top dog Wish.
billion as it looks to extend its reach both in the apparel sector and with Gen Z consumers. Depop’s peer-to-peer marketplace for secondhand fashion is the 10 th -most-visited shopping site among Gen Z consumers in the U.S., The site is primarily known for its vintage, streetwear and Y2K (late 1990s/early 2000s) fashion.
The second-hand market is projected to grow at a 39 per cent compound annual growth rate from 2019 to 2024 in the United States, reaching $64 billion, and to grow to twice the size of fastfashion on a global basis, Etsy said.
The resale market is growing 11 times faster than traditional retail and is expected to reach $84 billion by 2030, far eclipsing the predicted $40 billion market for fastfashion. . In fact, apparel resale revenues are growing 24 times faster than retail apparel sales. . Understanding the Resale Phenomenon.
A survey by software broker Capterra showed 78 per cent research products on platforms like TikTok before purchasing and 54 per cent have shopped directly through social media apps; however, the Love Song survey by Live Nation found that 83 per cent prioritise real-world experiences over digital ones.
Consumers are also pushing for brands to step away from “fastfashion” trends and promote sustainability in both product development and manufacturing, making efforts to reduce or offset their carbon footprints. One hurdle that many sustainable brands face is that consumers may still shop based on price and convenience.
Fast Retailing, the parent company of Japan apparel retailer Uniqlo , has announced the locations for 11 new stores in the US, on its way to a target of 20 openings in North America this year, which in turn is the first instalment on its plan to reach 200 stores in 2027. The 11 openings so far announced are all in malls.
Walmart continues its mission to elevate its reputation in fashion with its new ThredUP partnership, which gives e-Commerce shoppers access to secondhand merchandise across the full spectrum of prestige — from luxury names such as Chanel and Prada to middle-market Ann Taylor LOFT and Lands’ End to affordable Old Navy and fast-fashion leader H&M.
Brick-and-mortar retail is struggling, and apparel and footwear stores are suffering more than most. Additionally, they have had to contend with the growth of fastfashion and discount retailers like T.J.Maxx and Marshalls. As a rule, large clothing retailers have done quite well at moving to online shopping.
Fast-fashion giant H&M recently unveiled the autumn/winter 2024 collection from its atelier spinoff H&M Studio. The limited-edition fashion drop signals the brand is “returning to its roots and reconnecting with its community through a global ‘re-ignition’,” H&M’s head of design Eliana Masgalo told Vogue Scandinavia.
Accessibility Moved into the Mainstream The fight for inclusion by people with disabilities saw some key victories in 2023, as retailers and brands began to recognize the buying power of this sector: Market Reports World has forecast an annual CAGR of 5.74% for adaptive apparel from now through 2030. In 2023, that’s exactly what they did.
Social media shapes wedding retail Christina Wettstein is the co-founder of bridal retail companies Melange de Blanc and Coterie White and has been in the wedding apparel industry for over 17 years. For some, that will include getting married, and the wedding retail industry is already experiencing a few notable shifts. It has it all.”
Recently, however, something new has begun to drive massive growth in the used goods sector — consumers who are shopping based on their values , in addition to searching for value. Both socially conscious shopping and the resale sector already were on the rise before COVID, but the pandemic gave a boost to both.
A $275 billion dollar windfall In the next three to five years, generative AI could add $150 billion, conservatively, and up to $275 billion to the apparel, fashion, and luxury sectors’ operating profits, according to McKinsey & Co research. It has so far had little experience with generative AI – but that could soon change.
H&M and LVMH target very different sectors of the fashion industry. The former, a fastfashion giant based in Sweden, saw a slump in fourth quarter earnings, with its operating profits falling by 87 per cent year on year, and its net profit declining by about 68 per cent. This, he explained, counts against fastfashion. “In
The rapid rise of fast-fashion e-commerce retailers such as Shein and Temu is upending the global air cargo industry, as they increasingly vie for limited air-cargo space to woo consumers with rapid transit times, more than ten industry sources said. TikTok Shop did not return messages seeking comment. Apple declined to comment.
We predict retailers in the fast-fashionapparel and footwear sectors within consumer discretionary goods could face significant headwinds over the next few months. Many retailers will face liquidity issues as working capital is tied up in inventory. Considerations for retailers.
The teen apparel retailer announced that it will be closing its flagship store in May – the brand’s only store in the country. This included the images on in-store photos, gift cards and shopping bags. A new, brighter store design was introduced and it quit playing loud, thumping music in its shops.
Fastfashion giant Shein will provide a variety of interactive, immersive, and fashion experiences at Ultra Australia music festival in Melbourne on April 13. We strongly believe that fashion and music are both powerful forms of self-expression, and when blended, can create a symphony of personal style.
By 2021, off-price retailers are anticipated to experience apparel revenue growth of 6% to 8%, exceeding the broader apparel segment by a collective 4%. With the economy expected to struggle for at least the next 12 to 18 months, an increasing number of full-price consumers are shifting to value-based shopping.
Mosaic Brands is seeing positive results from the implementation of a digital department store strategy across several of its core apparel brands, including Noni B, Rivers, Millers and Katies. Mosaic’s department store move isn’t exactly unique in the fashion industry. Leveraging loyalty. million names in June 2020.
New ultra fastfashion competitors like ASOS and Boohoo entered the market and did what Forever 21 did but better. Not only are these retailers fast to market with their trendy designs they are also skilled eCommerce operators. In the 2000s the internet met fastfashion, and a slew of new competitors began to emerge.
They have just about every fashionable piece of clothing that young men are looking for. Now, independent retailers can keep up with the competition with these fastfashion pieces. offers all authentic brand name apparel for young men, with new products being uploaded to their website every day. New Merchandise Every Day.
Yet, many apparel retailers find themselves grappling with a myriad of challenges that hinder their growth and efficiency. From inventory management woes to order processing bottlenecks, the complexities of running a fashion business can often feel overwhelming. Here are some of the key challenges faced by apparel retailers today.
Throughout 2022, there were numerous headlines indicating a monumental shift in innovation across retail and that customers were keen to get back to physical shops while retaining the convenience of hybrid shopping. As a new normal emerged, so did successful e-commerce brands, creating a presence in our local shopping precincts.
Shein, the Chinese fast-fashion giant, is by no means a leader when it comes to sustainability. While no brands claim zero stock, making apparel that closely matches needs is a path to keeping unwanted products out of landfill. More sustainable shops, less waste. AI helps customers shop used clothing more easily.
Edited’s data backs up a marketwide trend of labels shifting away from catering to aspirational consumers, as average prices for handbags in the US have grown 4 percent, year over year (YoY), while apparel and footwear are 9 percent more expensive than they were last year.
The future of fashion: Innovation and impact with Rent the Runway When apparel rental brand Rent the Runway first launched in 2009, the fashion industry was an entirely different beast. It is imperative that retailers look into measures to better detect returns fraud and help optimise the process to go as smoothly as possible.
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