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Fastfashion brand H&M recently launched Loooptopia, a Roblox game focused on creating, trading and recycling digital fashion items. Another aspect to Loooptopia which stands out from other fashion games in Roblox is the ability to recycle digital fashion items. Learning new habits.
Consumers bought less clothing during the pandemic, that we know for sure, but we also saw that many people tried secondhand for the first time ,” said Karen Clark, VP of Marketing Communications at ThredUP in an interview with Retail TouchPoint s. Growing Sustainability Concerns Favor Resale Over FastFashion.
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. Consider that 223 million consumers say they have or are open to shopping secondhand products.
What were previously unwanted and undesirable items dumped at a thriftstore have become valued as pre-loved items, full of potential for their next owner. The credentials to create a more sustainable future were never seriously acknowledged, but this has become a key selling point for pre-loved fashion.
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 fastfashion.
An old TopShop store in north London’s Brent Cross shopping centre has been revived after two years of sitting empty since the fastfashion brand closed down. It’s now a vibrant pop-up department store selling pre-loved clothing organised collaboratively by 10 charities.
But, after 10 or 15 years, we can be inspired by Marie Kondo to reorganise our lives and that custom-made item gets sent to the thriftstore – because in our minds it’s too good to throw away. This raises another question: with the resale market booming, is hyper-consumerism associated with fastfashion shifting to preloved fashion?
Overall, 36 percent of consumers have cut down on money they spend on gadgets and appliances. Consumers are Reducing the Amount of Groceries They are Buying as a Whole. Along the topic of groceries, consumers are being forced to minimize how many groceries they purchase. Inflation stayed flat in July after rising 1.3
Fast-fashion, a term used to describe the clothing industry business model of replicating recent catwalk trends and high-fashion designs, mass-producing them at low cost, and bringing them to retail stores quickly, is horrible for the environment. Second Hand Shopping Gaining Popularity.
Harvard consumer researcher Professor Susan Fournier would say that our brands are akin to our best friends, acquaintances, lovers, and dalliances. I’m being increasingly guided by socials, following influencers, and I am also being influenced by other consumers online, whom I perceive to be ‘just like me’. We like familiarity.
Matt: [2:02] Yeah have you too I like to think about my career or having two careers to date the first one was, very foundational for what I’m doing now but very quantitative, process-oriented mechanical engineering patent law Manufacturing, Ops Consulting things that had nothing to do with retail or fashion or e-commerce and then I. [2:32]
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.
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