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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. Why the strong growth, particularly during a time of economic upheaval?
These are some common factors that motivate players to continuously return to achieve milestones. This in-game action is a subtle reference to the environmental impact of textile waste globally and to change consumer behaviour, we need to learn new habits. In an effort to connect with a portion of an estimated user base of 58.8
Goodwill is the OG of thriftstores,” said Matthew Kaness, a retail OG in his own right, who recently joined as CEO of GoodwillFinds.com. With the scale of the of the operation — $4 to $5 billion a year, mostly store-based — it feels like the giant has woken up and is now looking to take its rightful place. The OG Advantage.
The pre-loved clothing market has exploded in the last five years, and as physical retail gains momentum after the pandemic, consumers are seeking to buy from responsible retailers with purpose-led values. Many shopping precincts were left with empty stores due to swift lockdowns and it’s been a slow return to bricks-and-mortar for brands.
Thrift shopping continues to grow in popularity, particularly with millennial and Gen Z shoppers. For retailers, thriftstores have become part of the ‘mainstream’, managed with many of the key disciplines of ‘regular’ retail. But thrift retail also has its own unique characteristics and store performance indicators.
Omnichannel Integration Your customers no longer differentiate between shopping online and in-store and often want to use a blend of channels within the one transaction such as ordering online and collecting in the store (click and collect), buying online and returning in the store (BORIS) or ordering in-store for home delivery.
The rest can be returned to the sender or recycled responsibly. 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.
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.
Collect books from used book stores, estate sales, or private individuals and bring a small inventory with you to set up a stand at various locations. ThriftStore. Go to each home to pick up laundry and return it once it’s been cleaned, dried, and pressed. Independent Bookstore. Home Organizer. Laundry Service.
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