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Looking for a new you?  Maybe you just need a "renewed" you.  Try a little shopping therapy to wake up your inner diva.  But, don't break the bank.  We have a better idea!  Make room in your closet first by selling your gently used items.  Then save on the brands and apparel you really want for a lot less money!

Resale, consignment and secondhand shops are more than places to find great deals on apparel, home goods and furniture.  They can be environmentally friendly, resale wonderlands that inspire you to dress more stylish & decorate your home with one-of-a-kind, designer items for less.

Why shop resale?

Marketed as the world's largest online thrift store, thredUP® surpassed $131 million dollars raised in 8 years of business, as of 2017.  Increased sales in the secondhand market may be one reason for such success.  Their 2019 Resale Report supports the increase in market share along with good reason why more shoppers are open to shopping secondhand outlets and stores over retail.

The report contains research and data primarily provided by a third party retail analytics firm, Global Data®.  It shows resale has grown 21 times faster than the retail apparel market over the past 3 years.  With leading online-resale-sector retailers like thredUP®, The REALREAL® and POSHMARK®, secondhand consumers are increasing at a substantial pace.

In fact, based on data in the report, the secondhand market is expected to double in 5 years from a 24 billion dollar industry in 2018 to over 51 billion dollars by 2023. Resale is driving the majority of the growth followed by thrift and donation.  

The report goes on to indicate an increase from 2016 when 45% of women said they bought or are willing to by products secondhand. In 2018, 56 million women, 64% of those surveyed, indicated they shop or would consider shopping secondhand items.  Boomers (ages 56-65+) 31% and Millennials (ages 25-37) 33% lead the thrifty shoppers followed by Gen Z (ages 18-24) 20% and Gen X (ages 38-55) 16%.

Sell, shop, save... repeat

                                                                                                  

According to the thredUP® report, many shoppers don't consider purchasing new items from department stores or boutiques without considering the potential for resale in the future.  Consignment opportunities at local shops or opportunities to sell through online resellers provides an opportunity for shoppers to keep their wardrobe and accessories fresh, adding retail and resale items alike while getting top dollar for items they are ready to sell.  Big demand for brands like Kate Spade® and Karl Lagerfeld® provide a great opportunity for any diva to give resale a chance and make some cash on gently used designer items.

What you want, for less

Find brands you want at prices you can afford at local and online resellers and thrift shops.  Some of the top brands sold in the order of value ranking on thredUP® include:

  1. Frye®
  2. Kate Spade®
  3. Tory Burch®
  4. Burberry®
  5. UGG®
  6. Anthropologie®
  7. Patagonia®
  8. Hunter®
  9. Lululemon Athletica®
  10. Rag & Bone®

Some of the items with the best resale value include: leather backpacks, leather crossbody bags, winter coats, leather boots, jumpsuits and sweaters.  There is something that can peak the interest of nearly any typical retail buyer.  In fact, 72% of secondhand shoppers cut retail spending in order to add more used items over new.  51% of consumers plan to keep spending even more on secondhand purchases over the next 5 years. 

Grouped with the other promising statistics for secondhand resellers, the average consumer replaced 8 new apparel items with used items in the last 12 months.  This gives retailers a new Resale and Retail model to consider.  As a way for the retail sector to keep it's customer base and market share, the adoption of a hybrid business model has been considered. Such a partnership would embrace today's consumer and streamline increased sales for the customer's of the future.   These customer's will seek ways to recycle, resell and upcycle in an effort to be value minded and environmentally focused. 

How does buying used items help our environment?

Resale has an important role in creating new paths towards a circular fashion future.  A linear economy has drastic negative affects on our environment.  It produces the highest waste and pollution from items such as textiles compared to recycling or circular economic models.  An equivalent to one garbage truck of textiles are landfilled or incinerated every second.  The textile industry will be accountable for 25% of the global carbon budget over the next 31 years.  The sad truth is that we are still buying new items at an incredible rate of 100 billion units as of 2015 and wearing each item half as long.

The recycling of these items reduces the waste considerably, while the circular fashion model further reduces waste and employs the following:

  1. Materials: Fashion items produced from renewable and safe materials
  2. Design: Fashion items are created with the intent of reselling, renewing or reproducing from the existing materials
  3. Resell: Extend the life of the item by way of resale, rental or other means to extend the life of the item indefinitely 

If everyone replaced one new purchased item per year we would save 5.78lbs of CO2 emissions (equivalent to reducing half a million cars from our roads).  We could save 11B kWh of energy, equivalent to 141 years of light for the Eiffel Tower.  

So, here is your chance to make a difference for your environment while saving money on the brands and items you want.  Do your part to save energy and reduce landfill waste by replacing the purchase of one new item with one used item over the next year.  Share your find with friends and family to keep the circular fashion model a leading solution to reduce the textile industry's high percentage of the carbon budget.

-OurDMK.com



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