Various companies, including Another Tomorrow, Cuyana, Moda Operandi, Target, and Urban Outfitters, have launched online resale programs such as Trove Recommerce and luxury bag and accessories reseller Rebag.
According to a report by Business Insider, on April 22, lululemon athletic is expanding its Like New trade-in program nationwide.
According to Insider Intelligence/eMarketer, Reselling is gaining steam with sales growth this year – compared to last – up 46.6% and is projected to reach $15.50 billion.
Digital fashion resale sales are projected to reach $19.95 billion in 2023 and 25.03 billion in 2024.
According to a 2021 MaCher survey, 49.6% of millennials, 38.4% of Gen Z, and 36.7% of Gen X shoppers consider sustainability when shopping for beauty, clothes, and travel.
Companies that thrive in reselling can demonstrate to consumers that their products are of high quality.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon