Retail’s Latest Disruptor: The Resale Industry

Old clothing is finding renewed potential in the resale market. In fact, resale is so hot in fashion that some think it might be the retail industry’s next big disruptor. What was once reserved for discount shoppers and unfashionable castoffs is quickly becoming the go-to destination for shoppers as the stigma behind secondhand wears off. And the trend has only just begun. Some industry experts say the total resale market’s value will more than double — from $24 billion to $51 billion — in the next five years. “We’re really at the tipping point where resell behavior is moving away from niche behavior and really becoming the standard,” Charles Gorra, founder and chief executive officer of Rebag, told WWD earlier this year.   Even luxury shoppers are buying vintage on platforms like Farfetch and Rebag, which offers hard-to-find designer goods for a fraction of the price.   Then there’s The RealReal, ThredUp, Vestiaire Collective, Poshmark, Tradesy, Rebag and GOAT, among others, all offering different things. “Resale appeals to this generation’s desire for frequent fashion updates (so as not to be caught on social media wearing the same outfit twice), their interest in developing a ‘sharing economy,’ coupled with their eco-consciousness and passion to

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD http://bit.ly/2DDLubP