While the retail transformation headlines have focused on the battle of eCommerce vs instore, the demise of malls, and speculation on the store of the future, a quiet disruptor: Resale, has been picking up where traditional retail leaves off.
The resale market, and specifically apparel resale, with convenient marketplaces showcasing curated finds to the connected customer, is gaining share of traditional retail sales. According to the ThredUp Annual Resale Report for 2017, the $18B Apparel Resale market is expected to grow to $33B in 2021. The US Apparel Resale market represents not only all secondhand apparel, both online and offline, it also includes traditional thrift stores, and established auction sites such as eBay.
Traditional retailers take note: resale shopping is not only thriving in the face of the ailing traditional retailer, its adopting some of the latest trends in the process.