One notable challenge: A slowing economy may not be a major boon for resale given that preowned fashion apparel and footwear still fall into discretionary spending.
- Another challenge for resale is that consumers can find steep discounts on the primary market thanks to the mismatch in supply and demand among apparel retailers, which has made resale less appealing.
The big takeaway: Resale is no longer seen as undesirable, but rather as a way to score unique wares and to reduce firsthand consumption, particularly among Gen Z and millennials.
- The growing visibility of secondhand items on prominent online platforms such as Amazon should help further grow the addressable audience for resale.
This article originally appeared in Insider Intelligence's Retail & Ecommerce Briefing—a daily recap of top stories reshaping the retail industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.