The news: Rent the Runway has begun selling resale and new luxury items on an Amazon Fashion online storefront.
Growing interest in resale: We expect fashion online resale will continue growing at a solid clip thanks to Gen Z consumers’ commitment to sustainable consumption, along with their love of thrifting and throwback fashion trends.
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.
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.
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.
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