market is exploding and it is projected to grow seven times faster than traditional retail in the next five years. It is driven by savvy consumers who are shifting toward more sustainable and cost-conscious shopping opportunities. This is opening doors for brands to tap into the resale market.
We have seen a fundamental shift in the market. In 2021, only 30 brands had jumped into resale. Now, hundreds of brands have launched and scaled resale as part of their core business. Every executive in fashion has resale on their radar. The secondhandmarket is projected to grow seven times faster than the general apparel market over the next five years, and this velocity is increasing at a rate even we didn’t expect.One driver of this shift is a change in consumer shopping behaviors.
Archive’s technology was built specifically for resale, with these nuanced parameters in mind. We built our inventory processing system to maximize the margin for our brand partners and we’re seeing some exciting results. Many of our brand partners find that their resale business is as profitable, if not more profitable, than their core business.