resale is a dynamic market, and I believe it has the potential in the long term to become 20 percent or more of the total apparel and footwear spending,” said Boris Shepov, research analyst and portfolio manager of Fidelity Select Retailing Portfolio at Fidelity Investments.— The RealReal, Poshmark and ThredUp, which went public in succession.Shepov attributes it to resale’s “cool factor” as well as rising consumer awareness.
While Facebook Marketplace counts 1 billion members, there are closer to 250 million monthly buyers, which is not far from eBay’s 187 million monthly active buyers. Etsy is a force, too, counting 90 million active monthly buyers. The list goes down with Mercari , Poshmark , ThredUp and The RealReal among the public resale companies garnering consistent buyer traction.
While relative resale newcomers like The RealReal boast over a dozen stores now, brick-and-mortar space is still an area where old-school thrift chains dominate. For-profit thrift chain Savers counts more than 300 thrift stores, while Oxfam tops 1,200 stores and Goodwill is well over 3,000 stores worldwide.
Another advantage to resale is its built-in sustainability benefit, but as competition grows for resale the edge needs sharpening. “Nowadays, [the bare minimum claim] doesn’t cut it anymore. People will no longer look at emissions avoided or landfill avoided, but active progress toward more sustainable textiles and products,” said Joachim Klement, a London-based investment strategist at Liberum Capital. Fast fashion has obviously “aggravated that [disposable] philosophy,” he added.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »