![]() Why is it important that the second-hand market grows? Shopping second-hand helps you understand your own style, and it’s so much more rewarding than going to the high street and purchasing the same thing as 10 other people around you. I sold a small amount to friends and had a great response so during the first lockdown I finally had the time to really think about how I could go about doing it more seriously. Why did you start buying and selling clothes second-hand? “Often people come to find the latest trends, which tend to bubble up on Depop anywhere from two weeks up to two months ahead of the mainstream fashion industry.”Ĭaitlyn Leckey, above, tells Ryan Hogg how she began curating and selling clothes through her company Second.Soul It is a “community of like-minded creatives, young entrepreneurs and sustainable-enthusiasts”, she says. The search for unique items is what attracts many GenZers to resale platform Depop, but it is more than a place to buy and sell, says chief executive Maria Raga. “And then it’s more emotional things - liking the treasure hunt, and finding something that is not easily replaceable, that is quite unique.” “Often it’s money-saving, often it’s sustainability,” explains Kampmann. What motivates this chunk that are keen on resale and reuse? Sandra Kampmann, the group’s head of insights and analytics, says its research shows that, while a large number of consumers are not interested in resale and reuse, there is “a big chunk” who are. ![]() Even big retailers such as Asos, H&M and Levi’s have tapped into the resale market.Īsos introduced its own second-hand marketplace in 2010 to allow individuals and small boutiques to sell used clothing. Rental, resale, recycling and take-back schemes are a solution to GenZ’s increased hunger for newnessĪpps such as Depop, Vestiaire Collective, Poshmark and Vinted, where users can buy and sell second-hand clothing, resonate with tech-savvy younger consumers. “‘Circular models’ such as rental, resale, recycling and take-back schemes are a solution to Gen Z’s increased hunger for newness, as well as addressing their concern for the planet,” says Hyatt. At Rotaro, which was set up to help luxury brands enter the circular economy, and where the average customer’s age is 26, she caters to two main types: the “playful aspirational”, whose priority is access to top brands at a good price and the “conscious consumer”, for whom rental aligns with their sustainable values.īoth aspirations fit in with the circular economy model of reuse and prolonging the life of manufactured items. What unites them is a desire for newness and affordability, says Hyatt. ![]() Or, as trend forecaster WGSN puts it: “Gen Me” and “Gen We”. On the other are eco-conscious shoppers who prioritise their sustainable values. ![]() On one side are the trend-focused hyper consumerists driving the success of fast-fashion giants, such as Shein and Boohoo. As for rental, the global market is expected to reach revenues of $7bn by 2025, according to research by data provider Statista.īut there is a divide at the heart of Gen Z’s behaviour. In the second-hand apparel market, a recent report from resale platform ThredUp predicts the US sector will reach $77bn for 2025 - more than double the figure for 2021. “What we are seeing with young consumers is that ‘new’ doesn’t need to be ‘new off the shelf’ - it just means new to the consumer,” says Georgie Hyatt, co-founder and chief executive of Rotaro, a fashion rental site.Īs a result, a steep rise in rental and resale is under way, driven largely by young people aged below 26 - Generation Z. There is a thrill to buying something new to wear - but does it need to be newly made to feel special? And do you need to own it?įor many younger shoppers, who have grown up in the sharing economy in which ownership is less important than for their parents, buying jeans second-hand or renting a designer dress is not unusual. ![]()
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