With the rising cost of living, consumers are increasingly turning to second-hand fashion to make their wardrobes more economical. A recent report from GlobalData* shows that this trend is showing no signs of slowing down, with their estimates predicting an 85.5% growth in global apparel resale over the next five years -bringing it up to $338 billion worldwide.
To remain competitive in the ever-evolving fashion market, many leading brands are now entering the resale space to address customer issues surrounding sustainability and affordability. Instead of relying on third-party platforms, they’re providing their own services – a move that engages existing shoppers and attracts new customers.
As the movement towards sustainability continues to grow, retail giants H&M and Primark have joined forces with the recommerce platform SELLPY allowing customers to purchase pre-loved items from their Swedish website.
Not limited to just its own brands, shoppers can also find second hand garments from ASOS, NIKE, Zara and Abercrombie & Fitch in this unique online offering. In addition, Levi Strauss Lululemon, as well as Hugo Boss, who recently announced ‘Hugo Boss PreLoved’, are joining the fold too, making it easier than ever for consumers around the world to shop sustainably.
As the second-hand fashion market expands, so has its potential challenges. Inflation and emerging trends have made it increasingly difficult for consumers in Europe and North America to buy new clothes without breaking their budget, leading many of them to turn toward reselling as an alternative source of income.
On top of that, some countries still harbour negative perceptions towards resale clothing due to its more affordable prices than retail items. Despite these developments, however – with careful consideration – there is no doubt that re-commerce remains a viable option across multiple parts of the world.
What To Consider When Shopping On The Second-hand Market
When purchasing items on the second-hand market, it is important to consider a few factors in order to make an informed decision that you won’t regret. Here are five things to bear in mind:
- Know what you’re buying – Not all products are worth buying second-hand. This is especially true of what are often referred to as fast-fashion items and other low-quality products. In this area, it is good to be an aware consumer and learn all about the characteristics of production techniques from different decades. You can find real bargains on everything from clothes to jewellery and shoes if you have good knowledge.
- Quality – Inspect the quality of the item for wear and tear as well as any evident damage before purchase. Second-hand products may be cheaper, but if they are not in good condition, they may not be worth your money.
- Cost – Consider whether the resale price is reasonable, given the condition and age of the item. Purchasing from reputable sellers can help ensure that you do not overpay for what you get. When it comes to prices, it also pays to be well informed to know how much different things are worth.
- Age – In some cases, vintage quality items have a higher value than new ones. This is especially true for special editions and products with good durability such as genuine jewellery and certain types of furniture and handbags. But in other cases, age can clearly negatively impact quality. It is essential to think about the age of the item. Second-hand items may be cheaper, but if they are too old, then it could mean that you could have to invest in repairs or replacements soon after buying them.
- Reputation – It is also worth researching and reading reviews from previous customers to understand the seller’s reliability and trustworthiness.
By taking these factors into account, you can make a more informed decision when shopping for second-hand items and save yourself time, money and hassle in the long run.
Become An Export On Collecting And Wearing Vintage Classics
Collecting and wearing vintage classics can be a great way to add some unique style to your wardrobe. Whether you’re just starting with the hobby or have been in the game for years, there is one thing all success collectors have in common: they are knowledgeable about their chosen pieces and know how to source high-quality items that stand out from the rest.
Learning this information isn’t easy – it takes research and formidable skills of searching through thrift stores, consignment shops, and online resources like eBay – but it doesn’t have to take forever.
If you want to learn everything you need to know about becoming an expert on collecting and wearing vintage classics, here are some good books on the subject: