In a world of consumerism and disposable purchases, it’s no surprise that our habits began to drastically impact the environment. Affordability and trendiness were key factors that many buyers would take into consideration when shopping, clearing the way for fast fashion to become a booming industry.
But what happens when priorities change and consumers shift their focus from quantity to quality and sustainability? Shoppers were searching for a way for their purchases to be fashionable, affordable, and long-lasting — all without leaving a negative impact on the environment.
This is how re-commerce was born!
What is re-commerce?
To put it simply, re-commerce or reverse commerce is the selling of previously owned products. While the term itself may seem new, the concept has been around for years.
Thrift shops and garage sales were home to secondhand clothing for decades, but it wasn’t until recently that the idea of purchasing used clothing became mainstream.
Once eBay built up their reputation, dozens of digital marketplaces began popping up on the web, from Depop to Poshmark - and even major retailers like Levi’s and H&M with COS began developing their own versions of resale brands.
This rush for big brands to join the secondhand industry essentially eliminated the stigma associated with used purchases and blurred the lines between commerce and resale shopping.
While cleaning out your closet once meant giving your friends and family your hand-me-downs or donating your used clothing to a charity - it’s now an opportunity to make a paycheck.
How have trends shifted?
There are numerous reasons why consumer trends and ideals have shifted over time. Shoppers became frustrated with low-quality garments from fast-fashion brands, but many still needed the price tag to be relatively low.
Additionally, as younger generations grew up and became independent consumers - they placed a higher emphasis on the health of the planet, making way for an environmentally conscious buyer market.
With a combination of these factors, it’s really no surprise that re-commerce has taken off and developed into a multi-billion dollar industry.
How fast is it the resale industry really growing?
When we say that re-commerce is the fastest growing trend of 2020 - we’re not lying. The ThredUp Annual Resale report estimates that the secondhand market is set to hit $64 billion in the next 5 years. If that wasn’t enough, the industry is expected to be bigger than fast fashion by 2029. To put that into perspective a little bit more, online secondhand is expected to grow a whopping 69% between 2019 and 2021 while regular retail shrinks 15%
Honestly, the facts speak for themselves. We’ve entered a new era of sustainable fashion, where sharing your closet is trendy, and purchasing pre-loved items is considered the new normal.
Why waste your money on fast fashion websites buying cheap clothing that will only last a month? If you want to look fabulous on a budget or start your own business selling secondhand clothing - then now’s the time.
Join the pre-loved fashion revolution and choose used.
Written by Wisioi marketplace brand manager @Mia Celeste