#4: Takeaways from the ThredUP resale report
ThredUp released it's 2023 resale report yesterday and it has us feeling really optimistic about the future of resale. Here are some high level takeaways:
📈The secondhand industry is growing growing growing! Expected to reach $70B (with a B) by 2027. Resale is expected to grow 9X faster than broader retail.
🛍 Resale is being adopted by more than just the eco-conscious shoppers. Consumers of all ages are shopping secondhand in droves. 1 in 3 apparel items bought last year was secondhand -- you're in good company.
🤝 Brands everywhere are getting in on the action! We anticipate hundreds of new resale offerings, collaborations and initiatives in the next couple years.
♻️ Resale has the potential to cut new clothing production. US consumers bought 1.4 Billion secondhand apparel items in 2022 that they normally would have bought new, up 40% from 2021. Take their impact quiz to see your fashion footprint.
✨ And lastly, resale is becoming mainstream! 82% of businesses surveyed plan on increasing their investment in secondhand apparel over the next year. We believe that understanding the power of secondhand can help brands maximize their potential in 2023 and beyond!
The report was super eye-opening and we can't wait to see (and participate in) what this new era of resale holds. 💃🏼 🤩 🤑
Read the full report here.
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Join us every week as we demystify the world of resale. We'll share the latest Beni news, insider tips for shopping secondhand, and guide you through the trends shaping the future of fashion.
🎉 Someone to Follow
@Remakeourworld is a nonprofit organization that advocates for fair wages and climate justice in the fashion industry. Follow them on IG for all sorts of resources, tips and tricks, and ways to get involved.
📚 Something to Read
"Ours is the era of fast fashion: a time of cheap and constantly changing styles for consumers of every stripe, with new clothing hitting the racks every season as social media-fueled tastes shift.
Worn Out examines the underside of our historic clothing binge and the fashion industry's fall from grace."
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How to Find the Best Deals at Thrift Stores
✨ Shop on discount days: Many thrift stores have discount days, where certain items are marked down even more. Keep track of these days and plan your shopping accordingly.
✨ Check for flaws: Look for items with small flaws that can easily be fixed, such as missing buttons, loose threads, or minor stains. These items are often marked down significantly.
✨ Look for quality fabrics: Focus on finding items made with high-quality fabrics like wool, silk, and cashmere. These items may be pricier, but they'll last longer and are worth the investment.
✨ Shop out of season: Look for off-season items, such as winter coats in the summer or swimsuits in the winter. These items are often marked down to make room for new inventory.
✨ Outsource the Search: If thrift stores feel overwhelming then go back to your couch, make a cup of coffee, and let Beni do the searching for you!
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🔥Popular Brands: Jimmy Choo, Louis Vuitton, Bottega Veneta, Hermes
💡Beni Tip: The price you see is locked in. Act quick before it's gone!
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