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What Recommerce can Teach Retailers About New Consumer Behaviors and Future-Proofing Sales

Retail TouchPoints

As retailers have struggled to navigate changes in consumer behavior and economic uncertainty brought on by the pandemic, one area has seen continued growth: recommerce. Recommerce checks many boxes for both consumers and businesses. Consider that 223 million consumers say they have or are open to shopping secondhand products.

Consumer 321
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Step inside the UK’s first department store for secondhand clothes

Inside Retail

An old TopShop store in north London’s Brent Cross shopping centre has been revived after two years of sitting empty since the fast fashion brand closed down. It’s now a vibrant pop-up department store selling pre-loved clothing organised collaboratively by 10 charities.

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Tommy Hilfiger gets thrifty with ThredUp

Inside Retail

ThredUp’s 2022 Resale report shows that the secondhand market in the US is expected to more than double by 2026, taking its value to an estimated $82 billion in just four short years. It’s likely the technology to overcome this challenge will advance just as quickly as the resale market. Fast (preloved) fashion.

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Study: Resale to Hit $47B by 2025, Giving Fast Fashion a Run for its Money

Retail TouchPoints

That growth rate looks likely to continue, with the overall secondhand market projected to double in the next five years, reaching $77 billion in annual sales by 2025. Clark isn’t exaggerating: 33 million consumers bought secondhand apparel for the first time in 2020, according to the report.

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Research Reveals How Americans are Adjusting to Inflation

Independent Retailer

Overall, 36 percent of consumers have cut down on money they spend on gadgets and appliances. Consumers are Reducing the Amount of Groceries They are Buying as a Whole. Along the topic of groceries, consumers are being forced to minimize how many groceries they purchase. Inflation stayed flat in July after rising 1.3

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Gen Z: Merchants of cool or brand killers?

Inside Retail

Harvard consumer researcher Professor Susan Fournier would say that our brands are akin to our best friends, acquaintances, lovers, and dalliances. I’m being increasingly guided by socials, following influencers, and I am also being influenced by other consumers online, whom I perceive to be ‘just like me’. We like familiarity.

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Jason & Scot Show Episode 300 – Goodwill Finds CEO Matt Kaness

Retail Geek

Matt: [2:02] Yeah have you too I like to think about my career or having two careers to date the first one was, very foundational for what I’m doing now but very quantitative, process-oriented mechanical engineering patent law Manufacturing, Ops Consulting things that had nothing to do with retail or fashion or e-commerce and then I. [2:32]