How Patagonia, REI and Eileen Fisher are using secondhand sales to get more new customers:
Share to twitter“We’ve moved past the point where companies can survive based on transactions. They’ve got to have relationships with customers,” says Andy Ruben, CEO of Yerdle, that supports Patagonia Worn Wear resale program.The market for secondhand fashion is growing by leaps and bounds. Apparel resale revenues are expected to more than double from $24 billion to $51 billion in the next five years.
By ignoring the potential of secondhand sales, brands are giving away not just potential sales, but more importantly, customers that could be the future of their first-hand business over the “long haul.” They come in through the back door, but eventually they will enter through the front door. As Walmart’s first sustainability officer, as well as leader of the retailer’s e-commerce strategy, private brand and omnichannel initiatives before founding Yerdle, Ruben first hit on the idea for his company from a sustainable, circular fashion view.
Patagonia Worn Wear is 100% on trend for this company famous for its “Don’t Buy This Jacket” advertising campaign.
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