To help make sense of the rapidly-growing space, we compiled this consumer-first primer on the state of today's resale world.
If you feel like you're coming across the words "resale," "recommerce" and "consignment" — all synonyms for the secondary clothing and accessories market — more in these first six weeks of 2020 than you have in the last several years, you're not alone.
We hope this helps you navigate the wonderfully wide secondhand space, whether you're entirely new to resale, already Depop famous or, like so many of us, somewhere in between. So yes: Resale is thriving. But the market could use some TLC so both sides of that chicken-egg hypothesis are fulfilled: that the ever-growing number of secondhand retailers are able to more efficiently appease and acquire consumers, and that consumers can enter the space with more confidence.There are so many platforms through which you can participate in resale right now, and it can be paralyzing for those entering the market for the first time.
Vestiaire Collective, Poshmark, Depop and Tradesy operate more as peer-to-peer marketplaces for buying and selling — think an upscale Craigslist for clothes and accessories — than other consignment retailers. Poshmark and Depop consider themselves social shopping apps and encompass a wider range of brands and price points and tend to have audiences that skew a bit younger, while Vestiaire Collective and Tradesy are more centered around luxury and designer contemporary fashion.
Fashionphile works like this: It purchases pieces it calls "ultra-luxury" upfront from the seller, where the items get further authenticated and priced. With its partnership, select Neiman Marcus locations are now rolling out Fashionphile "salons," or shop-in-shops in which consumers can sell their pieces and get paid on the spot.
Resale isn't the magic pill that can cure fashion's waste epidemic. If we were being really, truly sustainable, we wouldn't be buying anything at all. But resale does bolster a more circular economy, particularly if it occurs on a systemic basis.
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