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Community vintage fashion  what do consumers say and resale expect  | Newsletter Lifestyle

Vintage Fashion: What Do Consumers Say And Resale Expect?

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by: Fashion Age
vintage fashion  what do consumers say and resale expect  | Newsletter

'I won't buy any clothes from fast fashion stores for a year... and hopefully for ever more'. Could you commit to not buying a single item of clothing from fast fashion outlets for an entire year? To only buying clothes from charity shops, second hand shops, or swapping or borrowing items?

Vintage Fashion: What Do Consumers

The seven student in this article say they love fashion and insist their boycott of fast fashion won’t be about them turning their back on clothes. Instead, it will be about getting creative and finding sustainable alternatives. Let's read their motivation to buy only vintage fashion.

shoes, black and white tiles legs

Recommended: Circular Sustainable Fashion: Biggest Trend Of The Century

Vintage Fashion: What Do Consumers Say. Niamh Guiry

Age: 22
From: Bishopstown
Studying: Microbiology (fourth year)

girls blue trouser

Are vintage clothes second hand?
On the other hand, vintage refers to a category contained within the second hand category, which is the category of clothes that, even though have been produced a while ago, still have a good quality and can be worn. Clothing has, generally speaking, a very short life span

“I’ve decided to boycott fast fashion because no one should suffer so you can look ‘trendy’. I’m always trying to think of new ways that our society can promote sustainability and the issue of fast fashion has been on my mind for a while.
“I had been reading about the atrocious human rights violations that occur in this industry and the amount of pollution and waste it creates and I decided that I wanted to try to make a difference. “I thought that pledging to only buy sustainable and second hand clothes for a year could be a good way to do that. I went into one of our weekly committee meeting and asked if anyone wanted to boycott with me. I was beyond thrilled when six hands shot up in the air.


                                                    Vintage Shopping In London + Trying On What I Got
                                             Vintage Fashion: What Do Consumers Say And Resale Expect?

“Over the coming year, I’m going to buy as few clothes as possible. If I want to get ‘new’ clothes I’ll go to charity shops, to swap shops, I’ll ask my friends if they have anything I can borrow. “I have plenty clothes (the same as the vast majority of people) I don’t need any more.
“I will admit that I absolutely love clothes and I love expressing myself through the clothes I wear. “Over the next year, I’m going to continue doing just that. You can live and shop sustainably and look good at the same time.”

Recommended: Sustainable Fashion From Bio-Materials Good For The World

Vintage Fashion: What Do Consumers Say.Caoimhe Flynn.

Age: 22
From: Carrigtwohill
Studying: BA International in English and German (final year)

girl black trouser grey sweater

“Reports and news coverage have exposed time and time again the human rights abuses on which the fast fashion industry is built. “In the midst of the climate crisis, the mass production of ‘disposable’ clothing is also not sustainable. It results in the use of vast quantities of water, burning of fossil fuels and strain on already limited resources.

“I aim to avoid increasing the amount of clothing I currently own. I will, however, replace items which are no longer wearable, particularly those that are necessary.  “In the last two years, I had already begun to shop more in the many second hand and charity shops in Cork.  “If I still cannot find what I am looking for, I will allow myself to buy from brands and companies who are dedicated to sustainable practices. “I do not envisage encountering many difficulties along the way, though I have to change my habit of taking the easy way out when something breaks suddenly.

“Not popping into fast fashion retailers to buy little things like socks will probably be more difficult than I imagine! In the end however, I know that what I own is already more than enough.”

What are the best online thrift stores?
8 Amazing Online Thrift Stores for the Coolest Vintage Clothes Ever
  • ASOS MARKETPLACE. That's right, ASOS has a vintage website too!
  • The Vintage Twin
  • THREDUP
  • Tradesy
  • Maeven
  • Refashioner
  • LePrix
  • Depop

Vintage Fashion: What Do Consumers Say. Isobel O’Connor Sealy

Age: 19
From: Tallow, Co. Waterford
Studying: Arts International (first year)

girl, purple dress

“I’m boycotting fast fashion because I find it sickening that people work in slave-like conditions making clothes for people like me in developed countries just so we can look fashionable.

“I’ll be buying from charity shops, taking hand-me-downs from family, exchanging clothes with friends, and going to swap-shops or kilo-sales to get myself new clothes during this boycott (and hopefully forever more!). “I enjoy knitting and sewing so perhaps I’ll make a few things or spice up some old pieces I have lying around. “I’ve always loved fashion and I find it’s a way for me to express myself.

“I’ve also been a big shopper but recently, as I’ve become more aware of the negative impact the fashion industry has on both people and planet, I’ve mainly stuck to charity shops or swapped clothes with friends. “I imagine the allure of online shopping will be a challenge for me, but the knowledge I have now definitely outweighs the convenience of cheap clothing.

“Basics, like underwear and socks, could potentially be a challenge too, but sustainable brands do exist should I need anything like that.”

Recommended: Fashion Minimalism, A Capsule Wardrobe: Dream Or Nightmare?

Vintage Fashion: What Do Consumers Say. Síofra Richardson

Age: 21
From: Cobh
Studying: World Languages (second year).

girl, black trouser, scarf

“I’ve long been aware of the ethical and environmental violations of the fast fashion industry — I started a boycott myself when I was about 15, though I have since on and off allowed myself to buy various items from high street stores for different reasons.

“It felt like the right time to start a proper boycott again, as there is massive momentum for climate action at the moment, and as a group we have the opportunity to have a bigger impact, using the Environmental Society platform where we are a little more visible to our university community.

“I absolutely love clothes, though for years I’ve tried not to buy fast fashion. I prefer vintage pieces. I like to think of buying clothes as investments. I use Eco Age’s & wears challenge as a kind of a decision maker as to whether or not I should invest — is it something I will wear 30 or more times? Can I dress the piece up or down, and can it be worn year round?

What is difference between vintage and antique?
Here is the general rule to remember: Something antique is also vintage, but something vintage isn't necessarily antique. Vintage refers to something that is from an earlier generation. Antique refers to something that is over 100 years old

“For my boycott I am going to attempt to buy no new clothes for the year. If I just feel like jazzing up my wardrobe, I’ll take part in a swap shop: bring clothes along to an event where I’ll leave them for someone else to pick up and love hopefully, and find something that was pre-loved.

“If it comes to it, I will buy from second hand stores or from ethical companies that are 100% transparent and traceable — this means before investing in a piece researching the company, where it’s based, their human rights record. There are plenty of ethical companies out there though, a little pricier but personally I think it’s worth it. “The challenge I predict right now is formal wear — it’s not impossible to pick out formal dresses from second hand shops but it’s a bit more of a process!

“Obviously, if something doesn’t fit you can’t just move up or down a size, so it’s either start all over or if it’s not far off you can get it altered. I have a few formal occasions this year so I’m looking forward to getting creative!”

Recommended: State Of Fashion: Searching For The New Luxury

Vintage Fashion: What Do Consumers Say. Rebecca Doocey

Age: 20
From: Conna
Studying: International Development and Food Policy (second year)

girl green suit

“Being able to express myself through what I wear is inherently important to me — but I realised I couldn’t keep doing it at the expense of the planet and the people who worked to make the clothes, so I decided to boycott fast fashion.

“Personally, for the next 52 weeks, I want to challenge myself to avoid buying clothes at all, and if I do need something I will only try buying second hand or from a sustainable source (Lucy & Yak are a great online producer of sustainably made clothes in a non-exploitative way).

“I used to be a blind consumer, buying whatever I wanted just for the sake of it, until I ended up with a mountain of clothes I neither liked nor needed.

“Though we’ve only pledged to give up fast fashion for a year, I plan on changing my consumer habits considerably for the future, buying only the necessities as I’m becoming more interested in a minimalistic lifestyle.”

What is a vintage theme?
What is a vintage theme? A vintage theme is one that uses items and decor that depicts a certain period in time, or the items themselves are aged

Vintage Fashion: What Do Consumers Say. Asha Woodhouse

Age: 22
From: Gurranabraher
Studying: Environmental Science (4th year)

girl blue trouser, long hair, scarf

“I’m boycotting fast fashion in solidarity with people that suffer at the hands of mass producing unnecessary clothing for Western society.

“The fashion industry must switch to a circular economic model, be transparent and take responsibility in ensuring compliance with workers’ rights and in having minimal environmental impact in its production processes. “If I need to buy something, I usually shop in a second hand store first.

“There are some items I prefer to buy new such as sportswear and shoes, but there are plenty of brands that are transparent and sustainable in their production processes. “However, a lot of these brands are pricey, but I think this will help me in putting more thought into it before buying something — although I know I am privileged to be able to do this.

“I don’t think I’ll find it too challenging, to be honest, I’ve been conscious of this and shopping in second hand stores since I was about 15. “Most of my favourite clothing is second hand. “The majority of fast fashion items I have bought recently have been with vouchers that I was gifted for birthdays and Christmas. “I think what I will find hard is buying basic items like vest tops, underwear, socks, and clothes for work.”

Vintage Fashion: What Do Consumers Say. Nevena Stoya

Age: 24
From: Bulgaria, grew up in Spain
Studying: Nutritional and Food sciences

girl, jeans jacket

“I’ve been invested in a fast fashion boycott for over five years now, during which time I’ve been learning how to to minimise generic consumption.

“I was brought up in an entrepreneurial family, my father a carpenter and mother a tailor, so producing necessities for myself is not unfamiliar to me. “Avoiding waste is part of the Slavic culture. I always had handmade and unique designs to wear as a kid. I grew to love fashion, but endurance and quality were things I struggled to find in many brands and fashion-houses.

“My advice to anyone thinking of following us would be to start from the community education perspective of re-building our habits and lifestyle: use, re-style customise and recycle. Borrow from friends and family, swap in pop-up events locally, learn to fix and sew at Vibes and Scribes workshops and lessons (not only handy but great craic as well) or find your city’s professional tailors (Zipyard, or others). If you really do need to buy something, make it a last resort and do so in a more conscious and aware manner. Buy from charity and second hand shops, donating to meaningful causes or from NGOs such as Oxfam who work preventing clothing ending up in landfill. Buy from small and local outlets, choose organic cotton or recycled and sustainable fibres.

“And for more advice, follow the Society’s Instagram page where I’ll feature a Cork guide to sustainable fashion.”

Recommended: Israeli 3D Printed Fashion As Sustainable Works Of Art

Vintage Fashion: What Does the Resail Market Expect

Reselling platforms are having a moment. This year, Nike took a pair of Air Max 1s off shelves because the shoes showcased an embroidered Betsy Ross. Like clockwork, interest in the kicks exploded.

Nike, Air Max Betsy Ross
Nike ordered a recall of its new July Fourth-themed Air Max 1 sneakers over concerns about its Betsy Ross flag logo. Prices for the shoes rocketed on the website StockX

Currently, on the sneaker resale site StockX, people have bid upwards of $2,700 to nab a pair of the Air Max 1s. And high-end fashion reseller The RealReal debuted on the Nasdaq with much fanfare.

StockX, which just raised $110 million in new funding, and The RealReal represent a growing group of retailers once considered niche. Over the last few years, they’ve begun garnering more mainstream attention, causing some proponents to believe resale to be the next big wave in retail. In the U.S. alone, retail sales are expected to hit $3.8 trillion, according to the National Retail Federation. These new platforms exhibit a burgeoning industry, yet challenges lay ahead before they can truly compete with big retail brands.

Reselling isn’t new: For decades, people have hawked their already-bought goods via sidewalk sales and thrift and vintage stores. Sites like eBay too provided way for individual sellers to cash in on used goods. Goodwill has been around since 1902. The latest wave of startups for second hand fashion is named; ‘modernized vintage’.” Resale has had a facelift!

Vintage Fashion: The State Of Resale Platforms

Flashy new resell platforms are catching people’s eyes. There are more consumers who are entering the resale market—both as sellers and as buyers. It is most certainly growing at a very rapid clip.

The numbers forecast that the market for resold clothing, accessories, and footwear in the U.S. will hit $51 billion in 2023, more than double what it was last year. Meanwhile, older companies are dabbling with it as well. resale site Fashionphile has begun building out a program for shoppers to sell back their old clothes. H&M is reportedly making similar moves too. Both the startups and the older players tout these programs as moves toward better sustainability; instead of buying something cheap and throwing it out some months later, people can recycle their own fashion. This is the new consumer trend.

What types of trends are there?
Trend analysis is based on the idea that what has happened in the past gives traders an idea of what will happen in the future. There are three main types of trends: short-, intermediate- and long-term.

5 girls with retro dresses

Beyond the RealReal and StockX there are myriad other online resellers that use a variety of models. ThredUp, for instance, offers a website quite similar to other fashion retailers and department stores. All the clothing it sells, however, is used.
People can send ThredUp their own unwanted pieces, for which they can received a small amount of cash or store credit. ThredUp has raised over $130 million in funding and business intelligence platform Owler estimates that the company brings in around nearly $40 million in revenue.

Poshmark uses a more direct route, having sellers take pictures and ship their own products to buyers. In 2018, the company reportedly brought in nearly $150 million, and it’s been allegedly working toward going public later this year.

Poshmark said it has over 50 million users and over $100 million of inventory is uploaded to its platform every week. Thus far, the company has raised nearly $160 million in venture capital. Modern Retail reached out to Poshmark and ThredUp for comment about the reselling market and their future plans, and they both provided statistics about growth and scale.

Still, the overall impact is contested. ThredUp, in fact, commissioned a study (performed by GlobalData) that said the secondhand fashion resale market will eclipse fast fashion by 2028.

shirt hanging

Vintage Fashion: Challenges Ahead

It’s unclear how many people are participating in this new digital resale industry. Only 21% of consumers had ever purchased anything second-hand. While many of these businesses are reporting growing numbers, their sales have yet come close to the billions of dollars in sales that even the ailing retailers are doing.

Gap, for instance, reported over $16 billion in sales in 2018. The truth is, that it is hard to believe any of these niche companies getting to that level in the near future.”

Still, if ever there were a time to make a splash in the resell market, now would be it. Given the RealReal’s debut and StockX’s massive money raise it inevitable for others to go public soon. There’s growing investors interest at this current juncture. There’s a window of opportunity now.

Before you go!

Recommended: Black Friday Not Sustainable At All Especially For Fashion

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Breaking News, as the world changes…

In our world, WhatsOrb refuses to turn away from the changes in our society and environment which succeeds each other at a rapid pace.

For WhatsOrb, publishing on the environment is a priority. We give reporting on climate, nature, waste, lifestyle and sustainable solutions the prominence it deserves.

At this turbulent time for ‘all’ species and our planet, we are determined to inform readers about threats, consequences and solutions based on facts, not on political prejudice or business interests.

WhatsOrb Breaking News will be published as soon as urgent events from around the world and startling sustainable innovations reach us.

If there is anything we should know and publish about, please send a note to: [email protected] or write your own story on: www.whatsorb.comthe only news site which gives you a ‘sustainable voice!’

Vintage Fashion: What Do Consumers Say And Resale Expect?

'I won't buy any clothes from fast fashion stores for a year... and hopefully for ever more'. Could you commit to not buying a single item of clothing from fast fashion outlets for an entire year? To only buying clothes from charity shops, second hand shops, or swapping or borrowing items? Vintage Fashion: What Do Consumers The seven student in this article say they love fashion and insist their boycott of fast fashion won’t be about them turning their back on clothes. Instead, it will be about getting creative and finding sustainable alternatives. Let's read their motivation to buy only vintage fashion. Recommended:  Circular Sustainable Fashion: Biggest Trend Of The Century Vintage Fashion: What Do Consumers Say. Niamh Guiry Age: 22 From: Bishopstown Studying: Microbiology (fourth year) Are vintage clothes second hand? On the other hand, vintage refers to a category contained within the second hand category, which is the category of clothes that, even though have been produced a while ago, still have a good quality and can be worn. Clothing has, generally speaking, a very short life span “I’ve decided to boycott fast fashion because no one should suffer so you can look ‘trendy’. I’m always trying to think of new ways that our society can promote sustainability and the issue of fast fashion has been on my mind for a while. “I had been reading about the atrocious human rights violations that occur in this industry and the amount of pollution and waste it creates and I decided that I wanted to try to make a difference. “I thought that pledging to only buy sustainable and second hand clothes for a year could be a good way to do that. I went into one of our weekly committee meeting and asked if anyone wanted to boycott with me. I was beyond thrilled when six hands shot up in the air. {youtube}                                                     Vintage Shopping In London + Trying On What I Got                                              Vintage Fashion: What Do Consumers Say And Resale Expect? “Over the coming year, I’m going to buy as few clothes as possible. If I want to get ‘new’ clothes I’ll go to charity shops, to swap shops, I’ll ask my friends if they have anything I can borrow. “I have plenty clothes (the same as the vast majority of people) I don’t need any more. “I will admit that I absolutely love clothes and I love expressing myself through the clothes I wear. “Over the next year, I’m going to continue doing just that. You can live and shop sustainably and look good at the same time.” Recommended:  Sustainable Fashion From Bio-Materials Good For The World Vintage Fashion: What Do Consumers Say.Caoimhe Flynn. Age: 22 From: Carrigtwohill Studying: BA International in English and German (final year) “Reports and news coverage have exposed time and time again the human rights abuses on which the fast fashion industry is built. “In the midst of the climate crisis, the mass production of ‘disposable’ clothing is also not sustainable. It results in the use of vast quantities of water, burning of fossil fuels and strain on already limited resources. “I aim to avoid increasing the amount of clothing I currently own. I will, however, replace items which are no longer wearable, particularly those that are necessary.  “In the last two years, I had already begun to shop more in the many second hand and charity shops in Cork.  “If I still cannot find what I am looking for, I will allow myself to buy from brands and companies who are dedicated to sustainable practices. “I do not envisage encountering many difficulties along the way, though I have to change my habit of taking the easy way out when something breaks suddenly. “Not popping into fast fashion retailers to buy little things like socks will probably be more difficult than I imagine! In the end however, I know that what I own is already more than enough.” What are the best online thrift stores? 8 Amazing Online Thrift Stores for the Coolest Vintage Clothes Ever ASOS MARKETPLACE. That's right, ASOS has a vintage website too! The Vintage Twin THREDUP Tradesy Maeven Refashioner LePrix Depop Vintage Fashion: What Do Consumers Say. Isobel O’Connor Sealy Age: 19 From: Tallow, Co. Waterford Studying: Arts International (first year) “I’m boycotting fast fashion because I find it sickening that people work in slave-like conditions making clothes for people like me in developed countries just so we can look fashionable. “I’ll be buying from charity shops, taking hand-me-downs from family, exchanging clothes with friends, and going to swap-shops or kilo-sales to get myself new clothes during this boycott (and hopefully forever more!). “I enjoy knitting and sewing so perhaps I’ll make a few things or spice up some old pieces I have lying around. “I’ve always loved fashion and I find it’s a way for me to express myself. “I’ve also been a big shopper but recently, as I’ve become more aware of the negative impact the fashion industry has on both people and planet, I’ve mainly stuck to charity shops or swapped clothes with friends. “I imagine the allure of online shopping will be a challenge for me, but the knowledge I have now definitely outweighs the convenience of cheap clothing. “Basics, like underwear and socks, could potentially be a challenge too, but sustainable brands do exist should I need anything like that.” Recommended:  Fashion Minimalism, A Capsule Wardrobe: Dream Or Nightmare? Vintage Fashion: What Do Consumers Say. Síofra Richardson Age: 21 From: Cobh Studying: World Languages (second year). “I’ve long been aware of the ethical and environmental violations of the fast fashion industry — I started a boycott myself when I was about 15, though I have since on and off allowed myself to buy various items from high street stores for different reasons. “It felt like the right time to start a proper boycott again, as there is massive momentum for climate action at the moment, and as a group we have the opportunity to have a bigger impact, using the Environmental Society platform where we are a little more visible to our university community. “I absolutely love clothes, though for years I’ve tried not to buy fast fashion. I prefer vintage pieces. I like to think of buying clothes as investments. I use Eco Age’s & wears challenge as a kind of a decision maker as to whether or not I should invest — is it something I will wear 30 or more times? Can I dress the piece up or down, and can it be worn year round? What is difference between vintage and antique? Here is the general rule to remember: Something antique is also vintage, but something vintage isn't necessarily antique. Vintage refers to something that is from an earlier generation. Antique refers to something that is over 100 years old “For my boycott I am going to attempt to buy no new clothes for the year. If I just feel like jazzing up my wardrobe, I’ll take part in a swap shop: bring clothes along to an event where I’ll leave them for someone else to pick up and love hopefully, and find something that was pre-loved. “If it comes to it, I will buy from second hand stores or from ethical companies that are 100% transparent and traceable — this means before investing in a piece researching the company, where it’s based, their human rights record. There are plenty of ethical companies out there though, a little pricier but personally I think it’s worth it. “The challenge I predict right now is formal wear — it’s not impossible to pick out formal dresses from second hand shops but it’s a bit more of a process! “Obviously, if something doesn’t fit you can’t just move up or down a size, so it’s either start all over or if it’s not far off you can get it altered. I have a few formal occasions this year so I’m looking forward to getting creative!” Recommended:  State Of Fashion: Searching For The New Luxury Vintage Fashion: What Do Consumers Say. Rebecca Doocey Age: 20 From: Conna Studying: International Development and Food Policy (second year) “Being able to express myself through what I wear is inherently important to me — but I realised I couldn’t keep doing it at the expense of the planet and the people who worked to make the clothes, so I decided to boycott fast fashion. “Personally, for the next 52 weeks, I want to challenge myself to avoid buying clothes at all, and if I do need something I will only try buying second hand or from a sustainable source (Lucy & Yak are a great online producer of sustainably made clothes in a non-exploitative way). “I used to be a blind consumer, buying whatever I wanted just for the sake of it, until I ended up with a mountain of clothes I neither liked nor needed. “Though we’ve only pledged to give up fast fashion for a year, I plan on changing my consumer habits considerably for the future, buying only the necessities as I’m becoming more interested in a minimalistic lifestyle.” What is a vintage theme? What is a vintage theme? A vintage theme is one that uses items and decor that depicts a certain period in time, or the items themselves are aged Vintage Fashion: What Do Consumers Say. Asha Woodhouse Age: 22 From: Gurranabraher Studying: Environmental Science (4th year) “I’m boycotting fast fashion in solidarity with people that suffer at the hands of mass producing unnecessary clothing for Western society. “The fashion industry must switch to a circular economic model, be transparent and take responsibility in ensuring compliance with workers’ rights and in having minimal environmental impact in its production processes. “If I need to buy something, I usually shop in a second hand store first. “There are some items I prefer to buy new such as sportswear and shoes, but there are plenty of brands that are transparent and sustainable in their production processes. “However, a lot of these brands are pricey, but I think this will help me in putting more thought into it before buying something — although I know I am privileged to be able to do this. “I don’t think I’ll find it too challenging, to be honest, I’ve been conscious of this and shopping in second hand stores since I was about 15. “Most of my favourite clothing is second hand. “The majority of fast fashion items I have bought recently have been with vouchers that I was gifted for birthdays and Christmas. “I think what I will find hard is buying basic items like vest tops, underwear, socks, and clothes for work.” Vintage Fashion: What Do Consumers Say. Nevena Stoya Age: 24 From: Bulgaria, grew up in Spain Studying: Nutritional and Food sciences “I’ve been invested in a fast fashion boycott for over five years now, during which time I’ve been learning how to to minimise generic consumption. “I was brought up in an entrepreneurial family, my father a carpenter and mother a tailor, so producing necessities for myself is not unfamiliar to me. “Avoiding waste is part of the Slavic culture. I always had handmade and unique designs to wear as a kid. I grew to love fashion, but endurance and quality were things I struggled to find in many brands and fashion-houses. “My advice to anyone thinking of following us would be to start from the community education perspective of re-building our habits and lifestyle: use, re-style customise and recycle. Borrow from friends and family, swap in pop-up events locally, learn to fix and sew at Vibes and Scribes workshops and lessons (not only handy but great craic as well) or find your city’s professional tailors (Zipyard, or others). If you really do need to buy something, make it a last resort and do so in a more conscious and aware manner. Buy from charity and second hand shops, donating to meaningful causes or from NGOs such as Oxfam who work preventing clothing ending up in landfill. Buy from small and local outlets, choose organic cotton or recycled and sustainable fibres. “And for more advice, follow the Society’s Instagram page where I’ll feature a Cork guide to sustainable fashion.” Recommended:  Israeli 3D Printed Fashion As Sustainable Works Of Art Vintage Fashion: What Does the Resail Market Expect Reselling platforms are having a moment. This year, Nike took a pair of Air Max 1s off shelves because the shoes showcased an embroidered Betsy Ross. Like clockwork, interest in the kicks exploded. Nike ordered a recall of its new July Fourth-themed Air Max 1 sneakers over concerns about its Betsy Ross flag logo. Prices for the shoes rocketed on the website StockX Currently, on the sneaker resale site StockX, people have bid upwards of $2,700 to nab a pair of the Air Max 1s. And high-end fashion reseller The RealReal debuted on the Nasdaq with much fanfare. StockX, which just raised $110 million in new funding, and The RealReal represent a growing group of retailers once considered niche. Over the last few years, they’ve begun garnering more mainstream attention, causing some proponents to believe resale to be the next big wave in retail. In the U.S. alone, retail sales are expected to hit $3.8 trillion, according to the National Retail Federation. These new platforms exhibit a burgeoning industry, yet challenges lay ahead before they can truly compete with big retail brands. Reselling isn’t new: For decades, people have hawked their already-bought goods via sidewalk sales and thrift and vintage stores. Sites like eBay too provided way for individual sellers to cash in on used goods. Goodwill has been around since 1902. The latest wave of startups for second hand fashion is named; ‘modernized vintage’.” Resale has had a facelift! Vintage Fashion: The State Of Resale Platforms Flashy new resell platforms are catching people’s eyes. There are more consumers who are entering the resale market—both as sellers and as buyers. It is most certainly growing at a very rapid clip. The numbers forecast that the market for resold clothing, accessories, and footwear in the U.S. will hit $51 billion in 2023, more than double what it was last year. Meanwhile, older companies are dabbling with it as well. resale site Fashionphile has begun building out a program for shoppers to sell back their old clothes. H&M is reportedly making similar moves too. Both the startups and the older players tout these programs as moves toward better sustainability; instead of buying something cheap and throwing it out some months later, people can recycle their own fashion. This is the new consumer trend. What types of trends are there? Trend analysis is based on the idea that what has happened in the past gives traders an idea of what will happen in the future. There are three main types of trends: short-, intermediate- and long-term. Beyond the RealReal and StockX there are myriad other online resellers that use a variety of models. ThredUp, for instance, offers a website quite similar to other fashion retailers and department stores. All the clothing it sells, however, is used. People can send ThredUp their own unwanted pieces, for which they can received a small amount of cash or store credit. ThredUp has raised over $130 million in funding and business intelligence platform Owler estimates that the company brings in around nearly $40 million in revenue. Poshmark uses a more direct route, having sellers take pictures and ship their own products to buyers. In 2018, the company reportedly brought in nearly $150 million, and it’s been allegedly working toward going public later this year. Poshmark said it has over 50 million users and over $100 million of inventory is uploaded to its platform every week. Thus far, the company has raised nearly $160 million in venture capital. Modern Retail reached out to Poshmark and ThredUp for comment about the reselling market and their future plans, and they both provided statistics about growth and scale. Still, the overall impact is contested. ThredUp, in fact, commissioned a study (performed by GlobalData) that said the secondhand fashion resale market will eclipse fast fashion by 2028. Vintage Fashion: Challenges Ahead It’s unclear how many people are participating in this new digital resale industry. Only 21% of consumers had ever purchased anything second-hand. While many of these businesses are reporting growing numbers, their sales have yet come close to the billions of dollars in sales that even the ailing retailers are doing. Gap, for instance, reported over $16 billion in sales in 2018. The truth is, that it is hard to believe any of these niche companies getting to that level in the near future.” Still, if ever there were a time to make a splash in the resell market, now would be it. Given the RealReal’s debut and StockX’s massive money raise it inevitable for others to go public soon. There’s growing investors interest at this current juncture. There’s a window of opportunity now. Before you go! Recommended:  Black Friday Not Sustainable At All Especially For Fashion Did you find this an interesting article or do you have a question or remark? 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