Retailers Are Tapping Into Growing Market of Secondhand Sales
Secondhand fashion and sales are growing rapidly, with apparel resale revenue expected to grow from $24 billion to $51 billion within the next five years. Companies such as Poshmark and The RealReal are expected to grab a lot of the new business. While some retailers are rejecting the idea of tapping into the secondhand market, other retailers are jumping in feet first.
Patagonia, REI, Eileen Fisher, and most recently Taylor Stitch have signed on to let Yerdle do the heavy-lifting on the logistical backend to receive, process and price returned goods, including a white label e-commerce platform, which is then linked to the companies’ own websites, or in the case of Eileen Fisher, more Eileen Fisher Renew items are finding space in the company’s own stores.
Read more at Forbes.