Spotlight: Recommerce News Highlights
#SeeingGreen - Recommerce news highlights: US, Japan, Sweden, UK dominate secondhand. Ebay Recommerce Report: secondhand as lifestyle choice. Fashion rental makes a comeback. Pre-owned furniture sales growth. Winmark / Impex fitness equipment resale partnership. New funding rounds for recommerce players PopChill, Faircado, Semexe. And much more...
Brands in the news: Public Desire, eBay, Nuuly, Rent The Runway, PYMNTS, Winmark – the Resale Company, Impex, Mytheresa, Vestiaire Collective, Beni, SHEIN, PopChill 拍拍圈, Faircado, Semexe, Hudson Jeans, Treet, Gucci, Pickle, Vivrelle and many more.
US, Japan, Sweden and UK dominate the second-hand market, according to Public Desire study
“Conducted by Public Desire, a global online footwear brand, a study focusing on thrift culture highlights the countries where second-hand shopping is the most popular.”
Luxury brands are teaming up with resale platforms. Can we expect a resale boom?
“Luxury pre-worn fashion lies just a click away. As part of The Drum's retail focus week, Wendy Karlyn of Rightpoint explains how resale platforms might beat luxury brands at selling their own clothes.”
Ebay Recommerce Report Finds that Buying Used is Becoming a Lifestyle Choice
“Ebay, the OG of online resale, has released its fourth annual Recommerce Reporthighlighting what many of us already know anecdotally — that the sale of secondhand goods is growing across categories and channels, especially as economic conditions continue to push consumers to seek out value pricing.”
Fashion Rental Market Makes A Comeback—As Gen Z And Millennials Revive Brands Like Nuuly, Rent The Runway
“The fashion rental industry, severely impacted by the pandemic, is seeing a resurgence as the two major players—Nuuly and Rent the Runway—report growth alongside the emergence of smaller clothing rental platforms, driven by Gen Z consumers.”
From Resale to Rentals: The Rise of Recommerce
“Recommerce – which includes reselling, renting, refilling, repairing or reusing goods – is already an extremely valuable business model, estimated by Barclays to be worth almost £7 billion ($8.9 billion) in the United Kingdom, alone, and expected by Visa to increase globally to £82 billion ($104.3 billion) by 2030. This growth, particularly with respect to resale, is widely regarded as being driven by younger consumer demographics like Gen Z, over two thirds of whom now prefer to buy second-hand over new goods, in part, due to sustainability concerns.”
One-Fifth of Secondhand Shoppers Bought Pre-Owned Furniture Last Year
“For the “Consumers Shop Secondhand Stores as Often as Other Retail” installment of the “Consumer Inflation Sentiment Report” series, PYMNTS Intelligence surveyed more than 2,300 U.S. consumers to understand how inflation and increasing retail prices changed their shopping behavior. The study found that among the 43% of consumers who used secondhand channels to make retail purchases last year, 1 in 5 did so to buy furniture.”
Winmark - the Resale Company Announces Resale Partnership with Impex and Marcy
“Winmark Corporation announced today that it has entered into a partnership as the Official Resale Partner of Impex, Inc, the industry leader in fitness manufacturing for more than four decades with brands such as Marcy, Steelbody and Bionic Body. Through its more than 290 Play It Again Sports franchised locations, Winmark together with IMPEX will partner to extend the life of fitness equipment and provide consumers with a quality retail resale option that's both focused on circularity and value.”
Hudson Debuts Archival Collection, Resale Marketplace
“Centric Brands-owned Hudson Jeans is the latest label to step into resale. The Los Angeles premium denim nameplate launched Re:Hudson, an online marketplace created for pre-loved Hudson styles. The marketplace is managed by resale platform Treet, which has launched more than 150 retail programs with its turnkey service.”
Mytheresa expands resale service with Vestiaire Collective in EU, The UK and The US
“The luxury multi-brand digital platform Mytheresa is expanding its partnership with Vestiaire Collective, the global platform for pre-loved luxury fashion, offering its exclusive resale service to all its customers in EU, The UK and The US. The partnership, which offers Mytheresa customers a quick and easy selling service for pre-loved items, launched in June 2021, initially for Mytheresa´s top customers in Europe.”
Beni helps save while secondhand shopping
“A new app and browser extension called Beni can help you find what you are looking secondhand at big savings.”
Shein Begins Extending Resale Platform to Europe, Starting With France
“Shein has begun extending its resale platform to France, the United Kingdom and Germany. The platform will be expanded in phases. It is now available in France and will be extended next to the United Kingdom and then to Germany, the fashion and lifestyle retailer said in a Monday (June 3) press release.”
Taiwan Luxury Resale Marketplace PopChill Finalizes $3.1M Funding Round
“PopChill, a luxury resale marketplace operating in Taiwan and Hong Kong, announced Wednesday that it had finalized a $3.1 million Pre-A+ funding round. The company said in a statement that it secured an additional $1.3 million, bringing the total funds raised in this round to $3.1 million, inclusive of the earlier announced $1.8 million.”
Faircado Raises $3.3 Million for AI-Powered reCommerce Platform
“Faircado has raised €3 million (about $3.3 million) to continue building its artificial intelligence (AI)-powered reCommerce platform… Faircado’s AI-powered browser extension is designed to “solve the secondhand problem” by helping users find preowned goods, according to the post.”
Semexe raises $760K to expand its re-commerce solution Loopify
“Brazilian sports gear marketplace Semexe raised $760K from Hiker Ventures to expand Loopify, its B2B circular economy solution. Loopify is a white-label platform that enables companies to resell used, returned, and refurbished products and to offer trade-in programs in which customers exchange used products for credits toward new purchases.”