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The Future of Fashion Resale

Understand the growth and opportunity within the fashion resale market and develop a data-driven resale strategy with BoF Insights.

Secondhand fashion has existed for decades, primarily in thrift and vintage stores, but the advent of online resale platforms has led to a step change in how used items can be bought and sold. Since 2019, there have been at least 13 new resale entrants, 6 new resale-as-a-service launches and 14 major brand partnerships. More brands and retailers are exploring their own resale strategies to attract new customers and become more sustainable. But with just a small proportion of resaleable fashion being tapped into by consumers, brands and retailers will increasingly seek to actively manage resale as a key retail channel.

In this new report, BoF Insights offers its perspective on how we think about the upside of the industry, how we believe the landscape will evolve, and how we recommend brands and retailers build their own strategies.

The Future of Fashion Resale is the first in-depth analysis to be published by the BoF Insights Lab, a new data and analysis unit offering from The Business of Fashion that arms business leaders with proprietary and data-driven research to navigate the fast-changing global fashion industry.

Publication Date: July 2021
Length: 123 pages
File Format: PDF

Table of Contents

  • Industry Evolution
  • Industry Maturity
  • Platform / RaaS / Brand Partnership Launch Timeline
  • Case Study: Automotive and Consumer Electronics Industries 
  • Market Size (US, Global)
  • Market Growth 
  • Growth Drivers
  • Upside Analysis
  • Platform Business Models
  • Resale-as-a-Service Business Models
  • Platform Awareness
  • Market Share
  • Venture Funding
  • Case Study: Etsy’s acquisition of depop
  • Consumer Penetration
  • Consumer Upside
  • Consumer Purchase Intent
  • Consumer Motivations and Attitudes (for Existing Resale Customers)
  • Motivators to Convince Current Non-Resale Customers
  • Distinction from Mass Fashion Resale
  • Impact of Resale on Luxury Brand Perceptions
  • Market Size (Global)
  • Global Growth Forecast
  • Share of Luxury Resale of Total Global Resale
  • China Impact on Luxury Resale
  • Market Maturity
  • Consumer Penetration
  • Competitive Landscape
  • Platform Awareness
  • Consumer Motivations and Attitudes (for Existing Resale Customers)
  • Motivators to Convince Current Non-Resale Customers
  • Impact of Resale on Luxury Brand Perceptions
  • Case Study: Streetwear and Luxury Limited Editions
  • Understanding the Dynamics
  • BoF Community Survey on Current Company Engagement with Resale
  • Framework for Engagement
  • Case Study: E-Commerce and Outlets
  • Case Study: Product Lifetime Value
  • Case Study: Blockchain Applications

Why Buy this Report

  • The report provides a comprehensive overview of fashion resale that deepens the understanding of all current or would-be industry participants
  • Brands and retailers can leverage our framework to develop data-driven strategies for entering resale and/or enhancing their current tactics and initiatives
  • Investors can identify and stay abreast of challenges and opportunities in the fast-moving resale space

Research Inputs

  • 37 interviews with the founders, CEOs, and executive teams of leading resale platforms, Resale-as-a-Service (RaaS) companies, brands, and retailers
  • Consumer surveys in the US, UK, France, and Germany fielded by YouGov on behalf of BoF, with results weighted to be nationally representative
  • Consumer omnibus in China fielded by YouGov on behalf of BoF, with results weighted to be representative of the online population in Tier 1-3 cities
  • Consumer survey of BoF’s global community of fashion professionals
  • Proprietary quantitative analyses of industry penetration, size, and growth
  • Companies covered in the report include thredUP, Tradesy, Vestiaire Collective, depop, Poshmark, The RealReal and many other emerging and established RaaS companies and platforms