Sabira and Garr hang out with Karin Dillie to gain insights from her career spanning from Sotheby's, The RealReal, Recurate and more!
As we dive in, we learn that this is just the beginning for the trends of re-commerce, what consumers want and the future of fashion resale!
As a market, fashion resale is expected to continue its growth trajectory over the next decade for several reasons:
Sustainability Emphasis: As environmental concerns grow, consumers are becoming more conscious of their fashion choices. Resale aligns with sustainable practices by extending the lifespan of garments and reducing the need for new production.
Changing Consumer Attitudes: Younger generations are placing more value on experiences and uniqueness rather than traditional notions of ownership. Resale allows them to access unique, vintage, and designer items without the hefty price tags.
Digital Transformation: Online platforms have made it easier for buyers and sellers to connect in the resale market. Continued advancements in technology will enhance user experiences, making online resale more convenient and efficient.
Traditional Retail's Involvement: Traditional fashion retailers and luxury brands are recognizing the resale market's potential. Some are partnering with or creating their own resale platforms to tap into the growing demand for second-hand items.
Increased Acceptance: Resale was once stigmatized, but it's now becoming more mainstream. As more people participate and openly discuss their resale activities, the perception of second-hand fashion is shifting positively.
Circular Economy Focus: Governments and organizations worldwide are promoting circular economy models, and fashion resale fits into this framework. Policies and incentives that encourage sustainable practices could further boost the resale market.
Rise of Rental and Subscription Services: The popularity of fashion rental and subscription services may drive interest in resale. As consumers experiment with different ways of accessing fashion, resale could complement these models.