The global apparel re-commerce market is booming with the rise of online platforms for pre-owned fashion. This convenient marketplace allows consumers to buy and sell garments and accessories, including footwear. The surge in B2C e-commerce, fueled by internet accessibility, has contributed to the growth of online apparel.
E-commerce sales are projected to reach $2,671 billion at a CAGR of 17.5%. The apparel re-commerce segment is witnessing increased demand as consumers are attracted to luxury items and the opportunity to resell them.
Apparel re-commerce platforms offer services like inventory photography and pricing assistance, along with peer-to-peer marketplaces for price comparison and direct connections. Major companies are investing heavily to drive sales growth. Seasonal inventory, luxury investments, brand momentum, and millennial involvement are driving market expansion.
Key players in the market include Vestiaire Collective, The RealReal, Tradesy, Poshmark, ThredUP, Vinted, SnobSwap, and Threadflip. These companies have collectively invested over half a billion dollars since 2009. Social media, especially among millennials, presents a significant opportunity for apparel re-commerce.
By leveraging platforms like Depop, companies can reach a large customer base through interactive features and user engagement. Depop boasts over 5 million users and monthly sales of 500,000 items, showcasing the potential of social media-driven re-commerce.
In conclusion, the global apparel re-commerce market is expected to grow at a CAGR of 24.6% until 2032. Players can capitalize on the demand for pre-owned fashion, online convenience, and social media influence to drive sales and expand their customer base.