{"id":4041,"date":"2021-06-21T08:20:59","date_gmt":"2021-06-21T08:20:59","guid":{"rendered":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/?p=4041"},"modified":"2023-01-09T07:17:40","modified_gmt":"2023-01-09T07:17:40","slug":"secondhand-market-a-rising-trend","status":"publish","type":"post","link":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/secondhand-market-a-rising-trend\/","title":{"rendered":"Secondhand market a rising trend"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4041\" class=\"elementor elementor-4041\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-16def0e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"16def0e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d427425\" data-id=\"d427425\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9b91feb elementor-widget elementor-widget-image\" data-id=\"9b91feb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"820\" height=\"420\" src=\"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-content\/uploads\/2021\/06\/Resale-market_photo.jpg\" class=\"attachment-full size-full wp-image-4043\" alt=\"\" srcset=\"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-content\/uploads\/2021\/06\/Resale-market_photo.jpg 820w, https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-content\/uploads\/2021\/06\/Resale-market_photo-300x154.jpg 300w, https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-content\/uploads\/2021\/06\/Resale-market_photo-768x393.jpg 768w\" sizes=\"(max-width: 820px) 100vw, 820px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f1be783 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f1be783\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fc9d297\" data-id=\"fc9d297\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-df66e1a elementor-widget elementor-widget-text-editor\" data-id=\"df66e1a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>More shoppers are turning to the secondhand market for something cheaper and potentially greener as the overproduction of clothing increasingly add to landfills. <strong>The trend appears to have been accelerated by the\u00a0<\/strong><strong>pandemic<\/strong><strong>,<\/strong>\u00a0as more shoppers looked to declutter wardrobes and earn cash by selling their old\u00a0clothes\u00a0or set up fashion\u00a0customization businesses from their bedrooms.<br \/><br \/>At the same time investor appetite is also on the rise. According to the Boston Consulting Group, <strong>the global market for pre-owned apparel is worth up to $40 billion a year<\/strong>, about 2% of the total apparel market. It is expected to grow 15 to 20% annually for the next five years.<\/p><p>Depop, the fashion resale marketplace beloved by Generation Z was acquired by Etsy\u00a0for $1.6 billion underscoring the growing influence of clothing resale platforms.<\/p><p>Depop, which was founded in 2011, has been particularly successful in building a marketplace for younger consumers, who are adopting secondhand fashion faster than any other group. 90% of its users are under 26, with 30 million users across 150 countries. The platform is particularly known for its vintage clothes and streetwear \u2014 and for creating\u00a0a new cohort of online influencers\u00a0famous for selling their wares.<\/p><p>\u201cWe are simply thrilled to be adding Depop \u2014 what we believe to be the resale home for Gen Z consumers \u2014 to the Etsy family,\u201d said the Etsy chief executive, Josh Silverman.<\/p><p>He said he believed the platform had \u201csignificant potential to further scale\u201d and said that he saw \u201csignificant opportunities for shared expertise and growth synergies\u201d for Etsy\u2019s apparel sector, which was valued at $1 billion last year.<\/p><p>Source: <a href=\"https:\/\/www.nytimes.com\/2021\/06\/02\/business\/etsy-depop.html\">The New York Times<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The trend appears to have been accelerated by the pandemic.<\/p>\n","protected":false},"author":1,"featured_media":4043,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,4],"tags":[7,12],"_links":{"self":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/posts\/4041"}],"collection":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/comments?post=4041"}],"version-history":[{"count":0,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/posts\/4041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/media\/4043"}],"wp:attachment":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/media?parent=4041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/categories?post=4041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/tags?post=4041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}