Warm upItems for sale are displayed at a RealReal Inc. store in San Francisco, California, U.S
- [responsivevoice voice = “US English Female” buttontext = “”]What industry do you work in and what is your role? [/responsivevoice]
- [responsivevoice voice = “US English Female” buttontext = “”]What are your responses in your role / position? [/responsivevoice]
- [responsivevoice voice = “US English Female” buttontext = “”]Can you describe to the function of your workplace / company? [/responsivevoice]
- [responsivevoice voice = “US English Female” buttontext = “”]How many departments, how many offices. National or International? [/responsivevoice]
- [responsivevoice voice = “US English Female” buttontext = “”]What are the minimum requirements for employment ie Education or Experience? [/responsivevoice]
- [responsivevoice voice = “US English Female” buttontext = “”]How many opportunities are there to ‘move up the ladder’? [/responsivevoice]
- [responsivevoice voice = “US English Female” buttontext = “”]What is the process for changing job roles ie Interview? Test? [/responsivevoice]
- [responsivevoice voice = “US English Female” buttontext = “”]Current projects? Deadlines? Opportunities? [/responsivevoice]
- [responsivevoice voice = “US English Female” buttontext = “”]Anything of interest happening? [/responsivevoice]
1.[responsivevoice voice = “US English Female” buttontext = “”]Resale merchandise is very popular with young people and now accounts for over 10 percent of all apparel sales. Projections are for sales to grow double digits in the next five years, making it an enviable growth industry.[/responsivevoice]
2.[responsivevoice voice = “US English Female” buttontext = “”]Resale platforms like ThredUp, Tradesy, Depop, and RealReal REAL are already established and have raised billions of dollars to date, and new companies are joining the fray. Welcome Vestaire Collective, which is completing a round of fundraising for approximately $210 million, and Grailed, which is seeking $60 million.[/responsivevoice]
3.[responsivevoice voice = “US English Female” buttontext = “”]In addition, there are new partnerships – such as Adidas with ThredUp and Net-a-Porter with Reflaunt. This highlights the strength of the resale merchants and the participation of direct sellers. Even Gucci has developed a shop within RealReal.[/responsivevoice]
4.[responsivevoice voice = “US English Female” buttontext = “”]Reliable estimates have the global fashion market of second-hand merchandise at $130 billion. Legacy retailers are taking the industry more seriously as it has grown and attracts young fashion customers (Gen-Z) who like some of the brands and want to own some of them. These retailers cannot ignore this trend because they need to capture those young customers into the future as well.[/responsivevoice]
5.[responsivevoice voice = “US English Female” buttontext = “”]Here are some reasons why the growth is accelerating.
1. Well Managed and Marketed: Platforms that offer second-hand merchandise are organized and more inviting to shop these days.
2. Brand Appeal: The values and brands attract young people who never dreamed of buying designer labels.
3. Buy Now Urgency: There are limited quantities of designer fashions – making a discovered gem a ‘must buy right now’ item.[/responsivevoice]
6.[responsivevoice voice = “US English Female” buttontext = “”]4. Stigma Gone: There is reduced stigma to buy secondhand fashion as customers see friends brag about their discoveries.
5. Retailer Validation: Major retailers like Macy’s M , Kohl’s KSS , JCPenney JCP , and Gap GPS have offerings of second-hand clothes. This gives this merchandise a legitimate patina.
6. Widespread Acceptance: There is a global acceptance of resale shopping – you see it gaining momentum in markets including U.S., Canada, United Kingdom, France and Germany. All these markets are sustaining strong sales.[/responsivevoice]
7.[responsivevoice voice = “US English Female” buttontext = “”]Resale of second-hand merchandise is not new; it has been strong in durable goods for quite some time. I can think of computers and, particularly, automobiles. And now, the pandemic has pushed demand even higher. Used car sales have been particularly strong in recent months. [/responsivevoice]
8.[responsivevoice voice = “US English Female” buttontext = “”]The frenzy is due to the lack of computer chips (reducing production and availability of new car inventories), and this has boosted used car prices by as much as +45%. Some dealers say they have no used cars for sale. Dealers say that everything is selling from luxury vehicles to basic cars that parents may buy for their teenagers.[/responsivevoice]
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