What industry do you work in and what is your role?
What are your responses in your role / position?
Can you describe to the function of your workplace / company?
How many departments, how many offices. National or International?
What are the minimum requirements for employment ie Education or Experience?
How many opportunities are there to ‘move up the ladder’?
What is the process for changing job roles ie Interview? Test?
————————————————– —— ——————————————————
General discussion about your workweek:
Current projects? Deadlines? Opportunities?
Anything of interest happening?
————————————————————————————————————
Article
1.
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.
2.
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.
3.
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.
Why do you think there has been such considerable growth and continual expected growth in this market? Let’s break down some possible reasons
4.
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.
5.
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.
6.
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.
What is your opinion on used fashion, have you ever/do you buy or sell used clothes? Do you agree that peoples attitudes have changed over time?
7.
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.
8.
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.
