27 July 2021
Digitization and the trend towards more sustainable and environmentally friendly products have definitely boosted recommerce or second-hand commerce. The global recommerce market is expected to grow between 15% and 20% annually over the next five years (Institut Français de la Mode). The growth is due in large part to the change in the mindset of consumers, especially the younger generations, who are more aware of the need to preserve the planet.
Recommerce is expanding in many sectors, but, without doubt, fashion is what’s driving this transformation. In this case, in addition to environmental issues, the growing predilection for retro and vintage style fashion has a lot to do with it, which finds its best sideboard on the second-hand market. Consumers look in this market for values such as differentiation, originality, creativity, individuality, environmental commitment or authenticity.
The economic crisis derived from the pandemic is also consolidating even more the trend towards new, more affordable consumption alternatives that reduce at the same time the impact on the planet's resources.
Curiously, big brands such as Gucci or Stella McCartney have already joined this new business model based on the circular economy and that, precisely, enables consumers to buy second-hand luxury clothing at low prices. Also brands such as COS and Levi’s have presented their online resale platforms, so that collections can be inherited collection after collection. But in the world of recommerce, the leading role is not only taken by established names, but also initiatives by individual citizens who are aware that a model based on the constant replacement of new garments is totally unsustainable in an economy that has inevitably to move towards the use of resources.
The recommerce market, which has great growth potential, must find its equilibrium point so that it becomes not only a new business route for large multinations and large online operators but also to offer opportunities spontaneous initiatives that emerge among citizens.