- June 28, 2021
- Posted by: Stratford Team
- Category: Business
Retail’s love affair with re-sale shows no signs of stopping with Etsy’s $1.6 billion purchase of … [+] British Fashion App Depop
Retail’s biggest new trend isn’t so new at all: it’s all about resale.
The recent acquisition of Depop by Etsy for $1.6 billion cements it. Appealing to a conscious consumer who is growing increasingly concerned about fast-fashion, it has emerged as one of the biggest shifts in retail in recent years, with a new global report by market research firm GlobalData finding that the secondhand clothing market is growing 11 times faster than traditional retail, and is estimated to be worth more than double that of fast fashion, at $84 billion by 2030 (while fast fashion projected to be worth around $40 billion at the same time).
It’s no surprise, then, that retail giants on all ends of the market have been strengthening their position in resale: Gucci has recently launched a luxury consignment online…