Single parents, seniors, and students have long made use of secondhand shops to save money and get things they need on a limited budget. But small businesses and people of means have joined the thrifting sect. According to CNBC, the resale market is expected to grow to 53 billion in 2023. Consider these reasons why resale is the new retail and secondhand is chic.
Cost and Value
Used or resale items are less expensive than new items. Some can cost significantly less. And with the growth of online resale shops, thrifting is no longer the enormous time-sink it used to be. Buyers can search for exactly what they want among the online inventories of resellers.
Sustainability
There was a time when shopping at a thrift store was something to be embarrassed about. Now, it’s a badge of honor. Fast fashion quickly fell from favor as millennials and Gen Zers realized the enormous waste it created. Sustainability has become an urgent concern as the ocean floor fills with plastic waste, and landfills pile up with materials that won’t break down for centuries. Buying secondhand bestows a sense of virtue that can’t be denied.
The relentless accumulation of stuff has become burdensome. During the pandemic, people working from home began to realize that they simply don’t need as much as they once thought. Many used the time they once spent commuting to clean out garages, closets, and basements and donate piles of things they no longer needed.
In turn, others found that thrifting everything from clothing and shoes to dinnerware and furniture felt like a more responsible choice. It’s been a win-win for donors and buyers alike.
Supply
Thrift stores don’t have supply chain problems. Major retailers and manufacturers, from JC Penney to Gap, Adidas, and even Walmart, which has always been known for lower prices, have teamed up with reseller ThredUp to offer secondhand items.
Small businesses, farmers, ranchers, construction companies, and manufacturers have long known the benefits of buying used equipment. With care, these businesses can get equipment that does everything they need it to do for less money. Reputable resellers often offer parts, maintenance, and repair services, too.
Rarity
Finally, interest in antique, vintage, and rare items has sparked a trend in luxury or rare resale. When it comes to unique and rare items, resale has always been the new retail, with secondhand stores specializing in vintage chic. According to Forbes, even Gucci has launched a consignment store. The RealReal is an online reseller devoted to luxury fashion. Other resellers offer new, in-box items that collectors pay premiums to get. Assembling a vintage outfit or scoring a cool midcentury coffee table has become the stuff of Tik-Tok and Instagram celebrity.
Whether you’re looking to put together a vintage look, or your business needs replacement equipment at a reasonable price, resellers are ready to help you find the things you need.
