Why brands should embrace the resale market: luxury packaging expert Delta Global explains

LONDON, March 31, 2022 /PRNewswire/ -- Second-hand shopping is becoming more prevalent in today's market. Recognised as pre-loved and vintage, second-hand shopping has formed an entirely new industry – resale.

Because of the shift in consumer demands, combined with the need for a more sustainable future, the resale market is set to reach £67bn by 2025. 

Here, founder and Chief Client Officer of international luxury and sustainable packaging provider Delta Global, Robert Lockyer discusses the future of retail and what this means for the industry. 

The fashion industry as we know it is currently dominated by fast fashion. And although many consumers seek affordable products, they are no longer willing to compromise price in turn for negative environmental impacts and increased personal carbon footprints.

The good news? The resale market is predicted to be twice the size of fast fashion by 2030.

A change in tactics 

Traditionally, luxury brands felt that pre-loved shopping weakened both brand and product value.

Now, with brands focusing on consumer experience, limited edition retail is becoming increasingly popular.

While there may be a small associated risk with collaborating with brands within the resale market, I believe that it is a risk worth taking.

Online and brick-and-mortar marketplace The RealReal is renowned for its pre-owned authenticated luxury goods, and 40% of its shoppers are replacing fast fashion with resale, with many also opting for resale because of its sustainability efforts.

Why resale? 

Pre-loved shopping is now a much more premium market with many destinations readily available for consumers to source pre-loved luxury items.

Generation Z isn't called the sustainability generation for no reason – they prefer to buy sustainable brands and are even willing to spend more on sustainable products, and 70% of 16-19-year-olds stated that sustainability is an important factor when purchasing fashion items.

Whilst quality over quantity is a contributing factor to the purchasing decisions of consumers, shopping second-hand also reduces emissions with resale having less of a detrimental impact on the environment - something that both brands and consumers are passionate about.

Pre-loved luxury marketplace Vestiaire Collective is continuing to lead both the change and the resale industry. 

Having just acquired US peer-to-peer resale platform Tradesy, the resale market is set to catapult globally, and luxury brands should welcome this new era of luxury retail.

With many people associating "second-hand" shopping with worn, fast fashion hand-me-downs, it is important for the industry to notice this drastic shift.

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