The resale economy is thriving online, and IRL and could be coming after fast fashion retailers. Digital consignment store ThredUp’s recent report projects that the resale market will more than double from $20 billion to $41 billion by 2022, accounting for more of the market than fast fashion by 2027. What’s driving the shift? Values-based buying by young consumers: Ypulse data found that 40% of 18-35-year-olds are more likely to buy a product labeled as “eco-friendly” and 44% are influenced by the label “sustainable.” (The Cut, Racked)
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