Snapchat’s growth is continuing with their investment in Galaxy, a resale platform for Gen Z. Social media platforms have been expanding their businesses by turning to ecommerce, and Snap is confident in the secondhand industry. According to a ThredUp survey, “The secondhand U.S. market is expected to more than double to $82 billion by 2026,” and that Gen Z and Millennials are particularly interested in resale, “with 62% saying they look for secondhand options before buying new.” Galaxy stands out from competitors like Depop by having filters for style options such as vintage, designer, or hand-made. Users will also be able to view videos from creators who recommend certain items. YPulse research shows that one of the top fashion trends Gen Z and Millennials are (equally) interested in is secondhand clothing. (Retail Dive)
