The latest Resale Report commissioned by ThredUP, a sustainable enterprise that sets out to modernise thrifting through re-commerce, summarised the radical transformation of resale business model within the industry. The report aims to showcase the influencing power of the resale model and consumers in the post-pandemic era, and the opportunities to revamp the conventional business model through collaboration across the industry. 

In the pre-pandemic world where corporates and consumers cling to a linear economy, purchase-use-discard is one of the habitual product lifecycles adopted in the market. With that said, this explains why the fast-fashion crisis has long been used to describe the apparel industry - one of the world’s most polluting industries. 

In the US, 

- 9 billion clothing items were barely worn or sitting idle in consumers’ closets 

- 36 billion clothing items were thrown away each year while 95% of which could be recycled or reused

The data supports the impact of the linear economy, how and why natural resources are exploited ceaselessly, and how wasteful the industry is.

When working from home, shopping online, and maintaining social distancing with more me-time has become the new norm, consumers did seize the time to rethink the consumption pattern. Needless to say, pandemic, a momentum or turning point rather than a solution, has been paving the way for nurturing more purpose-driven consumers within the market. 

The report found that 1 in 3 interviewed consumers assure that they care more about sustainable apparel now than the pre-pandemic times while sales reflect the resale market is stronger than ever. In addition, 42% of consumers in general and 53% of Millenials and Gen Z indicate their willingness to spend more on secondhand in the next five years. On top of that, 43% of consumers are more likely to shop with a brand with discarded clothes trading services. To sustain the business prospect and manage client loyalty, fashion retailers have to alternate the business model and incorporate resale features. In this regard, the report also interviewed the relevant stakeholders and ascertained 60% of retailers have or are open to offering secondhand to cater to the emerging trends of thrifting in the US. 

Data aside, the report not solely revealed the phase-out of fast fashion in the post-pandemic era, yet also demonstrated how the arising consumer awareness became the driving force to transform the linear business model in the apparel industry.