Fashion has joined recommerce, with superbrands Levi’s and Gucci the latest to adopt reselling in a secondhand market projected to more than double to $51 billion by 2023.
As consumers become driven more by sustainability, there are glimmers of early uptake beyond fashion. Recent data from YouGov found 17 per cent of retailers will start selling secondhand items in 2021, with 32 per cent considering offering product recycling.
Yet recommerce, often recognised as buyback schemes, is not new, IBISWorld analyst Gaetana Mak notes, with adoption across the wider retail sector leaning towards higher-value items.