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Coming around again: the rise of re-commerce

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Coming around again: the rise of re-commerce

According to Thredup’s 2020 resale report Uruguay Phone Number List, the secondhand market will reach $64bn in value by 2024. Resale, where people sell their pre-loved possessions, will overtake the traditional model of donating and buying goods at thrift stores.

The second-hand trend has been given a push by the COVID-19 crisis. Many consumers have had to tighten their belts because their finances have been affected. Others will have found themselves rethinking their buying habits out of a shift in their values. Climate change and the waste and pollution that comes from over-consumption are issues that have been growing more urgent since well before the pandemic arrived.

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Younger generations, especially, care about these issues, and they seek out brands that have found ways to “close the loop” – keep things out of landfill by recycling and re-using, and use the earth’s resources in a more responsible, less wasteful way.

Brands that know this and are embracing it include flat-pack furniture giant IKEA, which recently launched a ‘take-back’ service that allows customers to bring their products back to the store to be resold, in return for vouchers. We think more brands will devise similar schemes in the year to come.

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