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Resale Set To Be Star Of Retail In 2022 For Consumers And Brand

Forbes | January 17, 2022

With a global desire to shop responsibly and sustainably – resale is predicted to be a major player in the retail landscape for 2022. To be a real success, resale needs to blend with online selling, with e-commerce set to explode over the next few years. One of the biggest challenges for retailers and brands has been understanding how to monetize resale on their own platform. As with many retail innovations, technology is leading the way.

Leading tech integration recurate has a bold vision - to enable brands to create their own resale platforms directly on their e-commerce sites. For retail as a whole, and especially small business, innovation such as this will ensure the industry moves forward meeting the needs of the customer as well as the planet. Allowing customers to resell items they previously purchased from a brand or business on their e-commerce site offers a seamless, brand-loyal experience for consumers, as well as offering brands and retailers the potential to keep resale, a fast growing market, within their own business. With fast growth in consumer purchasing, the case for adding resale to an existing business is becoming stronger. This innovative route to resale has the potential to transform the retail industry's green credentials.

Resale is a major conversation in the fashion industry and one of the fastest growing consumer behaviors. In the US alone, over 33million consumers bought second-hand apparel for the first time in 2020. The resale market is projected to double in the next 5 years, reaching $77billion. With the technology needed to power resale becoming more accessible to all, 2022 should be the year that all retailers and brands, both big and small, consider resale.

Read the full article here

#retail #resale #sustainability #innovation

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