Consumers across all generations are willing to spend more for sustainable products. It doesn't matter if they are new products or second-hand ones. In this context reselling used items is becoming a more and more interesting opportunity.
The great thing is that this activity is not limited to consumers as companies can do it too. Let's find out about some of the benefits.
The many benefits of reselling
1) Benefits of reselling for people who buy pre-loved fashion
The main reasons why reselling is beneficial for anyone who wants to have a fashionable closet are two:
- They can get access to designer clothes at a fraction of the cost: Reselling makes it possible to get designer clothes at a reasonable price, which is especially important for customers in countries with higher prices and taxes, or for students, and those who can't afford the price of the new products.
- They can find unique and vintage items that are no longer available in stores: Reselling gives people access to old collections, limited edition pieces, as well as vintage clothing that has been hard or impossible to find otherwise.
2) Benefits for people who want to resell fashion items
The world is populated by a very high number of people whose closets overflow with clothes that have never been used or are still in excellent condition. These people can benefit from reselling because:
- It's a great way to make some extra money: Reselling can be a great side gig to make some extra money, as many resellers end up making more than they expected. People don't need to have any marketing skills: reselling doesn't require any previous knowledge about fashion or retailing.
- It is in line with the eco-friendly trend: Many people are willing to reduce their ecological footprint by changing their behaviour, even when it comes to purchases. Reselling helps these people to create a circular economy and to reduce the amount of waste they produce.
3) Benefits of reselling for companies
Companies can resell their items too, and this is a great idea under many aspects. For example:
- Reselling gives more control over the second-hand market: The second hand market is threatened by counterfeiting. Consumers often don't have the certainty that the product they are buying is original or fake, while companies until now cannot intervene in the second life of their products. However, brands that deal with the direct reselling of their products are able to cut counterfeiters out of the market and guarantee the authenticity of the products to the buyers. By adopting digital product authentication, brands can actually gain back some control over the resale of their products, even on third party market places, which we will explore later in this artcile.
- It provides an additional revenue stream: Companies can resell their old collection or used products at a lower price, still making some profit
- It helps to get rid of excess stock: As said before, reselling is a great way to get rid of items that haven't sold in stores or online, instead of destroying them. This saves money and reduces a brand’s environmental impact.
- Reselling can help companies improve their image, gain visibility, and attract more customers: It helps companies reach out to a wider audience, more attentive to sustainability. It's also an excellent way of creating brand loyalty and building trust with customers.
- It improves waste management: reselling clothes helps to reduce waste, thus reducing the cost associated with waste management and disposal.
- Reselling allows companies to reuse materials and reduce their ecological footprint: It helps reduce the negative environmental impacts associated with the manufacturing and distribution of new clothes, including water consumption, energy use, and gas emissions.
