Resale is shaping up to be one of the big winners of the pandemic. Even as wider fashion sales slump significantly, the secondary market is exploding. According to a recent report by ThredUp, online second-hand sales of fashion goods are set to grow 69 percent between 2019 and 2021, as sellers clean out their closets for extra cash, and Covid-wary buyers avoid physical stores and seek bargains online.
In the luxury segment, second-hand sales are heating up, too. Luxury resale is set to grow 15 to 20 percent each year over the next five years, faster than the overall luxury market, which was growing in the low single digits before the pandemic, according to Boston Consulting Group.
Over the last decade, the luxury resale space, once dominated by eBay, has birthed a wave of “eBay meets Net-a-Porter” platforms like Vestiaire Collective and The RealReal, which offer curation, authentication and hassle-free