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Industry insiders explore the causes of increased demand for beloved items
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When it comes to vintage fashion, business is booming.
The global used goods market is expected to reach US$350 billion by 2028, according to online consignment platform ThredUp’s 2024 Resale Report. This means that there is a large amount of used clothing in circulation.
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This prediction comes as little surprise to Kathleen Talbot, chief sustainability officer at Reformation, who points out that the increased interest in favorites ” boils down to three main drivers.
“Consumers are becoming increasingly aware and concerned about reducing their impact on the environment. They are also battling rising costs of living and looking for more affordable ways to dress.” Talbot he says. “Last but not least, it’s fun. Buying second-hand items is like a treasure hunt, and when you find something special, you feel a real sense of accomplishment.
“Usually you end up buying one of a few, or one of many, rather than one of many.The thrill of the chase is what makes social platforms explode with savings. That’s one of the reasons why it’s increasing.”
In response to widespread interest in its favorite items, the Los Angeles-based company, which operates two stores in Toronto and e-commerce across Canada, has partnered with Poshmark to introduce resale on its own platform .
“For fashion to have a viable and sustainable future, the industry needs to embrace circularity,” says Talbot. “Resale is an important example of how we can take responsibility for our products after they leave our hands. Many of the apparel products that currently end up in landfills are still perfectly wearable. It is in a state of
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“Before a customer sends a garment to us for recycling (in an ideal scenario) or before disposing of it forever, we make sure it has truly reached the end of its useful life. I am thinking of doing so.”
The program allows customers to list their favorite Ref pieces from their closets on the resale platform through their Reformation.com order history. A direct route to retailers makes it easy to create listings by automatically populating your posts with item information and details.
Talbot said the resale connection is an important step in the company’s comprehensive sustainability mission, which includes providing green solutions for products from production to end-of-life by 2030. Also includes circular goals. Your favorite pieces are already just a few of the company’s products.
“Our original product offering at Ref was to sell re-tailored vintage clothing before moving into manufacturing our own apparel,” says Talbot. “In honor of that tradition, and because vintage truly is the most sustainable way to shop, we still offer vintage drops online and in some of our stores every few months, and our team We have two full-time vintage buyers.
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“We continue to expand our vintage apparel selection alongside our business itself and hope to embrace other resale platforms outside of the U.S. and Canada in the near future.”
investing in your closet
In addition to the environmental appeal of your favorite pieces, reselling is a way to save money and make money, says Courtney Watkins, owner of Canadian designer reseller Mine & Yours.
“More and more people are investing in their dream wardrobe, and the first step is to get rid of the clothes they no longer wear,” Watkins says. “We always see an increase in sales bookings as the seasons change. This is perfect. Our customers bring in items, receive cash or store credit, and take home something new they love.”
Mine & Yours pays cash payments of 30 to 50 percent of the estimated resale value for designer fashion and accessories, 40 to 60 percent for store credit, and 50 to 70 percent for consignments valued at $500 or more.
Founded in Vancouver in 2013, Watkins says he’s seen a noticeable shift in the perception of pre-loved items, especially in the luxury price range.
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“In recent years, second-hand shopping has become less taboo and more fashionable,” she says. “The economy definitely plays a role. When things are uncertain, people are more careful about their spending and how to get the most value out of what they already own, including their wardrobes. I will explore.”
Selling used luxury items like handbags, shoes, and accessories is a way to free up value already in your closet and put it toward other things. According to PayPal’s 2023 report, 50% of Canadians surveyed said they felt selling unwanted items was a “good way to supplement their main income.”
“When the economy is down, people start making more thoughtful purchases,” Watkins said. “They prioritize quality and value, and they know consignment offers both.”
According to Retail Insider, demand for luxury goods in Canada has remained relatively stable, despite reports of a slowdown in luxury shopping in some international markets. It’s a demand that’s also being felt in the resale market, Watkins said.
“We post our best products on Instagram Stories throughout the week, and within seconds of posting, our DMs are flooded with people asking for invoices,” says Watkins. “Honestly, because of social media, products are selling faster than ever before.”
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Beyond luxury
The second-hand boom is not limited to demand for luxury goods and women’s clothing. According to Riaz Khan, co-founder of Granville Flea Market, interest in shopping for vintage goods is spreading everywhere.
In the 2023 PayPal Canada survey, approximately 42% of Gen Z Canadians said they buy used items at least once a month. For Gen Xers and Baby Boomers, that number changes to 27 percent.
The vintage expert, along with Shawn Avantini of Avantini Shop and local video producer James Cabrera, has opened a new shop for the North Vancouver fan called Arrival Vintage (111 E 12th St.). Masu. Khan said the timing and location of a store’s opening has a lot to do with demand growth.
“There are very few vintage shops around, and Granville Flea was a big success at the shipyard market this summer, so we felt the time was right,” says Kahn.
Items are carefully selected to feature in-demand, on-trend pieces that tap into the cool, nostalgic culture of the 2000s that many vintage shoppers are currently searching for.
“You’ll find a wide variety of vintage products, carefully selected by the team at Arrival. They bring today’s culture’s favorite items right to your doorstep, leave the bargains to us, and help you shop. We’re here to make it easy,” Khan says. “Jerseys and vintage team sports items are disappearing from shelves, whether it’s the Canucks, the Yankees, or this summer’s World Cup. People love sports movements.”
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Khan said that while the store’s products are “much cheaper than most fast fashion,” it has a unique, one-of-a-kind feel that draws so many resale fans to the sector in the first place. .
“The current tough economic climate has caused people to look for other ways to look fresh,” Khan says of the interest. “And secondly, there is a need to help the environment, as people are turning to sustainable fashion as a way to save the planet.”
Here are the 5 most popular luxury brands for resale
It’s no secret that some pieces are worth more than others when it comes to resale. We asked Watkins to share with us five of the most in-demand and best-invested brands.
chanel
“Chanel is always at the top of our list. From iconic bags to ready-to-wear, our customers love its timeless appeal and lasting value.”
Louis Vuitton
“Their monogrammed bags and accessories are always popular and appeal to first-time luxury shoppers and seasoned shoppers alike.”
hermes
“Especially the Birkin and Kelly bags. Hermès’ exclusivity and craftsmanship make it a top choice for clients looking for a product worth investing in.”
gucci
“Gucci’s bold designs and modern takes on classic elements make it a favorite among fashion-conscious customers.”
christian dior
“Dior’s elegant and sophisticated designs are always popular, especially the Lady Dior bags.”
Aharris@postmedia.com
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