Facebook marketplace faces competition from Ikea, Zara, others
Still, even as the secondhand economy booms there is still one issue that prevents consumers from buying in.
Ikea, Shein, Zara, and H&M are global retail brands which have been criticized for years resulting from their focal point on more cost-effective, trendy goods, often crafted from unsustainable materials.
Fast fashion, especially, has been linked to climate change, labor abuses, and economic instability, which may possibly maybe be why these brands appear to be taking a second have a have a take a look at their "disposable" goods.
In actual fact, these brands are all encouraging their customers to participate contained in the secondhand economy and making it simpler for them to achieve that by organising their own peer-to-peer marketplaces an awful lot like Meta Platform's (META) Facebook Marketplace, eBay (EBAY) , and Craigslist.
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Customers can shop online through H&M's "Preloved," or Zara's "Pre-Owned," which lets customers buy, sell repair, or donate. Ikea's "As-is Online" lets in people to view and reserve gently used products online.
Fashion-focused secondhand businesses that don't appear to be limited to single brands have become buzzy over the previous few years. Think publicly traded markets like The RealReal (REAL) , ThredUP (TDUP) and Poshmark (POSH) , which sell the entirety from luxury handbags from Louis Vuitton to outside products like Patagonia parkas, to name just a pair of. Still, the internet shopping experience at these businesses has some complications for consumers, in keeping with a brand new report.
Related: H&M is the latest victim of an alarming shift in consumer behavior
Many would-be consumers question what they see online
A September 2024 survey from Morning Consult took a detailed have a have a take a look at what motivates people to shop secondhand — or no longer. Thirty-eight percentof the two,024 U.S. adults surveyed said they do not shop secondhand because they do not appear to be convinced they would receive items of their promised condition. The other 31% said they failed to shop secondhand resulting from "frustrations with the return process," if one even exists. The other 27% said they failed to trust they would receive the items in any respect.
The report suggests online retailers should wrestle the bad reputation some online sellers have, earned or no longer, to continue to grow their customer base.
And there are definitely opportunities to capture more customers. In keeping with ThredUp's 2024 Resale Report, the secondhand apparel market will reach $350 Billion by 2028. It truly is 3X the growth of the general apparel market.
Read more on secondhand retail:
- H&M is making a metamorphosis so you are prepared to thrill its eco-wide awake customers
- Cleaning Out Your Closet? These Are The Non-Luxury Brands Reselling For Most
- Goodwill makes a surprisingly as much as date move
Overconsumption has many economic effects
A 2015 study found production and use of household goods and products and services were accountable for 60 percentof global greenhouse gas emissions. Obviously, one resulting from in the reduction of this number is to supply and consume less.
Some online influencers have even tried to encourage their followers to purchase secondhand and consume less, though an awful lot of them generate profits (and a type of it) by selling products to their followers.
The "underconsumption" trend has been worldwide social media in as much as this point months. Take this post from Jess Cliftonn who says she is finding new passions to interchange her should shop.
@jess.cliftonn What freed me from the overconsumption loop became finding passions & creative outlets that replaced my should shop. Whatever you suspect you prefer presently, you with regards to definitely don’t. Take into accout, we now have the entirety we need presently to be happy in this moment
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