2019年转售市场报告.pdf

RESALE REPORT 2019“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. Resale is on the move, people! From big retailers to small retailers, seed stage investors to large buyout rms, and from the New York Times to Netix, everyone seems to be talking about the future of resale. Part of me says, “Its about time!” but the other part says, “Everybody slow your roll!” Like all major movements and category disruptions, mainstream adoption happens over time, and this category is just getting started. The last few years of growth in the resale market have been driven by the early adopters (the same ones who rst adopted Airbnb or Lyft or DoorDash), but now the skeptics are starting to come around. At thredUP, were seeing rst-time thrifters coming to platforms like ours in droves. Not surprisingly, the younger generations are leading this charge, with millennials and Gen Z adopting secondhand 2.5x faster than other age groups. Even traditional retailers are starting to embrace secondhand. The resale customer is no longer somebody elses customer, they are everybodys customer. Mass market or luxury, if people can nd a high-quality product for much less, theyll choose used. As the line between new and used apparel blurs for consumers, a powerful transformation in retail will unfold. Foreword Ive never been more excited about resales potential to delight customers and help create a more sustainable future. We hope you enjoy reading our 2019 Resale Report as much as weve enjoyed pulling it together. We believe this year, more than ever, the data speaks for itself. Onward. JAMES REINHART Co-Founder & CEOThe resale customer is no longer somebody elses customer, they are everybodys customer. Mass market or luxury, if people can nd a high- quality product for much less, theyll choose used. 2“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. thredUPs Annual Resale Report contains research & data from GlobalData, a third-party retail analytics rm. GlobalDatas assessment of the secondhand market is determined through consumer surveys, retailer tracking, ofcial public data, data sharing, store observation, and secondary sources. These inputs are used by analysts to model and calculate market sizes, channel sizes, and market shares. Further, for the purpose of this report, GlobalData conducted a January 2019 survey of 2,000 American women over 18, asking specic questions about their behaviors and preferences for secondhand. thredUPs Resale Report also leverages data from the following sources: Green Story Research, Ellen MacArthur Foundation, a survey of Senior Retail Executives, internal thredUP customer and brand performance data, and fashion insights from EDITED. View all sources here. All third party brand names and logos appearing in this report are trademarks or registered trademarks of their respective holders. Any such appearance does not imply any afliation with or endorsement of thredUP. Secondhand: Consumption of all used apparel. Includes both the Resale sector and the Thrift & Donation sector. Donation & Thrift: A sector of the broader secondhand market that includes traditional options such as Goodwill, Salvation Army, and yard sales. These secondhand options are primarily, but not exclusively, ofine. Resale: A sector of the broader secondhand market that includes more curated product assortments, often well merchandised and/or higher end. Examples include thredUP and TheRealReal as well as upscale physical players like Buffalo Exchange. These secondhand options are primarily, but not exclusively, online. Secondhand Products: Consumption of all used apparel, footwear, accessories, books, furniture, entertainment, and beauty. View all denitions here. Disclosure: Denitions: Methodology 3“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. The Rise of Resale: Size and Market Growth “Compared to the overall apparel market, resales growth has been phenomenal. As the market uniquely meets consumers preference for variety, value, and sustainability, we expect the high growth to continue.” Neil Saunders, GlobalData Managing Director & Lead Market Analyst for thredUPs Resale Report 01“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. 2012 $10B $20B $30B $40B $50B 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $24B $51B 11 12 13 3 5 7 10 13 17 23 14 16 17 19 21 22 24 26 28 Secondhand Market Will Reach $51B in 5 Y ears Total Secondhand Apparel Market to Double in 5 Years With Resale Sector Driving the Growth Resale has grown 21X faster than the retail apparel market over the past three years. Leading Resale Sector Players Resale Thrift & Donations Total Secondhand Apparel Market Managed marketplace for all brandsfrom GAP to Gucci. Peer-to-peer marketplace focused on social commerce. Managed marketplace for luxury and designer brands. 5“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. There Are More Secondhand Shoppers Than Ever Before 64% of Women Bought or Are Now Willing to Buy Secondhand Products 2016 2017 2018 45% 52% 64% women bought secondhand products in 2018, up from 56M 44M PERCENTAGE OF WOMEN OVER 18 WHO HAVE BOUGHT OR ARE OPEN TO BUYING SECONDHAND PRODUCTS IN THE FUTURE Includes apparel, footwear, accessories, books, furniture, entertainment, and beauty. in 2017. 6“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. The Thrill of the Hunt Transcends Age and Income Secondhand Attracts All Ages, but Millennials & Boomers Thrift the Most Secondhand Shoppers Are in Every StoreFrom Walmart to Gucci SECONDHAND APPAREL SHOPPERS BY AGE Boomers (56-65+) Gen X (38-55) Millennials (25-37) Gen Z (18-24) 16% 33% 20% 31% 26% of luxury shoppers also buy secondhand. 22% of value chain shoppers also buy secondhand. 25% of department store shoppers also buy secondhand. 7“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. Millennials and Gen Z Are Driving the Growth of Secondhand PERCENTAGE OF EACH AGE GROUP THAT BOUGHT SECONDHAND APPAREL, FOOTWEAR, OR ACCESSORIES Gen Zers will buy secondhand in 2019. More than 1 in 3 Boomers Gen X Millennials 2017 2017 2017 2017 2019 2019 2019 2019 Gen Z 16% 19% 18% 21% 29% 26% 37% 16% growth 15% growth 18% growth 37% growth 46% 18-37 Year Olds Are Adopting Secondhand Apparel 2.5x Faster Than Other Age Groups 8“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. Innovations like the thredUP Clean Out Kit make it easy to sell from home, attracting millions to participate in resale for the rst time. Unlocking an Endless Supply Chain Creating Value With Data Science Massive Volume & Scale With Automation Technology to Shop From Anywhere Sophisticated algorithms assign resale value at scale. thredUP uses millions of historical data points to instantly determine what something is worth. Resellers must be efcient when photographing, listing, and storing innite SKUs. thredUP automates processing of up to 100K one-of-a-kind items a day. Mobile apps and personalization have made buying used clothes as easy as buying new. Convenience and trust has attracted a new generation of secondhand shoppers.1 2 3 4 The Innovation & Technology That Created a Resale Revolution 9“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. Consumer Trends Drive Secondhand Growth “Rental & pre-owned will increase as consumers regularly update looks for social media & as consumer attitudes toward ownership and sustainability change.” Shoptalk x Robin Report on “75 Ways Retail Will Change in the Next Decade” 02“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. The Rise of the Conscious Consumer Consumers Expect Ethical Fashion 59% “Shopping ethically has often been perceived as a luxury, because of the price points.The good news is that we now live in the golden age of secondhand shopping.” Elizabeth Segran, Fast Company Sustainability Moves From Perk to Priority 15 point increase in eco-minded consumers. CONSUMERS WHO PREFER TO BUY FROM ENVIRONMENTALLY FRIENDLY BRANDS 2013 2018 72% 57% of consumers expect retailers to create clothes ethically and sustainably. 11“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. Resale Satises Two Biggest Demands of the Instagram Generation 74% of 18-29 year olds prefer to buy from sustainably conscious brands. #1 #2 BE A SUSTAINABLY CONSCIOUS CONSUMER BE SEEN IN NEW STYLES CONSTANTLY “There are numerous reasons for the recent rise of resale, including environmental benets and the desire for frequent turnover of wardrobes especially among the Instagram generation.” The Raymond James Financial Center, “Rise of the Fashion Resale Marketplaces” 2019 56%of 18-29 year olds prefer retailers that offer new arrivals every time they visit. thredUP lists 30K new items every single day. Thats 150x more than H&M! Buying one used item reduces its carbon footprint by 82%. 12“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. Resale and Kondomania Spark End of Long-Term Ownership 2017 136 2018 2019 The average number of items in consumers closets is declining. Resale Powers Apparel Rotation, Not Accumulation 164 147 Resale Solves The Kondo Waste Problem If 1 in 10 Netix subscribers cleaned out their closets it would generate 667M pounds of trash.* Resale responsibly turns that trash into treasurecreating a bargain hunters paradise. thredUP saw an 80% spike in Clean Out Kits when Kondos show rst aired on Netix. *Pounds of trash: calculated based on if 10% of Netix subscribers (5.8M) threw away 5 trash bags worth of clothing each (30 items per bag). 13“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. Thats nearly a increase from 5 years ago. Retailers Adapt As Consumers No Longer Buy With the Intent to Keep Companies Are Designing New Products for Secondary Markets Todays Consumer Shops With Intent to Resell Currently building homes that are designed to be shared, not owned. Announced plans to offer furniture rentals. Brands are now creating clothes to be rented exclusively on RTR. Produced a line of clothes designed to be resold. 40% 2X of consumers now consider the resale value of an item before buying it. 14“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from the materials to the energy that powers factories.” say is exciting because you never know what youre going to find. of shoppers say they rarely find anything new or exciting at retail stores. The Closet of the Future “In fashion, the shift to new ownership models is driven by growing customer desire for variety, sustainability, and affordability. In 2019, we predict more consumers will see growing proportion of their wardrobes made up of pre-owned or rented products.” McKinsey x Business of Fashion, “The State of Fashion 2019” 03“each time you purchase something secondhand, youre helping to conserve all of the resources that go into producing a single piece of clothing, from t