Fjällräven introduces a platform for direct second-hand product trading among customers
In a significant move towards sustainability, several retail brands have launched peer-to-peer resale programs. Swedish outdoor clothing brand Fjällräven has taken the lead by introducing a resale marketplace in the U.S., allowing customers to buy and sell gently used bags, gear, and apparel.
Fjällräven's resale program, powered by resale tech company Archive, offers sellers the choice between receiving cash or credit towards an online purchase at Fjällräven. The company suggests a listing price based on the condition and original value of the items, and provides a pre-paid USPS shipping label for sellers to send pieces to buyers.
Fjällräven's resale philosophy aligns with a broader trend in the industry. The brand's long-standing mission to reduce waste and promote circularity within the outdoor and apparel industries is reflected in this initiative. The resale program is part of a larger commitment to sustainability and longevity in product design.
The U.S. secondhand market is projected to reach $73 billion by 2028, a testament to the growing popularity of resale. Apparel brands such as Faharty and children's apparel company Hanna Andersson have also joined the resale bandwagon.
Joining the fray, Urban Outfitters has also launched a resale program. Other retail brands that have embraced resale include S&G, Style Cheat, Tiba + Marl, The Knotty Ones, IDG, Lovevery, Heath, and IKEA. These brands span across categories including apparel, outdoor gear, toys, ceramics, and furniture.
Luxury fashion brands have also jumped on the resale trend, partnering with platforms like Farfetch’s Pre-Owned and Net-a-Porter’s resale collaborations to expand re-commerce in premium segments.
The growth of the resale market indicates a shift towards sustainability in the U.S. retail industry. In fact, almost 90% of consumers bought or sold used goods in the last 12 months. The U.S. used clothing market reached $43 billion in 2022, up from $23 billion in 2018.
This trend reflects a growing consumer awareness and commitment towards sustainability, as well as a desire to extend product life cycles, build brand loyalty, and create new revenue streams. It's a win-win situation for both consumers and retailers alike.
- As technology advances, artificial intelligence (AI) could potentially be utilized to streamline the resale process, helping brands like Fjällräven, Urban Outfitters, and others to accurately assess the condition and value of items.
- In the realm of lifestyle and finance, resale programs offer an attractive opportunity for consumers to decrease their carbon footprint while saving money on high-quality, gently used products from various retail sectors, such as apparel, outdoor gear, toys, ceramics, and furniture.
- As war and conflict continue to pose threats to global economies, the growing popularity of resale in the United States could provide a reliable and sustainable source of income for both individuals and businesses, ultimately fortifying the nation's economic resilience.
