The majority of millennials in the UK are choosing to purchase clothing from resale websites – in a move that poses an additional threat to mainstream retailers, many of which are struggling to maintain destination appeal in the challenging retail environment.
The findings of a new survey data and analytics company GlobalData show that as many retailers are failing to satisfy clothing and footwear shoppers, the opportunity grows for sites such as Depop and Collector Square to capture consumers’ attention. These sites offer consistent newness and the ability to easily search a variety of brands, both high street and luxury, at discounted prices.
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Appetite is higher among younger shoppers, with 53.1% of 25-34-year-olds using resale platforms. This number rises to 58.9% for those aged 16-24, perhaps unsurprising given resale retailers’ ability to meet consumer desire for fashionability and value for money.
“The negative connotations previously associated with second-hand clothing are fading rapidly with resale retailers driving shopper appeal through a seamless, social media focused experience,” says Mamequa Boafo, senior retail analyst at GlobalData.
Meanwhile, shoppers have become increasingly mindful about the environmental impact of the fashion industry, meaning retailers must do more to show they are giving consumers ‘guilt-free’ fashion options while making a purchase, Boafo adds.
“The recent consumer outcry following news that luxury player Burberry destroyed over GBP28m of clothes and perfume last year, and the rise of high street retailers such as H&M and Zara launching sustainably-sourced ranges, shows that shoppers and retailers are becoming more conscious about cutting waste.”
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By GlobalData
