Next year, ecommerce will make up 75% of total US resale volume and reach $90 billion, according to our forecast. US resale is also growing faster than overall retail sales, and retailers want in on the market. Whether you’re launching a resale program or examining the opportunity, here are five charts to help.
Inflation in the UK is easing but remains near a 40-year high. That’s tamping down consumer spending across all categories—with total retail sales set to grow by just 1.7% in 2023, versus a pre-pandemic growth rate of around 4%.
Consumers say sustainability is important and want to support sustainable brands, but when it comes time to buy, price often trumps other considerations.
Stitch Fix ended its 2022 fiscal year on a less-than-stellar note.
Rent the Runway increased its revenues 64% in the second quarter to $76.5 million but ended with a lower active subscriber count than expected.
Nearly 50 million people are still working from home as of July, according to The NPD Group. But many companies are calling their employees back to the office.
The UK’s total retail sales growth will slow in 2022 amid a challenging economy. Ecommerce sales will see the most significant slowdown—4.2% in 2022 versus 16.0% in 2021. But digital will still account for 35.9% of the country’s total retail sales this year.
On this episode of Brand Anatomy, where we get exclusive looks inside leading brands, Briefing director Jeremy Goldman sits down with Mike Janover, vice president of global digital and direct marketing at Gap Inc., to discuss how the clothing and accessories retailer is tackling personalization at scale, the nuances between the brand's marketing channels, and the top technologies it's implementing.
In China and the US, 59% of internet users are comfortable using secondhand clothing items, making those countries where the resale fashion economy is most ripe for growth.
During the pandemic-induced lockdowns in 2020, many UK-based shoppers confined to their homes saw little need to shop for apparel, and even now, as restrictions ease, apparel will still not be a consumer focus.
Ecommerce helped retail out of a sticky spot during the pandemic, and those habits formed during lockdowns will endure, as digital demands more attention than ever—37.5% of all retail sales this year will be ecommerce sales.
US consumers are stocking up on apparel
Clothing and apparel retailers are continuing to see steep declines in 2020, with sales well below 2019 levels.
Direct-to-consumer (D2C) brand Cuts Clothing has grown a lot since it first launched in 2016 on Kickstarter. “Since day one, we have been focused on making premium minimalist shirts for the modern man,” said Steven Borrelli, CEO and co-founder of Cuts.
After initial signs of success, Kohl’s will expand its Amazon returns program nationwide in July. The pilot program, which launched in Chicago and Los Angeles in 2017, performed particularly well, leading to 9% growth in new customers and 8% growth in revenues compared with national growth of 1% and 2%, respectively, according to payment data analyzed by Earnest Research.
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