Global Apparel Re-commerce Market Outlook
Since 2010, the global B2C e-commerce sales have been surging at a significant pace owing rapid internet penetration in major parts of the world. Over the forecast period, the e-commerce sales are expected to grow at CAGR of 17.5% with a turnover of US$ 2,671 billion. Some of the major sectors in e-commerce such as the online apparel have been playing a pivotal role in stimulating the demand and growth in global e-commerce B2C sales. With the continued growth of online apparel store, the sector has been enduring a new trend with the simultaneous growing demand for apparel re-commerce market. The marketplace for apparel re-commerce market has been evolving rapidly in recent years. Apparel re-commerce is an online platform facilitating consumers on buying and selling pre-owned apparels. Apparel re-commerce have made things easier for consumers in buying and selling no matter it is a footwear or any other accessories.
Global Apparel Re-commerce Market: Reasons for Covering this Title
Following the consumers’ desire for owning luxury apparels, apparel re-commerce provide services giving its consumers greater incentives on buying and reselling these kinds of products. Apparel re-commerce market provides its seller with services such as photographing, pricing and posting inventory information online. Other than this, apparel re-commerce market provides other critical services such as peer-to-peer marketplace place where one can compare the prices of the same kind of apparels and connect directly with the seller. Owing burgeoning response for the services provided by apparel re-commerce platform, some of the major companies operating in the market, have been making a key investment to propel its growth in terms of value sales over the forecast period. The confluence of factors such as increased seasonal inventory supply and demand, investment nature of certain luxury products, brand momentum in the retail channel and millennial penetration has been triggering the growth of apparel re-commerce market.
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Global Apparel Re-commerce: Market Segmentation
On the basis of companies, the global Apparel Re-commerce market has been segmented as –
On the basis of product types, the global Apparel Re-commerce market has been segmented as –
Clothing and garments
On the basis of the end user, the global Apparel Re-commerce market has been segmented as –
Global Apparel Re-commerce Market: Key Players
Some of the key players operating in the global Apparel Re-commerce market are Vestiaire Collective, The RealReal, Tradesy, Poshmark, ThredUP, Vinted, SnobSwap, Threadflip among others.
Apparel Re-commerce Market: Key Trends
Since 2009, some of the major companies in the market has invested more than half a billion dollars in venture funding for apparel re-commerce market
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Apparel Re-commerce Market: Key Developments
In 2017, Vestiaire Collective invested around US$ 162 million accounting to a total fund to US$ 130 million in five funding rounds since the company’s commencement in 2009.
In 2016, Swap.com announced an investment of US$ 20 million into its business operation. The company currently operates a Chicago warehouse which is the size of six football fields.
In 2011, The RealReal has raised a total of US$ 122 million whereas ThredUP has raised US$ 131 million since its inception in 2009.
Opportunities for Apparel Re-commerce Market Participants
The social media penetration has been on the higher end since the past couple of years which is attributable to the increased usage of social media channels (Facebook, Twitter, Instagram etc.) by most of the millennial population around the globe. This one crucial factor paves a critical opportunity for apparel re-commerce market to generate sales by promoting its products and service to its target segment. For instance, in 2012, a UK based company Depop came up with secondhand fashion app which is being designed to look and function like a social media site rather than an online store. Here the users can like and follow other users, rate their customer experience, bargain over prices and can even comment on items that are being posted for sale. The company has over 5 million users and sells more than 500,000 item on monthly basis.
Brief Approach to Research for Apparel Re-commerce Market
FMI will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, formats, and application of the coconut water concentrate segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Apparel Re-commerce market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
An overview of the Apparel Re-commerce market, including background and evolution
Macroeconomic factors affecting the Apparel Re-commerce market and its potential
Apparel Re-commerce Market dynamics, such as drivers, challenges, and trends
Detailed value chain analysis of the Apparel Re-commerce market
The cost structure of the products and segments covered in the study for Apparel Re-commerce Market
In-depth pricing analysis, by key product segments, regions and by major Apparel Re-commerce market participants
Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario for Apparel Re-commerce
Analysis of the Apparel Re-commerce market structure, including a tier-wise categorization of key market participants
Competitive landscape of the Apparel Re-commerce market, including detailed profiles of the top players in this market
Global Apparel Re-commerce Market Outlook