Biography & Net Worth: Resale market surges this holiday season amid supply chain issues

New York City-used. It looks new. frugality. I don’t buy anything. Use slowly. There are several ways to explain consumption in a rapidly growing resale market.

“Merry Christmas!” is added to the list.

Resale has begun among those who want to save the planet and spend less on gifts during their December holidays, the most wasted time of the year. This year’s supply chain delays have added to the motivation.

Sustainability expert Ashley Piper said, “It’s about finding interesting second-hand gifts that make sense to someone, rather than just pressing the “buy” button that everyone has from Amazon. “Give a sh (asterisk) t: author of Dogood. Live well Save the earth”.

One of her favorite gifts was a torn copy of “Gentlemen Prefer Blondes” that a friend found at a thrift store for $2.

“It’s kitsch, thoughtful and completely unique,” Piper said.

The resale market as a whole is not dominant and is spread across all age groups. According to industry reports, the recent growth is mainly on account of Gen Z and Millennial shoppers.

Small and big players are taking advantage of this.

In the luxury resale market with more than 23 million members since its launch more than two years ago, RealReal said it saw a 60% increase over last year in those choosing to buy gift boxes during the holiday season . Rice fields. Last month, on an online site with 16 physical consignment stores across the country, orders for gift boxes for non-branded jewelry increased by 73% compared to the same month last year. According to company data, such purchases increased by 62% for Gucci products and 53% for Louis Vuitton products.

Marshall Cohen, Consumer Behavior and Retail Analyst at NPD Group, said: “There is a fresh perspective on how valuable certain resale products are. New and old gray market sales are now reaching new heights. Getting great products is what others dream of. You can see. What you do is a new form of luxury.”

Earlier this year, gift card sales from online recycling giant Thread Up grew 103% overall in the first two weeks of December compared to November, according to Erin Wallace, vice president of integrated marketing. Did.

Christy Marquez, 36, of Jupiter, Florida, has two young daughters. When his family decided to shop only for their kids, he reduced his gift list from about 20 to 10 this year. Three-fourths of his gifts will be resold. He used and other book resellers to purchase previously owned titles at substantially discounted prices. The Facebook Marketplace and a bunch of local moms have proven useful for toys.

read again | Due to persistently high demand, concerns about COVID will result in a lack of spoofing of Santa.

From time to time, she said that resale, especially this year, is not about saving the environment or money.

“At the top of our oldest list is the Magic Mixies Magic Cauldron. At first I didn’t know this toy was so popular. Price 2 from Amazon resellers I was shocked to see it sold out everywhere except for more than double the price. Wall- Mart.” “After getting through a potential scammer, I finally bought it at Poshmark for $99. It’s not the eco-friendly toy we wanted, it’s still expensive, but god she’s this year’s Was on the lookout. I’m happy to find a nice toy.”

Plastic toys that make noise and create fog after a child “poisons” them cost $69.99.

As more retailers added resale as an option, tech brokers jumped in to help. One company, List Perfectly, provides tools for resellers to crosspost their products to 11 markets.

“Resale doesn’t necessarily mean old stuff. Many resellers plan months of inventory to meet the demands of holiday shopping, so they resell new items that are currently missing. “Masu,” Co-Founder and CEO Clara Albornos said, “Buyers can review different options, easily compare prices, shop at home, get goods quickly and cost-effectively, and get direct delivery. Can. Usually when problems happen. It’s got an opportunity to back it up.”

Another company, Recurate, allows brands to create their own resale platform on their website.

“Black Friday and Cyber ​​Monday weekly recruit sales were 50% higher than average,” said Carin Dilly, Partners’ vice president. She said customers are seeking resale items “to satisfy their own merchandising hunt and to buy as gifts.”

Especially attractive to Gen Z, the resale marketplace Galaxy offers Live Shows where buyers and sellers can interact in real time. Recently, we held a five-day holiday event with 40 top sellers.

“The ability to interact in real-time via live video and SMS messaging allows sellers and buyers to build relationships, which often makes sellers a trusted curator for wardrobes and holiday shopping.” Founder Danny Quick said. CEO.

Sadie Cherney, franchise owner who owns three resale clothing patron boutiques in South Carolina, said resale is a market that focuses on buyers.

Her Tip: Search for new items with tags, do homework on return policies, make sure zippers are working, check for dirt and tears, and perhaps most importantly, receive gifts. Let people know that you have resale.

Khalil Spurlock, 32, of Jersey City, NJ, began reselling holiday gifts this year to reduce carbon emissions. He used Grailed, as opposed to The RealReal, a site focused on men’s clothing.

“I was buying for my 20-year-old brother who buys resale,” he said. “Some of the best items, like streetwear, can only be found by resale.”

Spurlock took two things from a hot brand for his younger brother.

This is nothing new for 50-year-old Amanda Spencer, who lives in the suburbs of Philadelphia. She’s long been a resale hunter on the Facebook Marketplace, with programs like local Buy Nothing groups offering free items and her church’s sales.

This Christmas, she found a series of books on Facebook that her daughter wanted. Then, from the Buy Nothing group, I picked up the bean bag chair my daughter was looking for.

“It’s not all alone, but who cares,” Spencer said.

For his son, he found a Minecraft cubic building toy at a garden sale.

“Everything he got his whole life was either out of control or from a consignment shop,” Spencer said. “Why do you bother paying the full amount?”

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