Measuring the State of Circularity in the UK Fashion Industry
Part 2
Executive Summary
26
Introduction
Part 3
Conclusion
Part 1
Resale: preloved profits Selling pre-owned fashion items to new consumers. Includes organisation’s own re-sale platforms or use of other platforms or marketplaces to enable individuals to buy and sell used apparel.
The resale market has consistent popularity across the spectrum of retailers. Initiatives vary significantly in maturity and are heavily dominated by third parties. Again, customer communication and margin pressures are the biggest blockers to further expansion of resale. A consistent and moderately popular circular business model, this study finds ’product authenticity’ as a top issue in luxury and premium resale markets, compared to ‘value retention’ and ‘customer demand’ in the mid-value market. Retailers struggle with a heavy dependency on third parties for set-up and running, along with competition with non-retail organisations (e.g. Vinted, Depop).
The numbers at a glance
Presence within retailer market 30%
78%
Proportion of initiatives in pilot phase
13%
Proportion of retailer customer base accessing initiatives
88%
Proportion of initiatives accessing third party support
B2C resale service through partnership online platform
Most common business model
Revenue and number of customers
Most tracked KPIs
Marketing and PR support, consulting support and support from SMEs
Most frequently accessed support
Credit: Huishan Zhang
Credit: ERDEM
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