If second-hand clothes make you think of fusty op shops, it might be time to update your outlook.
The clothing resale market has exploded in recent years, with analytics company Business of Fashion estimating it to be worth a staggering $A175 billion globally annually and rising. The good news is that getting a slice of that pie is easier than ever.
WATCH: Jules Sebastian shares her op-shopping tips. Article continues after video.
Transactions are taking place via social media (Facebook marketplace
and Instagram), dedicated technology platforms such as Depop and Poshmark, and traditional retail outlets, including consignment stores and markets.
The power of platforms
Poshmark launched into Australia during the pandemic and says its shoppers – known as ‘Poshers’ – are looking for unique pieces.
“Many of our sellers start by selling items from their own wardrobe to help pay for groceries, rent and car payments,” says Alex Constantinides, general manager, Australia.
“Some have even scaled their side hustle by sourcing inventory from op shops, garage sales, and donations from friends and family.
Clean for cash
Brooke Eichhorn, head of fashion at eBay Australia, says while Gen Z and millennials are driving the circular economy, pre-loved is now well and truly part of the mainstream.
“The most popular categories on eBay Australia are women’s bags and handbags, dresses and tops. Items in good condition, especially from Australian designers and luxury brands, can fetch high resale prices.”
For Gen Xers who haven’t had a good clear-out for a while, selling unwanted outfits could be a goldmine.
“We’re finding what is old is new again with fashion from the ’90s or early 2000s trending on eBay,” Brooke reveals.
“For Gen Z, sneakers like Air Max, shoulder bags and cropped dresses are all the rage.”
Rent-a-rack
Venla has stores in Sydney and will be expanding into more states this year. It was founded by Minna Monaghan and Satu Raunola-Spencer, who wanted to recreate the rent-a-rack stores popular in their native Finland, with a focus on supporting sustainable fashion. Their sellers pay a fee to sell clothes over a fortnight.
“We’ve had people sell more than 60 items in their two weeks,” says Minna.
“If they’ve got great stuff and they price it well and keep topping up the rack, they can really move a lot of stock.”
WATCH: Tips for buying secondhand furniture. Article continues after video.
Here are five ways you can join the great resale revolution…
1. Poshmark
Items are listed and sold through the app. Prepaid labels make shipping simple, and payment is released when the buyer receives their item.
Top tips: Share your items regularly to help them get discovered. Be as clear as possible in the description.
2. eBay
The OG online marketplace calculates fees according to a sliding scale that factors in which account you’ve signed up for and the sales amount. Bonus: it has an enormous customer base.
Top tips: Fill in the basic details of your item like size and colour. Taking a good picture is crucial so people know what they are buying.
3. Depop
Charges a 10 per cent fee on the sale price, including shipping costs, which is taken from the connected PayPal account.
Top tips: Get creative with your content. A memorable username will help buyers remember you and your products.
4. Venla
Pay $210 for two-week rack rental, then pay either 25 per cent or 50 per cent commission depending on how much involvement you want.
Top tips: Curate your rack to make it appealing, price sensibly and keep refreshing it with new items.
5. Facebook Marketplace
Tap the menu, then the marketplace shortcut, then
the sell tab. Create a listing by selecting a category, add photos, then hit publish.
Top tips: It’s fee-free. Join local groups to save on shipping by delivering or the buyer can collect their item.
