COS, The First Big Firm To Be Encouraged To Sell Used Clothes.
Buying second-hand clothes on the Internet has long since ceased to resemble visiting a messy, unappetizing flea market.
The re-merchants - as they have been called - that are succeeding on the net are looking more and more stylish, generating attractive content and editorials, and are constantly being updated to attract new buyers. These spaces pay special attention to what to sell and how to sell it, and in many cases the sales come from the luxury sector, something unthinkable a few years ago.
At a time when responsible consumption is more necessary than ever, it seems that brands are starting to target the second-hand market.
One example is Coss, the Swedish firm will act as an intermediary between users who want to get rid of their garments and new buyers, an idea that has already been implemented by other brands that are committed to a circular business model.
And it seems that there is a market that has not suffered (or at least not as flagrantly) from the ravages of the pandemic: it is estimated that the second-hand sector will double its profits in the next five years, rising, according to data from the consulting firm Global Data, from the current 21,000 million euros to 54,000.
So little by little, more and more firms are offering a section to buy old and/or used clothes or accessories. The first one was Patagonia, which at the beginning of the year opened, in digital and physical, Worn Wear, a shop where you can buy your second hand products and even fix old deteriorated clothes. The user who gets rid of them receives a benefit and the brand resells it at a cheaper price. Others, such as The North Face, Madewell or Eileen Fisher, already have this service as well. Now the last one to join has been COS. The Swedish brand, owned by the H&M group, will launch next month 'Re sell', a section in which its pieces from other seasons will be available with a procedure similar to that of Patagonia: the user will sell it to COS (and set the price) and the brand will resell it, keeping only 10% of the final profit by acting as an intermediary.
I think it's great that brands are considering these new, more sustainable business formulas, be it for image or conscience, it's to be applauded...
- Written by:
- Writers location:
- Palma, Balears, Spain
- 12 Sep, 2020
Like it No likes