E-commerce is undoubtedly the biggest market today as it eliminates various challenges like geographical limitations and catering to multiple customers at once. Recommerce is a segment that is rampantly growing in online space. Also known as reverse commerce, recommerce primarily is the selling of those products owned, whether they are new or old, specifically electronic products or media like books, with the help of physical or e-commerce platforms to buyers that are in favour of repairing, or even reuse, recycle or resell them. There are few different types of recommerce. One major type is where, the consumers that sell goods that are used directly person to person in market places like flea markets, garage sales or ad hoc or online marketplaces like Amazon or eBay. This is exactly why there is presence of certain platforms including likes of eBay that may hedge the risk of the payment for the consumer by simply providing payment tools like PayPal. The recommerce market has been taking huge strides on the path of progress majorly with the help of reselling apparels or clothes. Meanwhile, the apparel industry happens to be one of the most profitable industries. The global apparel re-commerce retailing market is growing aggressively due to various factors.
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The COVID-19 pandemic proved extremely helpful for the global apparel re-commerce retailing market. This was primarily because of trade curbs imposed to curtail the spread of the virus. The e-commerce platforms saw immense growth. Along with this, the rate of unemployment went up which also created an urge in people to sell unwanted electronic equipment or apparel.
One of the major factors that has been driving the growth of the global apparel re-commerce retailing market is increasing dependency on E-commerce by millennials and generation z. Also the fact that growing demand for branded clothes at an affordable price helps this market grow. Meanwhile, growing concerns regarding quality and material check as numerous fake websites and sellers have online presence, play restraining factor in the growth of the global apparel re-commerce retailing market.
On the other hand, the global apparel re-commerce retailing market is forecasted to see huge growth over the period of next couple of years due to rising number of integrated platforms that help sellers contact directly with buyers. The global apparel re-commerce retailing market is projected to reach CAGR of 28% over the forecast period (2022 – 2030).
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By Gender Type, Female segment will witness fastest growth for The Global Apparel Re-Commerce Retailing Market in 2022
Majority of female consumers prefer buying branded clothes, especially those cannot be afforded easily, irrespective of the fact whether are they are old or used. This is the reason why this segment has edge over other segments.
Asia Pacific Region to witness fastest growth for this market Over the Forecast Period (2022 – 2030) in the Global Apparel Re-Commerce Retailing Market
E-commerce market is growing rampantly in countries like India and China. Rising awareness among people regarding online shopping platforms along with increasing levels of disposable income is helping the market grow.
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Key Players - Global Apparel Re-Commerce Retailing Market:
- Depop Limited
- eBay Inc
- Etsy, Inc
- Fashionphile Group, LLC
- Luxury Garage Sale
- Maven Collection
- Poshmark Inc
- The Luxury Closet
- THE OUTNET
- The RealReal Inc
- ThredUP Inc
- Tradesy, Inc
- Urban Outfitters
- Vestiaire Collective
- Worn Wear, Inc
- Other Market Participants
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Global Apparel Re-Commerce Retailing Market Segmentation
Global apparel re-commerce retailing market has been segmented by gender, target groups, product type and region which are further classified into respective countries:
Global Apparel Re-Commerce Retailing Market Gender Type Outlook (Revenue, USD Million, 2015 - 2030)
Global Apparel Re-Commerce Retailing Market Target Group Type Outlook (Revenue, USD Million, 2015 - 2030)
Global Apparel Re-Commerce Retailing Market Product Type Outlook (Revenue, USD Million, 2015 - 2030)
Global Apparel Re-Commerce Retailing Market Regional Outlook (Revenue, USD Million, 2015 - 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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