retail / Resale & Rental

Facing depressed consumer sentiment and a slew of other macroeconomic headwinds this year, the industry was forced to revisit a timeless retail playbook: compelling product, prudent spending and a revival of brick and mortar.

Retail editor Cathaleen Chen and e-commerce correspondent Malique Morris join senior correspondent Sheena Butler-Young and executive editor Brian Baskin to unpack how resale has evolved from niche to mainstream, and what may be in store for the future of secondhand shopping.

Software platforms that help fashion brands turn slightly damaged returned goods into new sales are taking off as more companies look to transform online returns from a persistent dilemma into a source for profitable growth.

In the new season of the hit Netflix show, the resale platform makes a cameo, hoping that the appearance will boost its US business, which now accounts for 20 percent of its sales.

In the first edition of Bunjang’s ‘Korean Luxury Resale Report,’ the re-commerce platform examines the exponential growth of the secondhand market in the region and the defining trends to know now. Discover key insights from the report here, alongside BoF analysis.

Koreans spend an average of $325 per capita on luxury goods each year — the highest spending globally, according to Morgan Stanley. BoF sits down with mobile re-commerce platform Bunjang’s CEO Choi Jae-hwa to understand how the resale sector stands to benefit.

The fashion resale company finally became profitable last year, but it was at the cost of losing consignors who complain that reselling is no longer as lucrative as it once was on the platform.

In a partnership with resale service provider Reflaunt, the global logistics giant now offers a fulfilment, shipping and platforming solution for brand clients interested in entering the secondhand space.