Sold on Reselling – Co-signing the Consignment Store

Resale culture has erupted with the modern sneakerhead, and fashion gurus of today. Mediums like Stock X, The Real Real, eBay, and even Facebook Marketplace make it easy to purchase gently used, or even brand-new secondhand apparel. As the trend of recyclable fashion builds, brands are crafting in-store experiences to kick the consignment store stigmas of past.

The Real Real, a luxury consignment store, is a $207.4M business by itself. Originating online, they recently entered the physical retail space, allowing customers to experience and participate in their consignment offering.  In terms of product, brands like Louis Vuitton, Nike, Gucci, Rolex and much more are displayed online and in-store. The Real Real encourages guest participation, in effort to sustainably extend the lifecycle of fashion.  Guests can visit their three locations in SoHo, Midtown Manhattan, and Los Angeles.

Nordstrom’s “See You Tomorrow” NYC flagship concept duals as an online and in-store center for recycled apparel. Product stems from the Nordstrom Quality Center, which receives and processes past returned items. In tandem with Nordstrom’s in-house products, customers can add to inventory through their own wardrobe. If items are accepted, customers receive a Nordstrom gift card which they can use online, or in-store. In the future, Nordstrom aims to develop a program where users can simply mail their apparel in, allowing Nordstrom to build inventory while also including a nationwide audience.

Stock X, an eCommerce site that tracks price analytics of sneakers and other streetwear, announced the opening of their NYC brick and mortar location on Lafayette St. Taking the route of experiential service, Stock X offers on-site authentication, pay out on sold items (via the website), and customer appreciation events. Their consultancy approach to streetwear, and now collectables, bridges the gap between their online presence, and physical human engagement.

Once stigmatized, the consignment store is now a major sustainability effort in the retail process. With the success of apparel, the E-tail consignment space is now growing in categories outside of simply apparel. By implementing access to exclusive merchandise, and satisfying luxury taste, shoppers are encouraged and empowered to try brands they’d likely avoid in the past. As the trend builds upwards digitally, and product categories expand, expect companies to invest in physical spaces to further engage guests and build brand awareness.

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