Taking care of our planet and going green is at the forefront of the consumer mindset. With the growing amount of information about the fashion and retail industry’s negative impact on the environment so easy to find, consumers have modified their shopping habits to reflect their sustainable values.
Thanks to an increasing focus on buying gently used and recycling clothing items, resale retail shops have been able to flourish in their communities – by 2021, the resale industry is estimated to reach $36 billion, and by 2028, secondhand shopping is projected to outgrow fast fashion purchases as consumers turn away from buying disposable clothing items. Here are just a few trends resale business owners should know:
Convenience plays a major role in how consumers shop – nine in 10 consumers have stated they’re more likely to choose a retailer based on convenience, and 52 percent of consumers allow convenience to influence at least half of their overall purchases. Currently, fast fashion serves as an affordable, accessible alternative to many financially strained families, forcing them to purchase short-term clothing that will soon end up in a landfill.
However, having a resale retail shop in the community can offset that push towards fast fashion, thanks to higher quality clothing that still fits into their budget. Children’s clothing expenses can add up quickly thanks to a growing child, so resale locations like Once Upon A Child® can not only help families ensure their children are wearing clothes that will both fit and last as long as they need it.
2. Helping the Local Economy
With consumer trends continuing to lean towards upcycling and consignment, many traditional retail brands are seeing a disruption in their sales models. Having a resale retail store within the community creates its own circular economy – relying on community members to act as both customer and supplier. A circular economy cycle offers consumers an alternative method of attaining products they need, while offering up the opportunity to support local business.
Additionally, the large scale of recycling occurring within the local community creates a tight-knit supply chain, reducing the amount of carbon dioxide emitted by air and freight transportation. With the existence of any of the five brands under the Winmark umbrella within the community, shoppers have the ability to show their support for the local economy while saving money on the items they need.
3. Positive Environmental Impact
Due to the increasing awareness consumers have about their impact on the environment, it’s more important than ever to offer sustainable brands that hold similar beliefs as target markets. Customers are willing to pay a premium for sustainable businesses – the hypothetical premium for a mission-driven brand would be a 15-30 percent increase. Consumer beliefs drive what they buy, with nearly six in 10 consumers reporting their willingness to change shopping habits based on environmental impact.
Furthermore, consumers are more likely to buy from stores that show a visible commitment to similar values, and nine in 10 Gen Z consumers believe companies have a responsibility to address environmental issues. Since the launch of the Play It Again Sports® franchise opportunity in 1988, Winmark brands have been dedicated to promoting a positive environmental impact, and are constantly evolving our sustainability initiatives throughout all five brands.
The backlash on fast fashion is growing quickly, and resale retailers need to be standing by prepared to cater to the values and needs of consumers across the globe. The existence of a Winmark franchise within the community gives local shoppers a convenient answer to their need to go green with their spending habits – making it a successful staple within the community.
Looking to join a franchise that is constantly committed to sustainable business practices? Download one of our franchise packets today!