Consumers have become progressively aware of the detrimental impact of fast fashion and the importance of reducing their carbon footprint. Many are making conscious efforts to change their spending habits to reflect a sustainable and ethical lifestyle. This change in thinking has caused a resale boom, making a positive environmental impact as consumers reexamine where and how they buy their products.
While sustainability initiatives have certainly shifted consumer habits, the coronavirus has also impacted consumers' spending habits. The pandemic has prompted consumers to spend less and only purchase essential items, paving the way for resale brands to act as a critical resource to consumers.
With the rise of sustainable fashion, the next generation of shoppers is leading the charge to support resale brands. Most Gen Z consumers see no stigma in buying secondhand clothing, many of whom have bought used clothing, shoes or accessories.
Our Commitment to Sustainability
Since 1988, Winmark Corporation® has been able to promote a positive environmental impact, buying and selling quality used products that are locally sourced from the customers in their own communities. We have been the leader in the retail resale industry through our sustainability initiatives, helping support the growth of our five resale franchise companies.
Last year, our five resale brands, Once Upon A Child®, Plato's Closet®, Style Encore®, Play It Again Sports® and Music Go Round® purchased a cumulative total of over 141 million units of clothing, toys, books, musical instruments and sports equipment, which has allowed us to reduce landfills and bring consumers quality used products that fit within their budget.
Our resale franchises are committed to contributing to a greener environment. Not only do our clothing resale concepts keep hundreds of textiles from landfills, our other concepts – Music Go Round and Play It Again Sports – keep a multitude of different products out of landfills as well.
The Downfall of Fast Fashion
While fast fashion has acted as a convenient, low-cost way for consumers to keep up with the latest fashion trends, the fashion industry is responsible for 8% of carbon emissions. Additionally, the average American throws away around 81 pounds of clothing yearly.
With our retail franchise models, consumers can shop for quality secondhand products at an affordable price instead of purchasing a fast fashion item that will likely need to be replaced much sooner. Our model cuts down on the cost of continually replacing low-quality products and, in turn, decreases each person's waste output.
Our retail franchise models allow consumers to shop for gently used products at an affordable price, preventing the need to purchase new items and fill landfills. When clothes end up in landfills, they create greenhouse gases, which contribute to climate change. By recycling unwanted clothes instead of trashing them, fewer monetary and environmental resources are wasted in growing fiber for new ones.
Aside from breathing new life into secondhand goods and keeping them out of landfills, there are several collateral benefits to resale. Among the benefits include cutting down manufacturing costs, eliminating transportation costs and creating generations of resourcefulness.
The resale market grew 25 times faster than the overall retail market last year, with an estimated 64 million people buying secondhand products in 2019.
Secondhand products represent a $28 billion business segment projected to more than double to $64 billion by 2024.
Our franchisees are given the opportunity to join a thriving retail industry while becoming a part of something bigger than themselves. If you're interested in learning more about a resale retail franchise opportunity that is focused on a greener future, take a look at our infographic here.