Rethinking Resale: Navigating Circular Fashion

In the third and final episode of our mini-series on the circular economy, Barry O'Kane and Emily Swaddle, continue their delve into the rapidly evolving world of re-commerce within the fashion industry. With new platforms emerging and existing ones scaling up, it's an exciting yet complex time to explore the intersections of fashion, technology, and circularity. In this final episode, they gathered insights from industry leaders, including Gerrard Fisher, Kristina Bull, Joe Metcalfe, Andy Ruben, Wilson Griffin, J.R. Siegel, Cynthia Power and Jessica Potter to discuss the challenges and opportunities within re-commerce.

Whether you're new to the podcast or following along from previous episodes, this conversation is packed with valuable takeaways for anyone interested in sustainability, technology and their intersection in the world of fashion.

 

6 Key Takeaways from Episode 3:

 

1. Re-Commerce is a Growing and Evolving Space

Re-commerce isn't just about peer-to-peer platforms like Vinted; it's a much broader ecosystem. From brand-owned resale programs to third-party managed platforms, the re-commerce landscape offers various business models that cater to different consumer needs. Technology plays a crucial role in scaling these operations efficiently.

2. We're in a Period of Transition

The fashion industry, particularly re-commerce, is in a phase of massive growth and change. While platforms are scaling, many processes—like pricing and quality control —are still being optimised. According to Gerrard Fisher and Kristina Bull, this transition will take time but is necessary to ensure long-term success.

3. New Opportunities for Jobs and Ecosystems

One of the positive outcomes of this shift is the creation of new jobs and business models. Joe Metcalfe shared a success story about a family that transitioned from corporate jobs to running a successful re-commerce business on platforms like eBay. Re-commerce offers numerous opportunities for both individuals and organisations.

4. Technology is the Key to Optimising Circular Fashion

The guests emphasised the importance of technological innovations in making re-commerce scalable and accessible. From optimising photography and listing processes to improving logistics, technology is the enabler that allows re-commerce platforms to grow without increasing their environmental footprint.

5. Aligning Business Incentives is Crucial

Wilson Griffin pointed out that brands need to find a way to benefit from resale, not just the first sale. This is essential to drive real change in the industry and make re-commerce a financially viable model for brands.

6. Circularity is About More Than Just Resale

Re-commerce is one piece of the puzzle in creating a circular economy. Other models, such as renting and repairing, are also vital components. The broader goal should be to reduce overproduction and overconsumption, which requires a shift in both consumer behaviour and business priorities.

 

This episode provides a rich and nuanced discussion on the possible future of re-commerce and circular fashion. It's clear that while we're making strides, there's still much work to be done. However, with the right technologies, business models, and collective effort, re-commerce has the potential to be a significant part of the solution to fashion's sustainability problem.

Don't miss out on the full conversation! Listen to the episode here and join the conversation on how we can continue pushing re-commerce forward.

 

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