Is Secondhand Fashion Retail’s Bright Spot in the Coronavirus Crisis?

A roster of new names offering abstract, streamlined and sustainable designs HYPEBEAST Features - Go in-depth and learn more about the culture. [HYPEBEAST]( [Features]( April 24, 2020 [Is Secondhand Fashion Retail’s Bright Spot in the Coronavirus Crisis?]( With the help of increased digitization, it might be. [Is Secondhand Fashion Retail’s Bright Spot in the Coronavirus Crisis?]( Eddie Lee/Hypebeast Stock markets have plummeted, stores nationwide have closed — whether temporarily or for good — and the daily news makes one narrative clear: the state of fashion retail is bleak in the wake of the coronavirus pandemic. Retail sales dropped by a record low of 8.7 percent in March, marking the steepest decline since the government began conducting the data nearly three decades ago. But there’s another story as leaders in the secondhand market sing a different tune; business is reportedly booming — at least where digital capabilities can carry the load. Like the brick-and-mortar businesses that can sustain it, resale e-commerce giants such as eBay, StockX and Depop have all adopted work-from-home practices in order to abide by “stay-at-home” and “shelter-in-place” guidelines. As users around the world spend more time online, these companies have benefited from the uptick both in terms of browsing and buying. [Is Secondhand Fashion Retail’s Bright Spot in the Coronavirus Crisis?]( Eddie Lee/Hypebeast “Thus far, our sales volume and traffic numbers have been largely unaffected by recent events. As for sneaker prices, they are experiencing far less volatility than the stock market,” StockX said in a statement to HYPEBEAST. The company has since (somewhat to the ire of fans) added new buyer fees to its sales process. “Despite their similarities, overall, the sneaker market and stock market function in very different ways. Whereas stock prices are highly sensitive to macroeconomic changes and the performance of specific businesses, sneaker resale prices are largely driven by supply and demand for a specific commodity.” The impact has been similar for categories outside of footwear as well, as buying patterns have changed for consumers adjusting to life at home. eBay, for one, detailed several triple-digit “spikes in interest” across home, entertainment and health and beauty categories for “both used and new” products, as explained by Marni Levine, VP Seller Operations and Engagement. In some instances, the figures have even hit quadruple digits like in the case of webcams (which were up 1,000 percent year-over-year the first week of April) and puzzles (up 1,395 percent). Thus far, our sales volume and traffic numbers have been largely unaffected by recent events. Depop has experienced “record-breaking growth” for its traffic numbers in the U.S., exceeding its original business targets “by a huge margin” according to COO Dominic Rose. And the company points out that seller listings have also been on par with the influx of online activity, increasing as much as 80 percent year-over-year. Even more niche, emerging digital marketplaces have noted a significant boost. Thrilling CEO Shilla Kim-Parker says that “sales have exploded” across March and April for her company, which launched in 2018 and sources vintage pieces from local stores (primarily women-owned) around the U.S. The first few months of 2020 have already surpassed the platform’s sales volume for all of 2019; though the company has dropped its commission rate to zero amid the crisis, ensuring that 100 percent of every purchase goes back to the sellers themselves (eBay has enacted similar changes for small businesses through its Up & Running program). [READ THE FULL ARTICLE ON HYPEBEAST →]( [HYPEBEAST Features](   [More HYPEBEAST Features]( [[Matty Matheson’s Food Is Imperfect, F*cked Up, and Real] [MAGAZINE]( [Matty Matheson’s Food Is Imperfect, F*cked Up, and Real]( [[Survival Lit List for Trying Times] [ARTS]( [Survival Lit List for Trying Times]( [logo]( [Get The App Free on iOS and Android]( Follow [facebook]( [instagram]( [youtube]( [twitter]( --------------------------------------------------------------- 2020 HYPEBEAST Limited. All Rights Reserved [Manage Subscriptions]( You are receiving this email because you have subscribed to HYPEBEAST's marketing emails. You can unsubscribe from us any time by clicking [here](=====?utm_source=hb_features&utm_medium=email&utm_campaign=hb_features_April_24_2020). It may take 48 hours to complete the unsubscribe process. Contact subscription@hypebeast.com for assistance on any enquiries. Our Mailing Address: HYPEBEAST, 10F, KC 100, 100 Kwai Cheong Road, Kwai Chung, Hong Kong