Our revised US resale forecast reflects a slowdown for the ecommerce-dominated market, as the cost of selling one-of-a-kind items online comes into focus.
The ecommerce-dominated resale market is facing a slowdown as platforms grapple with the mounting costs of selling one-of-a-kind items online. Major online resale platforms are responding by adjusting strategies to maximize order values and investing in technology to improve operational efficiencies.
Key Question: How can online resale platforms respond to weakened demand for secondhand goods?
Key Stat: In 2024, online resale revenues will surpass $80 billion, but this figure is more than $8 billion lower than our previous forecast.
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Table of Contents
Executive Summary
Softening demand will impact the trajectory of recommerce
Major online resale platforms are shifting their strategic focus
AI technology has the potential to revolutionize online resale
What can retailers learn from the maturing resale industry?
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Ecommerce Resale Will Resume Growth in 2024, but at a Slower Pace Than Previously Expected (billions in US ecommerce resale volume and % change in current vs. previous forecast, 2023-2027)
Fashion Online Resale Will Grow at an Accelerated Rate and Make Up a Larger Share of Online Resale (billions in US fashion online resale platform sales, % change, and % of total ecommerce resale volume, 2023-2027)
Online Fashion Resale Will Increasingly Depend on Increased Spend per Buyer to Drive Growth (% change in US fashion online resale platform buyers vs. fashion online resale platform sales per buyer, 2023-2027)
The RealReal's Shift to Prioritizing More Expensive Merchandise Effectively Boosted Order Values (average order value worldwide on The RealReal, Q1 2022-Q4 2023)
Ecommerce Resale Will Resume Growth in 2024, but at a Slower Pace Than Previously Expected (billions in US ecommerce resale volume and % change in current vs. previous forecast, 2023-2027)
Fashion Online Resale Will Grow at an Accelerated Rate and Make Up a Larger Share of Online Resale (billions in US fashion online resale platform sales, % change, and % of total ecommerce resale volume, 2023-2027)
Online Fashion Resale Will Increasingly Depend on Increased Spend per Buyer to Drive Growth (% change in US fashion online resale platform buyers vs. fashion online resale platform sales per buyer, 2023-2027)
The RealReal's Shift to Prioritizing More Expensive Merchandise Effectively Boosted Order Values (average order value worldwide on The RealReal, Q1 2022-Q4 2023)