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Secondhand clothing is the new black. Driven by sites like Poshmark, thredUP and The RealReal, the apparel resale market is outpacing the primary one and becoming the go-to fashion staple for socially conscious Millennials and Gen Z: around 30% will participate in resale or rental transactions this year, and that will go up to 50% in 2020. What’s more, these two generations are likely to spend more money with their favorite retailers if those retailers sell secondhand apparel or have an environmentally conscious way of dealing with returned and excess stock (score one for the environment!).
Today’s consumer purchases happen more rapidly than ever, making returns an unavoidable aspect of the shopping experience. Every year, billions of dollars worth of returned goods make their way back to retailers, often resulting in excess inventory. Many of these…