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Fashion online resale platform sales from companies like The RealReal and thredUP grew 1.5% this year to reach $13.10 billion, per our forecast. The 2024 takeaway: There鈥檚 momentum around resale, particularly in fashion, but it may take a while for that to equate to sales growth. We forecast total resale volume will return to growth in 2024, rising 3.3% to reach $108.64 billion.

鈥淲e can especially see this paradox at work when it comes to 蹿补蝉丑颈辞苍,鈥� said our analyst Sky Canaves. 鈥淓ven with less money to spend, Gen Z consumers are more likely than older generations to say they鈥檙e willing to spend more on sustainably produced apparel, but they鈥檙e also the driving force behind the rise of ultra-cheap, ultra-fast fashion from brands like Shein.鈥�. Another possibility?

-China Economic and Security Review Commission (USCC) published a report highlighting various challenges to US interests posed by Chinese fast-fashion platforms.

Thanks to Prime Day, average daily sales of backpacks, stationery, and school supplies on Amazon were up 216% in July compared with June, and sales of kids' apparel spiked 165%. Amazon鈥檚 campaign encouraging parents to spend less on their kids was also an A+ move in a season where people are really prioritizing value. 鈥淚 love the 鈥榮pend less on your freeloaders鈥� commercial,鈥� said Davidkhanian.

Fast fashion takes a back seat in the BTS world. Deloitte鈥檚 2023 Back-to-School Survey showed a 15% drop in parents who indicated they choose sustainable BTS products, but fast fashion was still the retailer of choice for 20% of parents. A whopping 80% of US parents prefer mass merchant retailers for BTS shopping. The economy is pushing consumers to look for more ways to save.

That was in stark contrast to apparel retailers, which saw visits fall by 16.2% in the same month. Both Macy鈥檚 and Nordstrom will open more off-price stores this year in a bid to drive store visits and sales. Macy鈥檚 plans to add 10 Backstage locations to existing Macy鈥檚 stores, while Nordstrom will add 20 to its Rack fleet.

TikTok continues to be a valuable sales channel, especially for beauty and apparel brands. Hairstyling brand Beachwaver credits the platform with helping drive its 30% year-over-year growth in 2023, while nearly 10% of Tarte Cosmetics鈥� online sales now come from TikTok Shop, per data from Nielsen IQ and Spate cited by BoF.

Motor vehicle and parts dealer sales; furniture sales; electronics and appliance sales; building material and garden equipment sales; food and beverage sales; health and personal care sales; gasoline sales; clothing and clothing accessories sales; sporting goods, hobby, book, and physical music sales; general merchandise sales; miscellaneous sales; nonstore sales (i.e., pure-play ecommerce platform sales

Consumers who prefer apparel brands like Nike, Skechers, and Tommy Hilfiger were not as active during this year鈥檚 Prime Day. 鈥淧eople with a high affinity for apparel were not spending a lot of time on Amazon this Prime Day because you don鈥檛 get a lot of brand-name apparel on Amazon to begin with,鈥� said Dick. 3. They鈥檙e not as discerning as the general population.

With the acquisition of Zulily, Beyond could add clothing, accessories, children鈥檚 products, electronics, and beauty products to the mix. Though there is some overlap, Beyond can use each brand鈥檚 unique pricing model to differentiate them. Overstock began as a retail liquidator, offering customers closeout prices.

Well, I'd first like to say with startups, there are definitely companies that are providing services for retailers where you can, maybe not with a catalog of clothes as large as H&M or Fashion Nova or something like that, but there's definitely services for you to offer full try-on services to your customers. Marcus Johnson (16:17):. Yeah, this is so fascinating. Jacob Bourne (16:19):.

Retail includes mail order/catalog, restaurants/fast food, drugstores, retail stores, cosmetics stores, and merchants of apparel, home furnishings/textiles, toys, pet food/supplies, appliances, jewelry, and general merchandise.Less.

Why it matters: Shein鈥檚 ability to identify and produce on-trend apparel online has enabled it to garner a 40% share of the fast-fashion market in the US, per Bloomberg, and the company is continuing to explore growth opportunities.

鈥淚f I鈥檓 in the market for apparel, Under Armour is going to be my initial go-to. It doesn't matter which piece of apparel. For that reason, having a sponsored brand video on the top that is more focused on your brand versus a very specific product [is going to be a better tactic].鈥�. Align your display advertising goals with the right key performance indicators:.

Case study: Fashion brand AllSaints worked with Rakuten to understand where buyers were shopping outside their site and their own stores. 鈥淭hey spent around a third of their apparel wallet at Nordstrom, Saks, and Bloomingdale鈥檚. They also scored very high for shopping at Revolve and The RealReal,鈥� said Gill.

You and I might clean out our closet or a retailer does a take back program in which consumers bring back their old product, clothes, shoes, accessories. We're taking that on, providing it to wider audience where people may not otherwise have access. They're able to buy this product at a nominal cost.

A Meta representative told Business of Fashion that the company mandates content creators to comply with Australian advertising laws and regulations, and creators sharing branded content on its platforms must use the "paid partnership" label.

Upper-income households once again accounted for the majority of Walmart鈥檚 share gains during the quarter in categories like fashion, home, and hard goods. Walmart is working hard to keep those shoppers loyal even as inflationary pressures wane.

To cash in, retailers like Walmart, Target, and Kroger are expanding their private label lines across categories like food and beverage, household essentials, and apparel. Here are five key stats on why, where consumers are shopping for private label brands, and how retailers can benefit. 1. Private label sales are on the rise.

For example, a clothing brand may retarget people who鈥檝e viewed one product picture differently from someone who has viewed three pictures. But the wealth of information event tracking presents can be daunting. 鈥淭here is so much potential of what you can do, it鈥檚 hard to figure out what you should focus on,鈥� said Harris.

Maxx, Marshalls, Burlington, and Ross Dress for Less mostly outpaced visits to non-off-price apparel chains in the first four months of 2024, per Placer.ai.

Based on July鈥檚 Prime Day event, home goods, apparel, and shoes could be the top sellers this holiday season. However, consumers are likely to wait for a good deal before they make a purchase. Expect lots of comparison shopping and holding out for last-minute deals. 3. Make the digital-physical gap as narrow as possible.