In reflecting on my 2021 retail musings, I discovered a full two-thirds of the nearly three-dozen articles touched on five main topics – Sustainability and Conscious Consumerism, Big Box Specialty Stores, Big Discounters’ Dominance, Direct-to-Consumer Brands (DTC), and Mall Fall and Overhaul. A brief recap may provide a guide for what will be on our radar in 2022.
Sustainability and Conscious Consumerism
It is undeniable that the stigma once associated with buying secondhand has more than evaporated, it is becoming a net positive driven by millennials and Gen Z consumers. Even the much-discussed supply chain woes played to the reseller’s advantage this past year with its inherent “closed-loop” sourcing.
In October I suggested that companies like Poshmark and ThredUp were going to reap big holiday benefits. I noted that GlobalData predicted that retail resale would grow eleven times faster than the broader fashion retail sector through 2025, to an estimated value of $77 billion. It is expected to eclipse fast fashion by 2028. Click to read more at www.forbes.com.