US-based Recurate, the branded resale technology leader, has released the inaugural Recurate Resale Report.
Released in partnership with social impact agency BBMG, the report is based on the survey of thousands of adults in 11 prominent markets across the world, including a mix of non-active and active recommerce customers, to understand their shopping habits.
While it also highlights the goldmine that is resale, it goes on to focus specifically on the benefits of brand-owned resale — an undeniable business opportunity that more and more apparel brands (think Levi Strauss, The North Face and Timberland, to name but a few) are already seizing.
Karin Dillie, VP of Partnerships, Recurate, says, “This consumer report quantifies the tremendous opportunity of brand-owned resale. The numbers are clear— brands who launch in-house resale programmes can create substantially more loyal, more frequent customers than brands who don’t.”
The report highlights that resale is not niche and not just for Gen Z as 74 percent of people across all major markets, ages, genders and socioeconomic statuses shop recommerce.
Similarly, brand loyalty will increase with brand-owned resale. 75 percent of all recommerce shoppers said brand-owned recommerce would increase their brand loyalty and frequency.
The report says that brands aren’t doing enough in this direction as 62 percent of individuals interested in reselling pre-owned items feel brands could do more to help them participate in recommerce.
