Document Type

Conference Proceeding

Publication Date

11-12-2020

Journal Title or Book Title

Northeast Business and Economics Association (NBEA) 2020

Version

Publisher's PDF

Publisher's Statement

PUBLISHED BY THE NORTHEAST BUSINESS & ECONOMICS ASSOCIATION © 2020 The Northeast Business & Economics Association reserves the right to publish the Proceedings in both print and electronic formats. The individual authors retain the copyright over their own articles.

Abstract

The technology that created the boom in online shopping has turned the local thrift store into a mainstream phenomenon. Customers of the future will look for ways to recycle, resell or upcycle, and will be drawn to the incredible value of buying secondhand, with millennials and Gen Z adopting second hand faster than other age groups. This will have a significant positive impact on global sustainability, as the fashion industry produces 10% of all carbon emissions, is the second-largest consumer of the world’s water supply, and pollutes oceans with microplastics. The clothing industry follows oil as the second largest industrial polluter. In the US, consumer trends indicate that shoppers who don’t want to be seen in the same outfit twice have resulted consumers’ buying 60% more clothing today than they did 15 years ago, but keep the items only half as long. In Europe, clothing resale has brought the conversation of ethical buying back into the spotlight. Globally, the fashion resale and rental market is exploding, growing 21 times faster than the retail market over the past three years. The objective of this study is to better understand consumer attitudes and behaviors with regard to the apparel resale economy.

Related Pillar(s)

Study

Comments

The authors are graduate students with the exception of Meryl Rosenblatt who is faculty.

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