Millenials making money from reselling used clothes online

August 20, 2017

From the rise of Netflix original series, Girl Boss, to the easy access we all have to the internet, re-selling your clothes seems like an increasingly appealing option. A new survey has suggested the average woman has at least £2,400 worth of clothes that hang in her wardrobe untouched; so why would you not want to make some money back from your unused items?

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In the face of economic austerity, more and more women are looking to fashion to empower them financially. There has been a massive rise in ‘closet entrepreneurs’, or women who have joined the resale revolution and are selling their pre-loved clothes online. You can see the appeal; selling your old clothes online is a quick and easy way to make money, and clear some wardrobe space at the same time.

It is not just finance that is persuading women to buy less and sell more, however. Trends in fashion are also leaning towards minimalism. Studies show that women bought on average 37 items in 2016, compared to 51 in 1996. The increasing interest in minimalism and capsule wardrobes demonstrates the desire to cut back on clothing splurges and curate the perfect closet. Lifestyle and fashion vloggers are addressing the topic, with around 203,000 YouTube videos dedicated to the subject.

A rise in peer-to-peer marketplaces online would suggest that we are taking to the internet to offload our old outfits. 49% of the resale market is taken up by clothing, accessories and shoes. A study by clothing resale website thredUP revealed that if you shopped second-hand exclusively for one year, you could save a staggering £1,652. Add this to the £2,400 worth of saleable clothes you have in your wardrobe and you could end up with a beautifully minimal and carefully chosen closet, as well as £4,000 in the bank.

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However, becoming a successful closet entrepreneur takes a little insider know-how, with importance placed on understanding demand. Poshmark, a mobile marketplace for fashion, has suggested that the most popular brands for reselling are: Nike, Lululemon, Michael Kors, Kate Spade, J.Crew and Tory Burch. If you have any of these brands hanging in your wardrobe then it’s definitely worth considering selling them online if you don’t wear the items as much anymore.

If nothing else, you can certainly be sure of customers, with 30% of millennials saying they’ve shopped second-hand in the past 12 months, and 21% saying they intend to. The fact that many of the most popular brands on resale websites lie firmly in the luxury clothing sector reveals a lot about who these second-hand shoppers are. 2017 has seen an increase in so-called ‘high-income thrifters’, who are 35% more likely to try used clothing websites than low-income shoppers.

Tips for reselling clothes and accessories online:

  • Offer discounts: 94% of women say they rarely buy clothing that’s not on sale
  • Make sure you take nice photos: take photos with you in the clothes so a buyer can get a feel for what they will look like on them
  • Get social: 39% of consumers said that social networks provide their main inspiration for purchases, so make sure you are up-to-date with Instagram trends, and even promote your online resale store on your social media channels.
  • Be honest: make sure you make a potential buyer aware of any wear and tear, otherwise you could risk getting your account suspended because of a disgruntled customer.
  • Sell activewear: Last year, gym and sportswear was the fastest growing category of clothing, probably to meet growing demand for fashionable fitness ensembles.
  • Put clothes on at the right time: Research revealed that most second-hand thrifters shop between 9pm and 10pm.

So, if you have old clothes hanging around and taking up space, why not give this a try? There are loads of places you can sell online now and there’s nothing to lose from trying.

One response to “Millenials making money from reselling used clothes online”

  1. I sell all my clothes online when I’m done with them. Makes me feel less guilty for how much I buy! Another thing I would always suggest is include the postage price with the item as opposed to adding it on top x

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