Revised US resale forecasts reflects a slowdown for the ecommerce-dominated market, as the cost of selling one-of-a-kind items online comes into focus.
The ecommerce-dominated resale market is facing a slowdown as platforms grapple with the mounting costs of selling one-of-a-kind items online. Major online resale platforms are responding by adjusting strategies to maximize order values and investing in technology to improve operational efficiencies.
Key Question: How can online resale platforms respond to weakened demand for secondhand goods?
Key Stat: In 2024, online resale revenues will surpass $80 billion, but this figure is more than $8 billion lower than previous forecasts.
Here’s what’s in the full report
- 2 Exportable files for easy reading, analysis and sharing.
- 7 Charts: Reliable data in simple displays for presentations and quick decision making.
Table of Contents
- Executive Summary
- Softening demand will impact the trajectory of recommerce
- Major online resale platforms are shifting their strategic focus
- AI technology has the potential to revolutionize online resale
- What can retailers learn from the maturing resale industry?
- Sources
- Media Gallery
Charts
- Ecommerce Resale Will Resume Growth in 2024, but at a Slower Pace Than Previously Expected (billions in US ecommerce resale volume and % change in current vs. previous forecast, 2023-2027)
- Online Resellers Are Grappling With Slowing Active Buyer Growth
- Fashion Online Resale Will Grow at an Accelerated Rate and Make Up a Larger Share of Online Resale (billions in US fashion online resale platform sales, % change, and % of total ecommerce resale volume, 2023-2027)
- Online Fashion Resale Will Increasingly Depend on Increased Spend per Buyer to Drive Growth (% change in US fashion online resale platform buyers vs. fashion online resale platform sales per buyer, 2023-2027)
- The RealReal's Shift to Prioritizing More Expensive Merchandise Effectively Boosted Order Values (average order value worldwide on The RealReal, Q1 2022-Q4 2023)
- Cost Optimization Strategies for 2024 According to US Retail CFOs, Oct 2023 (% of respondents)
- 4 Way A Technology Will Impact Resale
