Co-Founder & CEO of Teleport. Writer of Goodwill Hunting, a newsletter hunting the best pre-loved fashion finds, insights, and jobs. 11+ years of buying no new clothes.
Goodwill Hunting #06: how aggregation theory applies to resale fashion
Until recently, there was very little understanding or acknowledgment of the physical and psychological effects of systemic racism, intergenerational trauma, and gender discrimination.
Resale is growing 3X faster than retail fashion. 3X—ThredUP estimates that the global secondhand apparel market will grow 3X faster than the global apparel market. 8X—in North America, it’ll grow to $82 Billion by 2025.
At surface level, Shein and Depop are polar opposites, but this is more about the what and the how of their business models. Diving deeper, we see that both Shein and Depop address a similar who and why. Both Shein and Depop meet the same underlying consumer needs for trendy, cheap fashion.
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The more desirable future is outlined in Q1, with authenticated items being on sale in curated settings. Here is where Web3 comes in as a value add to physical goods as one of the most reliable authentication mechanisms that also lends scale and durability.