Danielle Vermeer

“When you look at the history of the internet,” says Jeremy Morris, associate professor of media and cultural studies at the University of Wisconsin-Madison, “a lot of the early spaces for communities also became places where people would either trade or barter.”

Eschewing an overt materialism, the rich are investing significantly more in education, retirement and health. Education accounts for almost 6% of top 1% household expenditures, compared with just over 1% of middle-income spending. Inconspicuous consumption confers social mobility.

Thanks to increased consumer consciousness around sustainability, the circular economy, and fair labor, resale has become fashion’s hottest sector—and brands want in. But scaling and making resale profitable isn’t easy, and with increasing competition in the space, it’s only going to get harder. 

Research by environmental charity Wrap shows that extending the life of an item of clothing by just nine months could cut its environmental impact by up to 10 percent.

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In the US alone, the secondhand fashion market could grow 20% between 2020 and 2025 to reach $67 billion in size, according to estimates by Business of Fashion Insights.

Updated v2: Self-Regulation Cheat Sheet 🤓 https://t.co/d6pudBoN1V