H&M Launches a Resale Program With thredUP
H&M launched a resale program Tuesday in collaboration with thredUP, an online consignment platform that has partnered with dozens of brands to run their used clothing sales, the fast-fashion retailer told Reuters. H&M will be the largest retailer to work with thredUP, and the partnership will mark the retailer's first resale marketplace in the United States, according to Abigail Kammerzell, head of sustainability for H&M North America. Roughly 30,000 articles of clothing will initially be available on H&M’s resale site. thredUP is responsible for powering the site and restocking it with H&M pieces sent in by users.
Total Retail's Take: Like many others in the fashion space, H&M is testing the waters with resale. In addition to the obvious sustainability benefits that a resale program yields, there's potentially real financial value in this move for H&M as well. According to thredUP’s 10th annual resale report, the global secondhand apparel market will grow 127 percent by 2026 — three times faster than the global apparel market overall. Furthermore, the U.S. secondhand market will more than double by 2026, reaching $82 billion.
It's also worth noting that H&M's target demographics — millennial and Gen Z consumers — are most likely to be shopping for secondhand items, both for their relatively low cost and their sustainability benefits. Given these factors, perhaps it's surprising that H&M had not established a resale program in the U.S. until now.
