User:Karinakathy05/sandbox
Intro[edit]
Resale can be seen in everyday life from yard sales to selling used cars.
Sustainability[edit]
Reselling creates a circulation of products, whether that be clothes, technology, books, etc. This circulation extends the lifespan of products and reduces the amount of waste in landfills for a longer time. [1]This process of reselling also minimizes the carbon footprints of clothes for instance. 82% is about how much carbon footprints are reduced when purchasing used clothing versus new clothing.[2]A used product purchased over a new one, (such as clothing) is capable of saving about 1kg of waste, 22kg of CO2, and 3,040 liters of of water.[3]
Internet[edit]
Digital Platforms for Resale[edit]
Some of the platforms used to resell are websites and apps such as Poshmark, eBay, Mercari, thredUP, Facebook Marketplace, and many more. All these platforms have products that are new, resold, and even used.[4] Some major companies have an extension to their franchise in which they sell their own products that may be "out of season", used, or recycled and resell them. Examples of this would be COACH (Re)Loved[5] and LEVI Secondhand[6]. By reselling these companies are decreasing the amount of waste and reducing their carbon footprints.
The Rise of Resale[edit]
$175 billion is the amount that Global Data that was predicted for the total resale market of 2023 in the United States.[7] But in fact, Global Data confirms that this value was exceeded and in 2023 the total resale market reached approximately 193.7 billion.[8]
History[edit]
Dating back to the Middle Ages, trading of secondhand clothing was common for impoverished communities. Although the concept of "thrifting" sprouted long before, it wasn't until the formation of official organizations such as The Salvation Army and Goodwill, that secondhand clothing/items flourished. Even though the popularity of resale/secondhand items fluctuates, these are still concepts that are familiar in the 21st century.[9]
Artificial Intelligence[edit]
AI is being used in the works of resale, allowing resellers to automatically purchase high-demand products without actively being present. With such technology, resellers can focus on other important tasks all while getting their inventory at the best possible price with the help of AI. But this doesn't mean that people should disregard their involvement with business purchases, as it remains essential for resellers to monitor expenses and participate in decision-making.[10]
- ^ "The Environmental Impact of Resale » Uptown Cheapskate Franchise". uptowncheapskatefranchise.com. Retrieved 2024-03-12.
- ^ Reinhart, James. "2021 Resale Report". ThredUp. Retrieved March 10, 2024.
{{cite web}}: CS1 maint: url-status (link) - ^ Nast, Condé (2022-01-15). "The Rise Of Resale: How Second-Hand Became Fashion's First Port Of Call". British Vogue. Retrieved 2024-03-17.
- ^ Vargas, Andrea (2021-12-23). "16 Best Places to Resell Online". B-Stock Solutions. Retrieved 2024-03-13.
- ^ "Coach (Re)Loved | COACH®". www.coach.com. Retrieved 2024-03-13.
- ^ "Thrift and Vintage Levi's Jeans and Trucker Jackets". www.secondhand.levi.com. Retrieved 2024-03-13.
- ^ Robertson, Thomas S. (2023-11-01). "The Resale Revolution". Harvard Business Review. ISSN 0017-8012. Retrieved 2024-03-17.
- ^ "Apparel Resale Market Report Overview". Global Data. November 30, 2023. Retrieved March 17, 2024.
{{cite web}}: CS1 maint: url-status (link) - ^ "Thrifting through the ages: How we've strayed from central values - The Arizona State Press". www.statepress.com. Retrieved 2024-03-18.
- ^ administrator (2023-12-13). "How AI Is Impacting Consignment and Resale". Aravenda Consignment Software. Retrieved 2024-03-18.