Recommerce

While peer-to-peer resale sites may have envisioned users to be individuals seeking to sustainably sell their own pre-loved clothes, a growing class of entrepreneurs are driving their growth.

A key part of the company’s effort to become a circular business by 2030.

The resale market is projected to be worth $77 billion in the next five years and growing 11 times faster than traditional clothing retail.

Innovative ideas include COS clothing starting its own resale site, and Feather furniture building its own furniture to rent out.

Plus, how Salesforce sustainability guru Patrick Flynn is motivating suppliers to get on board with science-based targets.

The fashion resale market in the U.S. is projected to grow to $64 billion by 2024.

These retailers are at different stops on their circular business journeys.

While recommerce is not immune to the pandemic-induced downturn, it offers options for people trying to save money and reduce their carbon footprint.