Monday, June 24, 2024
spot_imgspot_img
spot_imgspot_img
HomeTechnical ArticlesA recent study from the Boston Consulting Group (BCG) reveals that Cloth resale demand...

A recent study from the Boston Consulting Group (BCG) reveals that Cloth resale demand growth could see a CAGR of 15 to 20%

cloth-resaleA recent study from the Boston Consulting Group (BCG) says that a composite annual growth rate (CAGR) of 15 to 20 percent could see resale demand growth increase in the next half-decade. The researchers alone estimated a possible CAGR of 100% for the next half-decade in some geographically located online resale matches. BCG surveyed 7,000 consumers in six countries and particularly people who work on the online fashion resale site, called Vestiaire Collective. The goal was to investigate a fast gaining competitive market, which is situated on the bright side of Covid-19’s drastic shifts in customer behavior.

An embarrassed economy has been disastrous this year for the world market of luxury goods when all sources of discretionary investment have ceased. The positive news is that the demand for luxury hasn’t vanished – illustrated from the past. The industry has gained ground all over the world – between 30 billion dollars and 40 billion dollars. Against this context, the only path seems to be upward provided that resale constitutes only 2% of the world fashion industry.

Weekly Newsletter

Get hand picked industry updates delivered straight to your inbox
SUBSCRIBE

YOU MAY ALSO LIKE

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement - spot_img

Join Our Weekly Newsletter

Get hand picked industry updates delivered straight to your inbox
Sign Me Up
- Industry Associate - spot_img

Upcoming Events

Simillar News

Recent Random

Renewcell Bankruptcy: A Setback for Circular Fashion Technology

Introduction: Renewcell offered hope in sustainable fashion, where creativity and environmental awareness coexist. The Swedish company, known for its innovative work in circular fashion...

HOPETECH is dedicated to apply new industrial digital printing technology into textile industry

Guangzhou International Textile, Clothing and Printing Industry Expo (ITCPE) has become a professional exhibition with wide influence, high popularity and good effect. Focusing on...

Together, we can weave a future where sustainability is not the exception but the norm

IntroductoryAs a legitimate representative of USB Certification Bangladesh, I am honored to address all of you regarding the vital sustainable sectors in the textile...
Get hand picked industry updates delivered straight to your inbox
Sign Me Up

Weekly Newsletter

Get hand picked industry updates delivered straight to your inbox
SUBSCRIBE