As we step into the new year, the e-commerce landscape continues to evolve at a rapid pace, driven by technological advancements and changing consumer behaviors. In 2024, several trends are set to shape the e-commerce industry for secondhand fashion, influencing how resale businesses, such as consignment shop, operate and how consumers shop. In this article, we are going to explore some of the key trends that will dominate the e-commerce space this year.
One of the most significant trends that will continue to grow in 2024 is social commerce, or “live shopping”. Popularized in Asia and adopted by western businesses during the lockdown as a means of staying connected with consumers, live shopping has persisted beyond the COVID-19 era. It has evolved into an appealing business model for digital brands, marketplaces, and independent sellers as it allows anyone to become a virtual shopkeeper, utilizing live sales events to actively engage with their audience. The recognition and adoption of social commerce as a distinctive business model are evident through its endorsement by a leading figure in the fashion industry. Adding more context, during the Viva Tech 2021 event, LVMH identified the Swedish startup Bambuser as the top live shopping solution and entered into a year-long partnership with them - notably, Bambuser has reported a significant 36% increase in average cart additions compared to online shopping sessions without live streaming. This data underscores the potential of live shopping to stimulate e-commerce growth, providing brands with a fresh and interactive avenue to connect with their customers beyond their traditional platforms.
For aspiring live resellers you might be interested by Jamble, an application dedicated to live shopping, specialized in secondhand fashion. With over 750,000 items listed, Jamble stands as a versatile destination for fashion lovers and a game changer for pro-resellers; it offers a multitude of benefits. The marketplace provides an intuitive and straightforward platform for showcasing and selling your fashion pieces, whether they're vintage treasures or contemporary outfits. With a vast community of fashion enthusiasts, your pre-loved items get visibility among an engaged audience, increasing the chances of finding the right buyers. Jamble's commitment to sustainability also resonates with eco-conscious consumers, making it an ideal platform for reselling second hand items. The live shopping feature adds an extra layer of excitement to your selling strategy, as potential buyers can actively engage with your items during live auctions. This interactive approach not only makes the selling process more dynamic but also enhances the visibility and desirability of your fashion pieces.
Mobile shopping has evolved beyond a trend, solidifying its position as a foundational element in the e-commerce experience. The debate between mobile apps and websites remains pertinent, especially considering the increasing integration of phones into consumer consumption habits, as exemplified by the surge in Live shopping sessions on social media. Consumer preferences in this context are driven by convenience, with mobile formats providing a smoother and more personalized experience. This is particularly evident in the seamless navigation, personalized recommendations, and user-friendly interfaces offered by mobile apps. Conversely, websites cater to those desiring a more comprehensive range of functionalities. In light of these trends and advancements, Successful e-commerce businesses will need to strike a balance, to ensure their offerings are not only accessible but also optimized for both mobile apps and websites. This strategic approach is crucial for meeting the diverse needs of their customer base. Let’s take as an example, the successful players in the secondhand fashion digital realm, such as Vestiaire Collective and Vinted. These marketplaces have wisely embraced both website and app formats, a decision aimed at optimizing their visibility and diversifying their customer touchpoints. By doing so, they not only enhance accessibility for users but also create a seamless and versatile experience across platforms. This dual-channel strategy ensures that customers can engage with the marketplace through their preferred medium, thereby maximizing reach and accommodating the diverse preferences of their user base.
The explosive growth of secondhand fashion platforms within the e-commerce landscape presents an opportunity for fashion resellers. Esteemed platforms such as Vestiaire Collective, The Vintage Bar, Rebelle, and Vinted have spearheaded this transformative movement, redefining the way consumers approach and engage with pre-owned clothing. This boom not only reflects a shift towards sustainability but also opens up new avenues for entrepreneurs looking to capitalize on the resale market. Additionally, recent innovations in reselling services add a layer of trust to the market. Vinted's luxury authentication option, introduced in late 2023, enhances buyer confidence. Similarly, the launch of Libas authentication software contributes to a more secure and trustworthy reselling ecosystem. The convergence of technology, consumer awareness, and a desire for unique, eco-friendly fashion choices has created a dynamic environment where resellers develop can successful business while contributing to a more sustainable and circular fashion economy.
The emergence of "Cross Listing" is a promising practice for resellers, offering them a crucial insight into optimizing their development. Cross-Lisitng empowers resellers to showcase their products across multiple marketplaces simultaneously, representing a game-changing strategy to enhance both visibility and sales.
However, it's important to note that the management of this process can be time-consuming. In navigating this landscape, resellers may find additional support through services like Oly, a digital service that streamlines and facilitates the management of product listings across various marketplaces, further enhancing efficiency and expanding the reach of their offerings. Oly enable fashion resellers. to connect their eshop on Shopify, WooCommerce (Wordpress) or other CMS, to the biggest second hand platforms like Vestiaire Collective, The Vintage Bar, Libas, Miinto, eBay, Grailed, Vinted to cite a few of their partners.
Oly stands out as the ultimate tool for resellers aiming to drive their business to the next level. Oly enables the optimization of their operations and facilitates the expansion of their business to a global audience by seamlessly connecting with international marketplaces.
The e-commerce trends expected to thrive in 2024 will be driven by technological advancements and evolving consumer behaviors. Notably, the rise of social commerce and live shopping sessions has transformed into a captivating business model, and mobile shopping preferences have become a complementary shopping channel to consider. The marketplace boom, particularly in secondhand fashion, not only aligns with sustainability goals but also provides resellers with opportunities for success especially thanks to dedicated automation services to facilitate their journey - "Cross Listing'' empowers resellers, offering them a strategic approach to enhance visibility and sales across multiple platforms. While the management of this process may pose challenges, innovative solutions like Oly stand out, streamlining the cross-listing process and connecting fashion retailers with major platforms, ultimately serving as a catalyst for their global expansion.