Secondhand e-commerce sites see a silver lining

Consumers looking for bargains as they shop from home will contribute to secondhand’s 27% growth rate in 2020, according to a new ThredUp report. The coronavirus pandemic has changed consumer shopping behavior and shifted dollars from brick-and-mortar retailers—many of which are only now starting to open—to online stores, and resale is a beneficiary.
“It’s definitely been a surreal time,” said Poshmark CEO Manish Chandra. “When the pandemic started in a big way in late February and into March, when it was first declared a pandemic, the initial reaction [to Poshmark] was very negative. After people adjusted, we saw a massive increase in engagement in sales and selling.”  Read more…