Can resale valuation stitch a sustainable and profitable future for fashion?

In the dynamic realm of the fashion industry, the power of resale valuation is emerging as a transformative force, not only in the present but also as a harbinger of significant change for the future. Imagine a world where the value of every sold item is not just a historical footnote but a dynamic and integral part of the fashion ecosystem.

Riding the Wave of Fashion's Fast-Growing Boom

Resale valuation is reshaping the fashion industry, transforming garments from historical footnotes to dynamic forces shaping the future. With the resale market projected to hit $64 billion by 2024, the stakes are high. Yet, the current manual and time-consuming resale operations, coupled with the volatile pricing and budgeting processes, pose challenges for companies eyeing a circular business model.

21% is online resale is expected to grow each year on average over the next 5 years.

30% of Gen Z choose secondhand to afford higher-end brands.

63% of consumers increased their spend in resale as a response to inflation during 2023.

Fashion's hidden treasure

Reshaping the fashion landscape demands an automated valuation system, ensuring meticulous tracking for every garment's journey, playing a crucial role in assessing overall lifecycle and sustainability. Imagine an era where half of all fashion acquisitions are pre-owned scalability and accuracy is essential to keep pace with the rapidly growing market demands.

Navigating the complexities of resale valuation poses challenges, demanding innovative solutions. For companies, gaining insights into the market value of their products is transformative. Armed with actual data, businesses can tailor manufacturing investments, strategize sustainable loops for consumers, and build profitable models based on the evolving resale market.

It extends beyond mere clothing; it's about shaping a future where insight into the dynamics of the resale market becomes a driving force for well-informed, sustainable, and profitable choices

What benefits would understanding resale worth provide?

01 Strategic Decision-Making

The resale value information is applicable in the design phase, production planning, resale strategies, and compliance with regulations.

02 Optimized Pricing

It is crucial for optimized pricing, maximizing profits, and staying competitive with dynamic market adjustments.

03 Accurate Forecasting

Knowing resale value improves forecasting accuracy for demand, inventory, trends, and revenue projections in business planning.

04 Consumer Insights

Resale value insights unveil consumer preferences, aiding businesses in understanding product popularity, brand loyalty, trends, and price sensitivity.

05 Competitive Edge

It gives a competitive edge through strategic pricing, product differentiation, adaptive strategies, and positive brand perception.

Automation for Next Wave

In the traditional resale fashion process, valuating items is labor-intensive, relying on manual input and subjective assessments. This not only demands well-educated personnel but also introduces the potential for human biases and errors, adding complexity and cost.

Automated valuation technologies provide a solution by expediting the assessment process. This enhances accuracy and reliability, mitigating risks linked to subjective judgments. With such automation in place, companies can efficiently navigate the resale landscape, benefitting from increased cost efficiency, streamlined forecasting, and a reduction in the uncertainties tied to subjective human judgments in this dynamic market.

Say farewell to intuition. Welcome the precision.

Swap instincts for data precision. Bencha lights your resale journey. Consider us your resale co-pilot, guiding you toward success with a smooth ride guaranteed. Buckle up, the next issue of Fashion Forward is in the making!