As shopping secondhand goes increasingly mainstream, consumers of all generations are buying from resale marketplaces — and as they do, patterns in their shopping behaviors are beginning to emerge.
A new report from the peer-to-peer commerce platform Poshmark reveals the most popular brands among its 60 million users, and unsurprisingly, athleticwear giants are among the top picks. According to the report, “2020: The Year of Social Shopping,” Gen Z users — born in 1997 or later — count Adidas as one of their favorite brands, along with teen mall staple Brandy Melville and, on the more luxe end, Gucci. The cohort accounts for around 20% of Poshmark users, the company says, as well as a quarter of the new accounts created in 2019.
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Adidas has ranked behind Nike in several recent surveys of high school- and college-age shoppers, including Piper Jaffray’s semiannual Taking Stock With Teens report, but on Poshmark, the youngest users are flocking to the Three Stripes.
Among millennials — the group that makes up the largest share of the platform’s userbase — Nike reigns supreme alongside Madewell and Anthropologie, two brands that have defied the retail apocalypse by hitting the sweet spot with 20- and 30-something shoppers. For Gen Xers, a cohort that today is about 40 to 55 years old, the most sought-after brands are Patagonia, Tory Burch and Kate Spade, while baby boomers are shopping Coach, Michael Kors and Eileen Fisher.
The findings were based on an analysis of Poshmark’s 2019 transaction data in the U.S. and Canada, as well as a survey of more than 8,500 U.S. and Canadian consumers conducted by Zogby Analytics.
The report also found that people are growing increasingly accustomed to buying directly from other individuals online, with 75% of respondents saying they feel comfortable doing so. This is notable considering the competition from marketplaces like The RealReal and ThredUp, which handle warehousing, logistics, product photography and other aspects of the e-commerce process in order to maintain a more uniform shopping experience across their platforms, without the social aspect of Poshmark.
The peer-to-peer element means many sellers operate their Poshmark storefronts like their own businesses: 22% of U.S. sellers surveyed do so full-time, and 25% consider themselves small business owners.
Overall, sales of secondhand goods are expected to more than double from $24 billion in 2018 to $51 billion by 2023, according to GlobalData PLC research conducted for ThredUp.
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