One notable thing about the resale industry is, ironically enough, just how new much of it is. It’s especially true with branded resale, as evidenced by brands as prominent as New Balance and Zara launching e-commerce resale sites in 2024, with more certain to do so in the year ahead.
So let us dust off the pre-loved crystal ball and, with the help of two industry leaders, predict what lies ahead for the next trip around the sun.
New legislation will be a tailwind for resale
Right-to-repair laws that require brands to manufacture items in a way that consumers and repair shops can fix them when they break have passed in eight states as of 2024, including in Oregon and Colorado, and legislation was introduced in 30 total states last year, according to the Public Interest Research Group.
Along with diverting electronic devices from landfills, extending their life also avails them to the resale market, which is why an electronics resale marketplace like Back Market champions the laws, and is advocating for more states to pass laws in the upcoming year.
Keep reading here.—AAN
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