E-commerce trends 2023: 15 stats + aspects shaping online shopping
E-commerce trends in 2023 reflect an always-connected society. See the top 15 trends and stats driving the future of commerce.
People have been reselling items for as long as they’ve been buying them. But the combination of climate change urgency, tightening personal budgets, and advanced e-commerce technology has created the perfect condition for recommerce to thrive.
According to ThredUp’s 2024 Resale Report, branded recommerce is showing no signs of slowing down. The global secondhand apparel market is set to reach $350 billion by 2028, growing 3X faster than the overall apparel market. In the U.S., the secondhand apparel market alone is expected to grow by 11% annually, reaching $73 billion by 2028.
And it’s not just apparel – Statista reports that the broader U.S. recommerce market hit $188 billion in 2023, a huge jump from $140 billion in 2020. By 2028, it’s projected to nearly double, reaching $276 billion, as more people embrace sustainable, wallet-friendly shopping options.
As more and more people seek out sustainable and affordable shopping experiences, more brands are stepping in to deliver.
Recommerce definition
Recommerce, also known as “reverse commerce” or “re-commerce,” is the buying and selling of pre-owned, refurbished, or returned products through both digital and physical channels. As part of the circular economy, recommerce helps extend the lifecycle of products, reduce waste, and encourage reuse. With growing concerns about sustainability, it’s becoming a popular choice for both consumers and businesses looking to make eco-friendly decisions.
For shoppers today, getting a good deal is more important than ever. In fact, nearly three out of four consumers say that when it comes to spending on apparel, value is what drives their decisions. And it’s no surprise—59% of people admit they’ll skip buying something entirely if they can’t find it at a discount. As budgets tighten, more shoppers are turning to recommerce for quality products at lower prices, and it’s not just about saving money—it’s about making smart, sustainable choices that benefit their wallets and the planet.
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What is recommerce? A look at the secondhand rebrand
Recommerce is the business of buying and selling used or overstocked products through a digital storefront. Recommerce, however, isn’t just about reselling used goods—it’s about reshaping the way we think about shopping altogether.
Sites like eBay and Craigslist have enabled people to shop secondhand online since 1995, and newer marketplaces like ThredUp and The RealReal (for fashion) and Decluttr (for electronics) started popping up less than two decades later.
But what about overstocked products? Although they’re technically not used, selling excess stock through recommerce channels taps into the same philosophy: reducing waste and making the most of existing resources.
At its core, recommerce extends the lifecycle of products, helping items that might otherwise be discarded find new homes through secondhand sales, refurbishments, or returns. Think of it as a smarter, more sustainable way of keeping perfectly good products in circulation.
From dedicated platforms selling pre-owned fashion and electronics to trade-in programs where consumers can exchange used items for credit, recommerce offers many different ways to participate in the circular economy. For some, it’s about finding high-quality items at a lower price, while for others, it’s a way to shop with a clear conscience, knowing they’re making environmentally responsible choices.
Recommerce. Thrifting. Secondhand shopping. A resale by any name saves me money.
These new experiences helped shift consumer perceptions about resale. “Used” no longer means “low-value or undesirable.” You can shop with some level of confidence that the products will be of a certain quality. And the shops aren’t just boasting discounted items – they’re touting environmental impact and a superior shopping experience, too.
Between the cost-savings and the sustainability benefits, secondhand shopping has found new life. Today, 65% of all shoppers use some resale or recommerce service.
While the early adopters of the recommerce movement were companies re-selling branded products (ThredUp, Poshmark, etc.), it’s no longer just for third-party retailers – top brands are getting in on the action, too. As future generations focus on sustainability as a selling point, retailers have felt the effects of waning market demand for new products.
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Types of recommerce
Recommerce comes in different forms, each offering unique ways for consumers and businesses to give products a second life. Here’s a closer look at some of the most common types:
Secondhand marketplaces
Secondhand marketplaces have been around for decades, allowing people to buy and sell pre-owned goods directly to each other. Platforms like eBay, which has been a pioneer since the mid-90s, and Poshmark, which focuses on fashion, provide a way for consumers to find everything from vintage clothing to out-of-production electronics. For many, these marketplaces are a go-to for discovering unique, affordable items that would otherwise be out of reach.
Trade-in programs
Trade-in programs have become a popular way for consumers to exchange used items for credit or new purchases. Brands like Apple have embraced this model, allowing customers to trade in old devices in exchange for discounts on new products. It’s a win-win: consumers get value for their old items, and brands encourage loyalty while promoting a more sustainable approach to consumption.
Refurbished goods
Refurbished goods sit somewhere between new and used. Programs like Amazon Renewed offer products that have been returned, repaired, and tested to meet specific quality standards. Refurbished items provide a balance between affordability and reliability, giving consumers the opportunity to purchase products that feel almost new, at a fraction of the original price. This option is especially appealing for tech and electronics, where the cost savings can be significant without compromising on quality.
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Benefits of recommerce
The growth of recommerce isn’t just a passing trend – it’s a win for everyone involved. From reducing environmental impact to unlocking new revenue streams, the benefits are clear.
Environmental impact and sustainability
One of the most significant advantages of recommerce is its contribution to sustainability. By extending the lifecycle of products, recommerce helps reduce the demand for new manufacturing, which in turn cuts down on the resources and energy required to produce brand-new items. Every secondhand purchase is one less item ending up in a landfill and one more step toward creating a circular economy, where products are reused, refurbished, and repurposed rather than thrown away.
Cost savings for consumers
Recommerce also offers a financial advantage, making high-quality products more accessible to a broader range of people. Whether it’s finding a designer handbag at a fraction of the original price or snagging a gently used smartphone for far less than a new model, recommerce allows consumers to stretch their budgets further. With many people prioritizing affordability, especially in times of economic uncertainty, recommerce provides a smart alternative to buying new – without compromising on value.
New revenue streams for businesses
For brands, recommerce opens up new opportunities to generate revenue and build stronger relationships with customers. By offering their own recommerce programs, companies can tap into the growing demand for sustainable shopping while giving customers an affordable option to engage with their brand. It’s not just about profits – recommerce programs foster loyalty, as consumers feel more connected to brands that share their values of sustainability and waste reduction. Plus, recommerce provides a way for businesses to offload excess or returned stock, turning potential losses into new revenue streams.
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Sell, sell again: How brands benefit from recommerce
It’s not just shoppers who cash in on the benefits of the resale market. While brands used to be skeptical about offering used items on their sites (Wouldn’t it just cannibalize their market? Why would someone buy new if they could buy used for less?), their fears have proven unfounded.
According to Andy Ruben, CEO of the resale solution Trove, the data shows that branded resale programs drive incredible incremental revenue at great margins.
But that’s not all companies stand to gain. In-house recommerce program benefits can also:
- Build loyalty with existing customers
- Boost your brand’s reputation for sustainable practices
- Expand your reach to new customers
- Provide a second chance to sell overstocked items
That’s all while keeping unsold and used products out of landfills.
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Ready to resell? Here are some things to consider
Of course, creating a successful recommerce experience isn’t as simple as adding a page to your e-commerce site. While you want the experience to be on par with your overall CX, there are some special considerations.
Here are some questions to get you started:-
Why will customers re-shop your brand?
This boils down to understanding your customers and the value you offer. What about your brand will entice recommerce shoppers to come to you?
Environmentally conscious brands like Patagonia and REI have long attracted sustainably-minded shoppers. So, their recommerce programs feel like a natural extension of their brand promises. Designer and luxury brands may attract more clients with the promise of discounts than sustainability.
Take an honest look at your brand and identify the key value your recommerce experience will provide.
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How will you evaluate – and demonstrate – quality?
What one person considers “gently used” another may see as “worn the F out,” so you’ll need to establish standards for quality control. Then, you’ll need to determine how you’ll communicate those standards to your shoppers. For example, Patagonia’s recommerce sites explains their product condition rankings right on the page:
This goes beyond copy, though. How you photograph and display used items on your site needs to be different from how you would with new items. When people shop used, they want to see the actual item they’re shopping for – not just a model. Photos should show any noticeable flaws or defects clearly and upfront.
You’ll also need to decide what to do with “unsellable” items you receive. Will they be recycled? Donated? Let customers know their items won’t just end up in another landfill.
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In-house, or third-party recommerce?
Finally, when it comes to logistics, do you have the bandwidth to manage operations in-house, or does it make sense to partner with a third party? This may come down to the how much you expect to resell. There are advantages to both.
Keeping things in-house gives you ultimate control over the whole experience – from pricing to customer communications. But, working with third-party partners means you don’t have to worry about every last detail. Sites like ThredUp will help you create branded storefronts with all their functionality. So you can lean on their expertise, while still creating a unique experience for your customers.
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Recommerce: success that sustains
Recommerce has become more popular as more consumers are driven to shop sustainably. And as more and more brands realize that reselling can be profitable and brand-boosting, expect to see more first-party recommerce experiences cropping up in years to come.
Does that mean the end of third-party sites like ThredUp and The RealReal? Absolutely not. Those sites will continue to thrive, and offer added benefits to brands and consumers alike.
When it comes to more conscious, sustainable shopping, there’s room for everyone at the table.
