Thrifty like a Rockstar OR The Resale market: what consumers want.

Before we do a post introducing everyone to swapzaar *, and why we think "eCommerce is great,

but Re-Commerce is even better" here is a post that talks about why this business trend is big and sustainable, and it's from the business that inspired us- threadflip.

A recent study conducted by Global Market Insite (GMI) shows that shopping for Vintage/ resale/pre-owned/pre-loved (no one calls them second-hand anymore, honey) items is growing in popularity across the board (men, women, young and old alike) , a part of this growth could be attributed to the media attention that is being showered on Celebs who embrace the "un-extraordinary life" through Vintage fashion and Thrifting, like regular young fashion lovers.

And while eBay is the most popular place to buys second-hand goods, garage sales and car-boot sales are popular across age groups too.
The cash-strapped young folks between 18-24 prefer to shop online for resale/second hand items mostly for the cost, convenience and variety factors.
Second had goods can be surprisingly trendy, especially now that 70s/80s/90s looks are back.
Older folks do second-hand shopping too, but the reasons they state are different, they are more likely to buy re-sale stuff if they can support a charitable cause.

Younger people pick up more clothes and fashion items, while the older folks prefer to pick up Books or Furniture etc. Women are more likely to shop for Vintage clothes, Books and jewelry while men tend to pick up DVDs, Tools, Books and so on.
Women state that they like to do it for the bargain hunting thrill, but men are a little slower to adopt second hand shopping for reasons best known to them!

Some reports state that UK consumers have over £30bn worth of clothes in their wardrobes, of
which 30 per cent haven’t been used for a year, and it is likely to be a similar figure across most
developed and developing nations, so there definitely is a lot of stuff to be sold and bought!

Overall it looks like the second hand goods market is likely to continue growing, especially since shopping has become the world's favorite pass time! The mixed motivations of finding a bargain and/or supporting a cause (a charity or fashion with a conscience) seems to be resonating with consumers.

This fantastic info-graphic reveals a lot about the preferences of second-hand goods shoppers.
(click on image to see the larger version)

* Swapzaar, of course, is our new Indian online fashion re-commerce store, and we are excited to be launching it in June this year!! We'll keep you posted on how things go...
Btw, if you are an Indian fashionista and you have amazing fashion items idling in your closet, feel free to list them on swapzaar!

Some research reports that are available for download (not the one by GMI) are linked below:

http://www.wrap.org.uk/content/study-consumer-second-hand-shopping-identify-re-use-behaviour-0

http://dominique-roux.e-monsite.com/medias/files/Roux-and-Guiot-RAM-English-edition-2008-23-4.pdf

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2135785



NOTE- This post also appeared earlier on a sister blog:

Exciting Blog Post Contest! Something Borrowed, Something New...

Hey people, It's been so long but it feels like home :-)

As we may have mentioned earlier, we have been really busy with developing our platform http://swapzaar.com/ and we are happy to say we are sort of ready to share it with our first set of potential customers (all strangers)  for real life feedback- and we kid you not, it's scary as hell!
We had our first focus group session  last Saturday. Humble beginnings, but the feedback
was positive (we also got lots of ideas for product features and improvements), it was fun.

Swapzaar is all about the new-age concepts like "Vintage Fashion", "Indie and DIY Fashion",  "Fashion resale" and "Thrifting" (online of course) which have become huge trends even with Celebs and Bonafide fashion Icons. Don't believe us? Check out this article  and this one here.

So some of the things Swapzaar could be used for include:
>> Buy/Sell fashion resale items
>> Buy/Sell Vintage fashion
>> Buy/Sell DIY fashion items ( Hand painted silk scarves or slogan tees etc.)
>> Buy/Sell one of a kind craft items (Crochet blankets, Stoles, hand appliquéd quilts)
>>Trade stuff you bought from some exotic far off Holiday Destinations

But more on that later, we will be doing a wider launch to our online audience soon and we hope you guys will like our business and help us with fabulous ideas to take it to the next level.
Customer feedback is the Voice of God!

Meanwhile we want to reward your patience and for that here's a interesting contest:
It's simple really (really?!);  you have to write a well-informed, witty and original blog-post on one of the following topics:

1) Vintage Fashion: Will the trend ever catch on in India?

2) Thrifting: Fun or gross?

3) DIY (Do it Yourself Crafts) : Can it ever be a serious money-making business?


Send us links to you entries either in the comments section below or on our facebook page (we are posting this contest there as well) on or before 15th April and you could win an exciting gifts from Mango, Zara or Accessorize.

Some rules to keep in mind:

• Not to sound pushy, but you have to like us on FB,  follow our Blog and Twitter feed to be eligible.
  (we are a startup and we need your support and love)
• We are not biased whether you are for or against any topic as long as your post is great.
• Your post should be well written, while you can link or quote stats from elsewhere the opinions expressed there have to be original and intelligent!
• The last date for entry is 15th April 2014 ( contest closes midnight of 15th IST)
• Contest open to Indian Nationals only.
• Judges decision is final.

Hope you enjoy this contest, may the best Woman (or Man) win!

Season's Greetings!