Fashion resale app Vestiaire Collective has released its second annual Impact Report, detailing findings of research conducted from October 2022 to January 2023. Over 3,500 app users were surveyed across eight countries including France, UK, USA, Australia, and Hong Kong.
According to the survey, 82 percent of resale purchases successfully prevented a first-hand purchase, with 75 percent of consumers embracing secondhand fashion as “more socially acceptable” today compared to five years ago.
Following the B Corp-certified company’s decision to ban fast fashion labels on the platform in November 2022, 70 percent of users have switched to higher-quality brands, enabling an ‘upscale’ in purchases.
Eighty-five percent of Vestiaire Collective users said they are now willing to buy fewer, but more valuable and longer-lasting items.
As a result, 58 percent of Vestiaire Collective users reported purchasing fewer new fast fashion items because they can find higher quality items for an affordable price on the resale market. Fifty-two percent said they shopped on the platform to reduce their own environmental impact.
Fanny Moizant, Vestiaire Collective co-founder and president, said, “By helping consumers to buy fewer, but better, items of pre-loved clothing, we can push the industry to move towards circular business models that embrace a love for fashion while transitioning to sustainable, environmentally responsible practices.”