US Resale 2024

Online Resale Platforms Court High-Income Shoppers and Turn to AI Amid Slowing Growth

Report by Sarah Marzano  | UPDATED: Oct 7, 2024
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Executive Summary
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Table of Contents
Executive Summary
Softening demand will impact the trajectory of recommerce
Major online resale platforms are shifting their strategic focus
AI technology has the potential to revolutionize online resale
What can retailers learn from the maturing resale industry?
Sources
Media Gallery
About This Report
Our revised US resale forecast reflects a slowdown for the ecommerce-dominated market, as the cost of selling one-of-a-kind items online comes into focus.
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Ecommerce Tactics
Retail Ecommerce Sales
Retail Sales
US
Table of Contents
Executive Summary
Softening demand will impact the trajectory of recommerce
Major online resale platforms are shifting their strategic focus
AI technology has the potential to revolutionize online resale
What can retailers learn from the maturing resale industry?
Sources
Media Gallery

The ecommerce-dominated resale market is facing a slowdown as platforms grapple with the mounting costs of selling one-of-a-kind items online. Major online resale platforms are responding by adjusting strategies to maximize order values and investing in technology to improve operational efficiencies.

Key Question: How can online resale platforms respond to weakened demand for secondhand goods?

Ecommerce Resale Will Resume Growth in 2024, but at a Slower Pace Than Previously Expected (billions in US ecommerce resale volume and % change in current vs. previous forecast, 2023-2027)
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Key Stat: In 2024, online resale revenues will surpass $80 billion, but this figure is more than $8 billion lower than our previous forecast.

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Table of Contents

  1. Executive Summary
  2. Softening demand will impact the trajectory of recommerce
  3. Major online resale platforms are shifting their strategic focus
  1. AI technology has the potential to revolutionize online resale
  2. What can retailers learn from the maturing resale industry?
  3. Sources
  1. Media Gallery

Charts in This Report

Ecommerce Resale Will Resume Growth in 2024, but at a Slower Pace Than Previously Expected (billions in US ecommerce resale volume and % change in current vs. previous forecast, 2023-2027)Online Resellers Are Grappling With Slowing Active Buyer Growth
Fashion Online Resale Will Grow at an Accelerated Rate and Make Up a Larger Share of Online Resale (billions in US fashion online resale platform sales, % change, and % of total ecommerce resale volume, 2023-2027)Online Fashion Resale Will Increasingly Depend on Increased Spend per Buyer to Drive Growth (% change in US fashion online resale platform buyers vs. fashion online resale platform sales per buyer, 2023-2027)
The RealReal's Shift to Prioritizing More Expensive Merchandise Effectively Boosted Order Values (average order value worldwide on The RealReal, Q1 2022-Q4 2023)Cost Optimization Strategies for 2024 According to US Retail CFOs, Oct 2023 (% of respondents)
4 Way A Technology Will Impact Resale

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First Published on Apr 5, 2024

authors

Sarah Marzano

Contributors

Sky Canaves
Principal Analyst
Wendy Louie-Lam
Senior Forecasting Analyst
Carina Perkins
Senior Analyst