In-store traffic dropped 28.3% compared to pre-pandemic levels and e-commerce sales were down.
If you’ve watched the The True Cost on Netflix, you know how emotional the concept of consumerism can be. Whether consumers are enjoying a less materialistic mindset, or we’re just not going out as much, it appears that our holiday purchasing habits are moving in the right direction.
what’s beyond black friday?
The grass is looking even greener. Etsy reports that in general, searches for eco-friendly, sustainable or biodegradable gifts are up 48%.
second hand will shine
Over 33 million consumers bought second hand apparel for the first time in 2020. 76% of those consumers plan on increasing their second hand spend in the next five years. Furthermore, 50% of shoppers under the age of 40 say that they will be making purchases from second hand channels this holiday season.
Bigger brands like Lululemon and Patagonia were smart to launch their own resale site sections to capitalize on this.
Second hand retailer, ThredUp, has also integrated quantified positive impacts into their digital experience by adding “sustainability stats” to women’s product pages.
They are also one of the first to communicate the key statistics that buying used instead of new reduces the item’s carbon footprint by 82% serving as a first-educator among industry players.
Whether you’re a consumer, brand or retailer, I think it’s safe to say these are all trends to be merry about as we approach this year’s holiday season.