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South Korean tech giant Naver announced plans to buy recommerce marketplace Poshmark for $1.2 billion as it seeks to establish a presence in the US. Naver, which also owns Line and Wattpad, views the deal as an opportunity to expand its ecommerce presence and diversify its revenues. Global health and hygiene brand Essity bought D2C intimates brand Knix at a $400 million valuation.

There are brand-operated resale platforms, online consignment websites like thredup, and peer-to-peer marketplaces like Poshmark. GoodwillFinds is closer to thredup in that both take possession of and ship inventory, but it鈥檚 unique in that Goodwill keeps all of the proceeds from donations, and these still take place in person.

The ecommerce giant will generate $277.91 billion in US marketplace sales this year, representing 72.4% of total retail marketplace sales. eBay brings in 9.2% of total marketplace sales, with Walmart Inc. at 2.2%, Etsy at 2.0%, and Poshmark at 0.5%. But there鈥檚 something for everyone: Retailers don鈥檛 need to reach Amazon鈥檚 level of success to consider launching a marketplace.

Resale is the process of selling pre-owned products, including both physical sales at consignment or thrift stores and ecommerce sales on marketplaces such as Depop or Poshmark. Listen to the full episode. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.

Secondhand fashion sales are already taking place on third-party platforms such as Poshmark, thredUP, and The RealReal, so it makes sense for brands to stake a claim. Through this, they can also strengthen customer relationships and gain valuable behavioral data. But it鈥檚 getting harder to stand out in an increasingly crowded space.

More like this:. 3 technologies that take in-store retail media to the next level. 3 ways Poshmark uses AI to grow its business. 3 ways beauty brands like Ulta Beauty and Sephora are using technology like AI and AR to engage with consumers. Exclusive鈥擱etailers rank immersive experiences near the top of their investment priorities.

. ($8.57 billion), Etsy ($7.87 billion), and Poshmark ($1.91 billion). Use this chart:. Illustrate the growth path of US retail marketplace ecommerce sales. Budget ad spend on digital marketplaces. More like this:. Retail media ambitions fuel marketplace expansion. TikTok looks for partners to help with logistics, seller expansion. How ecommerce powers Amazon鈥檚 success in 5 charts.

The secondhand apparel market will contribute to that growth in a major way, thanks in part to online platforms like thredUP and Poshmark. Resale鈥檚 ecommerce expansion will continue this year as companies like Shein and Goodwill invest in online marketplaces.

Fashion resale is already booming on third-party platforms like Poshmark, thredUP, and Depop, and brands like lululemon and Levi鈥檚 are expanding their in-house recommerce operations to gain a share of this fast-growing market. Repair services can help increase customer loyalty and engagement.

It鈥檚 increasingly important for retailers to own their own resale market, which brands are doing by teaming up with resale companies like thredUP, Poshmark, and eBay. And while The RealReal reported a dip in high-priced designer handbag resale value, lower-priced handbags are doing well, indicating resale consumers are trading down but not turning away. Retailpocalypse now? Not quite.

The number of US buyers on fashion resale sites like Depop and Poshmark will rise to nearly 40 million in 2023, per our forecast鈥攖hanks in large part to Gen Z customers. Many seek out vintage or second-hand clothing and accessories because they align with their sustainability values while also delivering deals, including on more expensive luxury goods.

While livestream commerce hasn鈥檛 gone mainstream in the US yet, companies from Amazon to Poshmark are experimenting with the format. Brands that want to give livestream commerce a try should consider starting on TikTok. Like YouTube, TikTok influencers have dedicated audiences that are more likely to buy from them.

Ecommerce resale will also grow this year, driven by peer-to-peer marketplaces like Depop, OfferUp, and Poshmark, which Gen Z consumers use at much higher rates than the average. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.

How marketers can prepare for generative AI now: Upskill, personalize, and localize. 3 ways Poshmark uses AI to grow its business. 5 takeaways on generative AI, data, and personalization from Advertising Week New York 2023. For marketing at scale, generative AI鈥檚 use hinges on trust and the human touch. Note: Respondents were asked "Which of these technologies are you using?"

So instead of consumers going to Poshmark to buy that Coach bag, they were doing it through Coach's resale program. The last I heard, these programs weren't popping off as the giant resale marketplaces that these retailers had hoped they would be. Sky Canaves:.

Younger generations have redefined consumption from economic, social, and environmental standpoints with the help of marketplaces like Thredup and Poshmark.

Coresight CEO, Deborah Weinswig, said that the previous number, 32, failed to take into account the rapid expansion of livestream commerce on Poshmark and TikTok. But Evelyn forcing the live-streaming shopping issue, what's the point? Evelyn Mitchell-Wolf:. It really does seem like retailers and platforms are trying to fit a square peg into a round hole.