The consignment industry is experiencing a Renaissance.
There are new opportunities, better technology, motivated customers, and the countless hours of hard work store owners have put in are about to pay off.
ThredUp stated in its 2023 Resale Report that second-hand fashion is poised to overtake traditional retail by as much as 11 times by 2028.
With all this new momentum, stores will find new ways to embrace more authentic digital strategies, gain access to new consignors, and cultivate relationships with new customers. With all the changes on the horizon for the consignment industry, we made some bold predictions for 2025.
Gen Z is Shopping In-Store
A new study shows that 69% of Gen Z shop at physical stores weekly. This generation, known for its love of online shopping, is actually embracing brick-and-mortar retail more than you might expect. Consignment store owners should prepare for an influx of younger shoppers looking to discover unique, secondhand finds.
Prediction
This will lead many stores to consider adding a new checkout line or rearranging their current setup to offer more checkout options. With Ricochet POS being the only consignment software that can run fully on an iPad, and text receipts now available, stores can create impromptu checkout stations to keep up with the new demand.
Luxury Resale is Still on the Rise
Marketplaces like Poshmark have been steadily growing, and with major brands even starting to push sustainability with buy-back programs, the acceptance of secondhand luxury is continuing to grow. But customers are becoming more reluctant to shop on online marketplaces due to concerns about counterfeit goods. Each year, approximately $2 trillion in counterfeit products are sold to consumers in the U.S.
Prediction
Customers will start looking to their local consignment stores for authentic luxury items they can trust. Ricochet’s new integration with Legit Grails offers in-house authentication for luxury handbags, shoes, and clothing, giving customers peace of mind when shopping for pre-owned designer goods.
Personalized and Inspirational Content
Stores are adopting new content strategies to better connect with their customers. Stores are using email marketing more than ever, writing weekly or monthly newsletters to create more personalized interactions with their customers and consignors.
They’re also shifting away from just showcasing products and leaning more into inspiration. Customers are more likely to use the internet to find new ideas and inspiration (51%) than to research products/brands (42%).
Prediction
Store Owners will create more engaging and personalized social media content, such as video posts featuring employees or owners discussing their style preferences or the latest trends.
Additionally, stores will increasingly incorporate email marketing tools into their overall marketing strategies, particularly leveraging integrations with platforms like MailChimp.
Being Everywhere at Once: Stores Go Omnichannel
73% of customers prefer to engage with brands across multiple channels. More stores are embracing omnichannel solutions in 2025 to keep a consistent relationship with their customers and gain the awareness needed to attract new ones.
Prediction
Stores will dedicate more time to exploring and testing new omnichannel opportunities.
Ricochet understands the consignment industry’s need for more omnichannel solutions, which is why we not only offer our own ecommerce platform, but also why we have integrated with Shopify, and are currently developing an integration with eBay.
Conclusion
The consignment industry is in for an exciting transformation over the next few years. From the influx of Gen Z shoppers to the continued growth of luxury resale, store owners who embrace new trends and technologies will be well-positioned for success. Ricochet is here to support consignment businesses every step of the way as they navigate this evolving landscape.
