Swedish Brand Taps Archive to Power Peer-to-Peer Resale Program
- Fjällräven launches peer-to-peer resale marketplace
- Aligns with the brand’s mission to reduce waste and promote circularity in the outdoor and apparel industries
- Increase in product repairs: 8,531 items repaired in 2023 (up from 3,556 in 2021)
- Resale market growth in the U.S.: $43 billion in 2022, projected to reach $73 billion by 2028
- 90% of consumers bought or sold used goods in the last 12 months
- Other retailers with resale programs: Hanna Andersson, Faharty, Urban Outfitters, and New Balance
Fjällräven, the Swedish outdoor clothing brand, has launched a peer-to-peer resale marketplace in line with its mission to reduce waste and promote circularity within the outdoor and apparel industries. The company has seen a significant increase in product repairs, fixing 8,531 items in 2023 compared to 3,556 in 2021. With sustainability at its core since 1960, Fjällräven’s commitment extends beyond minimizing impact and focuses on products serving future generations. The resale market is booming in the U.S., reaching $43 billion in 2022 and projected to hit $73 billion by 2028. Nearly 90% of consumers have bought or sold used goods within the last year, according to eBay’s 2024 Recommerce Report. Other retailers like Hanna Andersson, Faharty, Urban Outfitters, and New Balance have also introduced resale programs.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Fjällräven’s resale marketplace, the growth of the resale industry in general, and other retailers launching similar programs. It includes relevant data from reputable sources (ThredUp and eBay) to support its claims.
Noise Level: 3
Noise Justification: The article provides relevant information about the growth of the resale market and Fjällräven’s commitment to sustainability, but it could benefit from more in-depth analysis or exploration of the consequences of these trends on the industry and society.
Financial Relevance: Yes
Financial Markets Impacted: The resale market growth impacts companies in the outdoor and apparel industries, such as Fjällräven, Hanna Andersson, Faharty, Urban Outfitters, and New Balance.
Financial Rating Justification: The article discusses the financial relevance of the growing resale market in the outdoor and apparel industries, which affects companies like Fjällräven, Hanna Andersson, Faharty, Urban Outfitters, and New Balance. It also mentions the increase in product repairs by Fjällräven and the projected growth of the U.S. secondhand market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
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