A 2019 consumer survey by First Insight, known for predicting Gen Z's behavior, found that 62 percent of both Gen Z and millennials prefer to buy from sustainable brands. It showed some of them now shop almost exclusively second-hand for apparel and footwear. The reasons given were access to higher-quality products they might not otherwise be able to afford and to minimize their consumption footprint.
It was in the era of President Nixon when commercial import and selling of second-hand garments became an obvious alternative to millions of Bangladeshis who could not afford new outfits. Trading centers of those second-hand garments somehow gained their identity as Nixon Market. Demand for reusable garments, however, waned slowly with the economic advancement of the country and the supply of cheap new garments bearing top global brand names coming through so-called stock lots of export-oriented industries. Some of the remnants still cater to the needs of low-income groups in urban centers.
Now, after almost five decades, Nixon markets are making a dramatic comeback. It's happening in the west utilizing the advantage of up-to-date technologies. The most striking elements of this new phenomenon are: i) it is driven by millennials and Generation Z; and ii) its concerns about the sustainability of the earth. These younger generations are seriously concerned about the impact of climate change and keen to cut emissions in every possible way. This new market of second-hand and unused garments and other consumer items is called the fashion resale market or re-commerce and it is largely based on e-commerce platforms.
at The Daily Star.
