SHEIN Launches a New Peer-to-Peer Resale Platform Called SHEIN Exchange
References: ca.shein & retailtechinnovationhub
SHEIN has debuted SHEIN Exchange, an online peer-to-peer resale platform designed to aid consumers in the market for pre-owned SHEIN products at a reduced price. The platform allows users to list their garments at whatever cost, and interested buyers can communicate with the seller to coordinate the sale. The brand recognizes that they are a leading voice in the fashion industry and aims to build an equitable future for fashion while reducing textile waste. The pilot version of SHEIN Exchange has launched in the US, with plans for expansion to other markets.
"The goal of SHEIN Exchange is to make resale just as easy and convenient as buying something brand new, while also igniting a cultural movement of circularity within our own community,” expressed Adam Whinston, Global Head of ESG at SHEIN.
Image Credit: SHEIN
"The goal of SHEIN Exchange is to make resale just as easy and convenient as buying something brand new, while also igniting a cultural movement of circularity within our own community,” expressed Adam Whinston, Global Head of ESG at SHEIN.
Image Credit: SHEIN
Trend Themes
1. Online Resale Platforms - The fashion industry can tap into the growing trend of online resale platforms to reduce textile waste while creating value for pre-owned products.
2. Peer-to-peer Commerce - The rise of peer-to-peer commerce facilitated by online platforms like SHEIN Exchange presents a disruptive opportunity for fashion retailers to unlock additional revenue streams and foster circularity in the industry.
3. Sustainable Fashion - Fashion companies can leverage sustainable fashion concepts like circularity to build brand equity while lowering costs and promoting a more environmentally conscious industry.
Industry Implications
1. Fashion - The fashion industry can incorporate online resale platforms to promote circularity and mitigate textile waste.
2. Retail - Retailers can incorporate peer-to-peer commerce features to unlock new revenue streams and build customer engagement.
3. E-commerce - E-commerce platforms can facilitate the growth of online resale models to promote sustainability and reduce waste in the fashion industry.
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