It is estimated that the sales volume of the second-hand market in the United States is expected to exceed US $65 billion in 2021

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As major retailers across the United States try to fill store shelves, many online platforms focusing on second-hand goods trading are preparing to make huge profits from the global supply chain crisis. Products sold on websites such as realreal, a luxury member consignment market, or poshmark, a second-hand clothing mobile app, have been produced and are now stored in people’s closets. This allows them to largely avoid using alternative ports and freight services, and more importantly, they can supply now.

Anthony Marino, President of thredUP, an online high-end second-hand goods store, said: “many retailers are struggling in the supply chain crisis, resulting in scarce inventory and higher prices. In contrast, our products have inventory, can be shipped at any time, and new products are added every hour.”

Consumers are facing severe challenges, forcing them to complete holiday shopping ahead of schedule this year, especially if they plan to shop online. The global supply chain bottleneck has brought new challenges to the e-commerce industry, and the shortage of goods has attracted more and more attention.

According to Adobe, an analysis company that tracks online commerce, the shortage information on Retailer websites has increased by 172% compared with last year. Many companies said that the tight supply will continue until the end of this year, which provides second-hand retailers with more profit opportunities in the case of high consumer demand.

Roxanne Meyer, an analyst at MKM partners, a US investment research institution, wrote in a recent market report: “This is a great opportunity for the second-hand platform. After all, the sale of second-hand goods needs to rely on the existing inventory in the hands of the seller. We believe that with the continuation of the supply chain crisis, poshmark and the second-hand trading industry will be in a favorable position and are expected to win a higher market share in the fourth quarter.”

Mayer also said that since logistics restrictions affect almost every commodity category and retailer in the United States, the sales of new products may be limited.

Adobe expects online spending to reach a record $207 billion this holiday season, and second-hand sellers are counting on sharing the windfall. The survey of second-hand e-commerce website mercari also shows that the scale of second-hand online retail market this year is expected to exceed US $65 billion, a record high in the industry. Three quarters of respondents said they might buy at least one second-hand item this holiday season.

Before the novel coronavirus pneumonia had stimulated consumer demand to a record level, the second-hand goods market had taken off, causing shortages and backlog in the world. Second hand clothing and accessories have been sold online for decades, but in recent years, P2P platforms such as poshmark have made it easier to connect buyers and sellers. This helps turn second-hand sales into a lucrative part of the casual economy. Most young consumers are also attracted to second-hand goods because of their lower prices and less impact on the environment.

According to mercari, retail purchases of second-hand goods in the United States have reached an all-time high, and 63% of the population sold at least one second-hand item last year.

Larger online retailers are also trying to enter the second-hand market. Etsy acquired the UK based online platform drop in July to attract younger and more social media users. Etsy’s share price has risen 48% since the $1.6 billion deal was announced.

Several second-hand retailers have made eye-catching initial public offerings (IPOs) this year, but since then, people’s enthusiasm for their shares has subsided because of concerns that people will return to shopping in person with the relaxation of the ban and the reopening of stores.

For example, poshmark’s share price rose 142% on the first day of trading in January, but its share price has fallen 76% since then. Thrdup, which provides clothing leasing or sales services, also performed worse than originally expected after its listing in March. Its share price jumped 43% on the first day of listing, and then evaporated most of the gains in the first month.

Realreal has faced similar ups and downs since its IPO in 2019, and its share price has fallen 36% this year. Now, analysts estimate that its fourth quarter revenue will increase significantly, reaching US $129 million, a year-on-year increase of 53%.

Realreal and its competitors Etsy and thredUP will release their third quarter results in early November. If these companies give optimistic forecasts for the rest of the year, it may help their share prices rebound.

However, analysts worry that consumers will return to stores as the epidemic subsides. However, a retail sales report recently released in the UK shows that in store sales are still sluggish.

Annie Roberts, a 22-year-old depop seller and shopper from New York, said she might turn to the online market but would not rely on direct retailers. “I tend to choose drop because I don’t have to worry about the shortage of clothes. If I see the clothes I want on my friends, online celebrities or even in different stores, I know I may find sellers on drop or similar platforms,” she said

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