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☆ Gen Zers say they're hooked on fast fashion, but regret their Shein hauls when the 'high' wears off
▼ + stars: | 2024-05-03 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

Maddy Lane, a Gen Z TikToker, shared what it's like in a recent video, showing the detritus of her latest haul all over her bed. A survey of 1,000 people from January by the digital analytics platform Quantum Metric found that 64% of Gen Z respondents were buying more than they did last year. Contradictory to Gen Z beliefsCheap clothing hauls do not sit well with the much-discussed Gen Z passion for environmentalism. AdvertisementGaby Mendes, a Zoomer and founder of Talk Twenties, a media and events company for Gen Z, told BI she tries to avoid fast fashion but has her lapses. Gen Z was dubbed the "Depop generation" by Vogue Business, and makes up 90% of the app's user base.

Persons: —, Maddy Lane, Lane, Zers, ThredUp, Gen, TikTok, pang, Melanie Parncutt, Parncutt, Gaby Mendes, Gen Z, JADE GAO, Siena Barry, Taylor, There's Organizations: Service, Business, Bryant University, Otter Public Relations, Vogue Business, Barry Locations: cardigan

☆ Thrifting is more popular than ever. It's also never been worse.
▼ + stars: | 2024-03-25 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +12 min

The explosive growth of the resale market and the rise of fast fashion are partly to blame. It's a high that anyone who shops at thrift stores knows — and one that I've been chasing since high school. lechatnoir/Getty ImagesGen Z made thrifting mainstreamBuying used clothing has never been more popular, largely thanks to Gen Z. Still, even as thrifting has grown in popularity, so have fast fashion brands. "Fifteen years ago you would've seen the majority of your secondhand shoppers were most likely more need-based," she said.

Persons: Thrifting, Gen Z, —, I've, Nicole Craig, Arizona State University FIDM, we're, ThredUp, Z, Gen, Danielle Testa, thrifting, millennials, Abercrombie, Craig, Elena Karpova, Testa, Brittany Dickinson, Oleg Cassini, Prada, Jeffrey Greenberg, there's, Dickinson, we've Organizations: Service, Arizona State University, Goodwill, Salvation Army, Fitch, University of North, Goodwill Industries International, Universal, eBay, Urban Outfitters, Free Locations: University of North Carolina, Greensboro, Hendersonville , North Carolina

☆ Why direct-to-consumer darlings such as Casper, Allbirds and Peloton are now struggling
▼ + stars: | 2024-02-10 | by ( Devan Burris | ) www.cnbc.com time to read: +2 min

A once-bustling group of companies, backed by billions in venture capital funding, saw a record year for IPOs in 2021. Now, three years later, most of those direct-to-consumer, or DTC, companies still struggle with profitability. "One of the problems with a lot of direct-to-consumer companies is they're not profitable and a number of them don't really have a convincing pathway to profitability. With the cohort came a huge wave of venture capital funding, propped up by low interest rates. As the Covid-19 pandemic moved most shopping online, venture capital funds were all-in on digital native direct-to-consumer companies.

Persons: GlobalData Retail's, Neil Saunders, Warby Parker, Casper Organizations: IPOs, CNBC, Wonder Group Locations: ThredUp

☆ Insider Today: A Google loophole exposed
▼ + stars: | 2023-09-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

This post originally appeared in the Insider Today newsletter. In today's big story, we're looking at how a Google loophole brings advertisements for illegal drugs hosted on defaced government websites to the top of search results. Previously, that wasn't an issue since these web pages never appeared in Google searches because website owners restricted Google from indexing them. AdvertisementAdvertisementThe result is people using internal search functions to create webpages advertising drugs on websites viewed as trustworthy by Google. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: —, Jamie Dimon, Tom Brady, Kendall Jenner, Arantza Pena, Insider's Katherine Long, hasn't, Katherine, Paul Sancya, Glenn Kelman, Meta, Dwyane Wade, Victor, Jenny Chang, Rodriguez, ThredUp, Nancy Pelosi, Karlie Kloss, Spike Lee, Nattakorn, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Costco, Tech, Business, Google, Alcohol and Drug Foundation, Conference Board, JPMorgan, NBA, Amazon, Big Tech, Atlantic, ABC, Nike, Accenture Locations: Russia, Ukraine, Washington ,, New York City, San Diego, London, New York

☆ ThredUp says a 4-day week cut its corporate turnover in half — and 3 changes helped workers get ruthless about their time and productivity
▼ + stars: | 2023-09-27 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Studies have shown moving to a four-day work week can boost employee productivity and happiness. ThredUp says trimming meetings and dedicating time for focused work helped its team make the switch. AdvertisementAdvertisementA four-day work week can boost employee well-being while maintaining — and sometimes even increasing — productivity, some recent studies have shown. But making the transition to a four-day work week can be tough. AdvertisementAdvertisementThe consignment company cut 20% of its meetings and set aside Tuesdays as "maker days" for doing focused work without interruption.

Persons: —, ThredUp, wasn't, Natalie Breece, Shopify Organizations: Service, ThredUp, Wall

☆ H&M to sell second-hand clothes at London flagship
▼ + stars: | 2023-09-13 | by ( ) www.cnbc.com time to read: +2 min

People passing a large scale sign for the high street clothes and clothing brand H&M outside their flagship store on the corner of Oxford Street and Regent Street. H&M plans to sell second-hand clothes and accessories at its flagship store in London from Oct. 5, as pressure increases on fast fashion companies to curb their environmental impact by encouraging the reuse and recycling of garments. It will be the second H&M store to offer second-hand clothes, after Barcelona which opened earlier this year. H&M launched a clothing rental service at its Regent Street store in November last year. Zara last week launched its online second-hand service in France, having trialed it in Britain since November last year.

Organizations: Oxford Street, Regent, European Union, M's Locations: London, United Kingdom, Cos, Monki, Barcelona, Sweden, Germany, Europe, United States, Zara, France, Britain

☆ H&M to sell second-hand clothes at London store
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

LONDON, Sept 13 (Reuters) - H&M (HMb.ST) plans to sell second-hand clothes and accessories at its flagship store in London from Oct. 5, as pressure increases on fast fashion companies to curb their environmental impact by encouraging the reuse and recycling of garments. It will be the second H&M store to offer second-hand clothes, after Barcelona which opened earlier this year. H&M also has an online second-hand offering in Sweden and Germany. H&M launched a clothing rental service at its Regent Street store in November last year. Zara (ITX.MC) last week launched its online second-hand service in France, having trialled it in Britain since November last year.

Persons: Helen Reid, Alison Williams Organizations: European Union, M's, Regent, Thomson Locations: London, Cos, Monki, Barcelona, Sweden, Germany, Europe, United States, Zara, ITX.MC, France, Britain

Maternity clothes can be a frustrating expense, but budgeting for them is possible if you plan ahead. It's usually better to wait until you're sure you'll need an item rather than getting everything early. You can buy used maternity clothes and sell or donate items you no longer need later. What kind of Mother's Day sale excludes maternity clothes? Inflation is high, and maternity clothes are typically neither FSA-eligible nor tax deductible.

Persons: —, you'll, Belle, PinkBlush Organizations: Service, Navy Locations: Target

☆ This startup wants to curb fast fashion by helping you rent out your closet
▼ + stars: | 2023-05-31 | by ( Cait Freda | In Caitfreda | ) www.cnbc.com time to read: +7 min

By Rotation, a U.K.-based clothing rental app, hopes to eliminate the need for fast fashion by making peer-to-peer clothing rental mainstream in the United States. Individual users decide if they are willing to ship their items to users in other states. Despite the expected growth, online fashion rental and resale has proven to be a difficult business, especially on Wall Street. As the app grows, the startup is taking steps to ensure renters are trustworthy and lenders' items are protected from damage. "I wanted to wear nice clothes on my holiday and I thought about renting but there was no sort of digital fashion rental player here in the U.K. or even Europe," she said.

Persons: Eshita Kabra, Davies, Uber, we've, Kabra, Randi Wood, Wood, Martha Petrocheilos, Esther Gross, Ester Gross Organizations: Research, European Environment Agency, Marathon Asset Management Locations: U.K, United States, New York City, U.S, London, Los Angeles, Mexico, Rajasthan, India, Europe, Africa, Asia, New York

☆ Gen Z Fast Fashion, Live Shopping, Clothes Addiction Destroying Planet
▼ + stars: | 2023-05-17 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

The Gen Z paradoxGen Z's economic power is growing faster than other generations, according to Bank of America. In the US, fashion is the preferred category for entertainment spending among Gen Z, outranking dining out, video games, and music. A 2021 McKinsey survey found that 42% of American Gen Zers said they didn't even know what makes clothes sustainable. In addition to pushing people to buy more clothes, the buy-now, think-later model of live shopping also encourages people to buy clothes that are worse for the planet. To solve that problem, she founded Viviene New York in 2022, a Gen Z-led marketing agency that helps sustainable brands connect with Gen Z audiences through social media.

☆ ThredUp to list on alternative stock exchange: 'We're here to make a difference,' CEO says
▼ + stars: | 2023-05-09 | by ( Natasha Piñon | ) www.cnbc.com time to read: +4 min

ThredUp , the clothing-consignment company, announced Tuesday that it's dual listing its stock on the Long Term Stock Exchange, or LTSE, a national securities exchange designed to promote sustainable principles and a long-term focus among investors and businesses. Reinhart says he first read about the market a few years ago and started talks to list on the exchange over the past two years. The new stock exchange wants to "reverse the epidemic of short-term thinking," Ries told CNBC. There are more than a dozen stock exchanges in the U.S., but the majority of all trading occurs on the New York Stock Exchange and the Nasdaq Stock Market, making it difficult for alternatives to gain traction. One other company, the communication platform Twilio , did list on LTSE but it delisted in 2022, citing cost concerns.

☆ I made $119,000 in sales on Poshmark last year by listing and modeling designer clothes
▼ + stars: | 2023-05-04 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +5 min

She has earned $352,417 on Poshmark since starting resale as a side hustle in 2018. Wyer, who lives in Virginia, has earned $352,417 on Poshmark since she started selling as a side hustle in 2018; Insider verified her income with documentation. Last year, Wyer began hosting live shows on the app and generated $118,967 in sales for 2022. Wyer has generated $352,417 in sales on Poshmark since she started posting on the platform in 2018. I always price things just a little higher than I would like to get, just to have that room for negotiation, but I don't like to price things too high.

☆ How I transformed my online vintage-clothing side hustle into a bustling brick-and-mortar store in NYC
▼ + stars: | 2023-04-17 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Nichole Sesti is the founder of the New York City vintage-clothing store The Niche Shop. Sesti's vintage store opened amid a boom in the secondhand-clothing industry. The Niche Shop booked nearly $400,000 in sales in its first year, according to documents viewed by Insider. The risk of a brick-and-mortar store was worth itThe Niche Shop is located on New York's Upper East Side. Having someone dedicated to shooting, editing, and engaging on social media ensures we're constantly popping up in people's feeds.

☆ Elon Musk dreams of Twitter's AI power
▼ + stars: | 2023-04-13 | by ( Emilia David | ) www.businessinsider.com time to read: +4 min

Elon Musk's personal AI ambitions. Elon Musk was one of the more prominent names on an open letter calling for a pause in AI development. My teammate Asia Martin points out that Musk's position on AI is contradicted by Twitter's investment in generative AI. Twitter's recent purchase of hardware normally used to develop generative AI products shows the extent of this ambition. Read more on Elon Musk's AI ambitions.

☆ Gen Z isn't letting the economy keep them from living their most luxurious lives. They're just buying stuff secondhand instead.
▼ + stars: | 2023-04-12 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

About a third of Gen Z choose secondhand to afford higher-end brands, according to a ThredUp report. And even increasing economic uncertainty is not deterring their pursuit of the good life — they're just buying secondhand instead. About 30% of Gen Z — those born between 1997 and 2012 — are buying secondhand items to afford higher-end brands, according to an April 5 resale report by ThredUp, an online thrift store and resale platform. Moreover, 64% of the surveyed members of Gen Z look for an item secondhand before buying it new, up four percentage points from 2021, per ThredUp's report. And while Ricci wasn't specifically referencing her habits in relation to buying secondhand items, ThredUp's report states that more than 80% of Gen Z considered the resale value of apparel before making a purchase.

☆ The most-wanted clothing brands at resale are probably hanging in your closet
▼ + stars: | 2023-04-11 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Resale clothing shoppers are bypassing previously-owned luxury brands at discounted prices in favor of scoring secondhand mid-tier brands for less. As many as 75% of consumers have shopped, or are open to shopping, for secondhand clothing – and demand has only grown during the pandemic. Mid-tier brands like Zara, Levi's and Abercrombie & Fitch have emerged as some of the most popular clothing brands among resale shoppers. In this environment, he said secondhand shoppers are hyper-focused on value, especially when buying clothes, and mid-tier brands are sitting in this sweetspot. ThredUp competitor Poshmark said mid-tier brands like Nike, Free People, Zara and J.

☆ Teens drive $67 billion in spending. Here's where they're putting their money, and why it's bad news for some stocks
▼ + stars: | 2023-04-07 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +4 min

The wide-ranging survey saw teenagers reporting their spending this year will rise 2% from the spring of 2022 to $2,419. Gen Z girls are planning to pull back on clothing spending, which could spell trouble for apparel stocks in the months ahead. It's the top choice of places to shop for about 9% of the upper-income teens in the survey, Piper said. According to the survey, 49% of upper-income teens have purchased clothes on secondhand marketplaces like Poshmark, The RealReal and ThredUp , or at local thrift stores. Nike remains entrenched as the top apparel brand among all teens, a position it's held for more than 12 years.

☆ I took ThredUp's Fashion Footprint quiz. My annual shopping habits equaled driving 614 miles in a gas-powered car.
▼ + stars: | 2023-04-06 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

ThredUp's Fashion Footprint calculator tallies the climate impact of the clothes we buy. Turns out, the climate impact of my annual shopping habits is still 65% lower than the average customer, at least according to ThredUp's new Fashion Footprint calculator. Resale captured 9% of the US apparel market in 2022, compared with 3% a decade ago, according to ThredUp's latest annual report. Americans spent $1.4 billion on secondhand clothes last year that they normally would have bought new, a 40% jump over 2021. I plugged that into ThredUp's calculator.

☆ Shoppers say secondhand stores like Goodwill are getting too expensive as Gen Z makes thrifting cool
▼ + stars: | 2023-03-21 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +4 min

TikTokers are complaining about high prices in secondhand stores like Goodwill and Salvation Army. The US thrift market has grown substantially in recent years and thrifting has become a popular pursuit of Gen Z shoppers, who have been credited with championing a more sustainable way to shop. But Gen Z shoppers aren't only buying secondhand items for themselves. That is a dubious delineation when it comes to major secondhand clothing corporations," Jennifer Le Zotte, an assistant professor at the University of North Carolina Wilmington told Vox. 23-year-old Stefani Colvin, who has been thrifting since 2016, told Insider that prices have been gradually on the rise in thrift stores.

☆ H&M launches U.S. resale program
▼ + stars: | 2023-03-14 | by ( Katherine Masters | ) www.reuters.com time to read: +3 min

NEW YORK, March 14 (Reuters) - Fast-fashion retailer H&M (HMb.ST) launched a resale program Tuesday in collaboration with ThredUp, an online consignment platform that has partnered with dozens of brands to run their used clothing sales, H&M told Reuters. H&M will be the largest retailer to work with ThredUp, and the partnership will mark the retailer's first resale marketplace in the United States, according to Abigail Kammerzell, head of sustainability for H&M North America. Roughly 30,000 articles of clothing will initially be available on H&M’s resale site. Some critics say that efforts by H&M and other large retailers to enter the resale market are undercut by the volume of clothing they produce. H&M does not currently plan to slow its clothing launches or reduce the overall number of items it sells, according to Kammerzell.

☆ Here's a look at how work-life balance compares in the US, France, Australia, and the UK
▼ + stars: | 2023-03-12 | by ( Jordan Hart | Sam Tabahriti | ) www.businessinsider.com time to read: +8 min

Insider compared the work-life balance of the US, France, Australia, and the UK. The clip prompted Insider to look into how work-life balance in the US compares to other developed countries like the UK, France, and Australia. In the US, employees worked more than in the UK, France, and Australia at an average of 1,750 hours per year, the report found. UKGetty ImagesIn a 2023 worldwide work-life balance index by Forbes, the UK claimed five spots in the top 25 cities with the best work-life balance. "I'm among those who think it's important to have a work-life balance," Culleron told Insider.

☆ I'm an exec at ThredUp, and our 4-day week is helping employees have an actual work-life balance
▼ + stars: | 2023-03-09 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +7 min

ThredUP, an online clothing-consignment company, adopted a four-day workweek last year. He was intrigued by the four-day workweek and how it might help the company's 1,800 employees. In an employee survey last year of our corporate salaried employees, 93% of respondents agreed that the four-day workweek had improved their productivity. Prioritizing tasks and reducing meetings are keyThere were some growing pains in adopting the four-day workweek. The four-day workweek is helping us do that.

☆ The Fed and a big jobs report could drive the market in the week ahead, as investors watch rates
▼ + stars: | 2023-03-03 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

The seesaw-like tension between interest rates and stock prices should remain in play in the week ahead, as investors focus on comments from Federal Reserve Chairman Jerome Powell and the February employment report. There are few earnings in the week ahead, so economic data will likely be a main driver for stocks, along with the comments from Powell. The futures market is pricing in a high chance for a quarter point, or 25 basis point hike in March. Week ahead calendar Monday Earnings: WW International, ThredUp, Trip.com, Lordstown Motor, Ciena, Grindr 10:00 a.m. Initial claims 10:00 a.m. Fed Vice Chair for Supervision Michael Barr Friday Earnings: Embraer 8:30 a.m. Employment report 2:00 p.m. Federal budget

☆ How entrepreneurs can use Poshmark to earn six figures in side hustle income
▼ + stars: | 2023-03-02 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Poshmark is a resale app that some entrepreneurs turn into six-figure side hustles or businesses. Insider spoke to two sellers who shared how they scaled their Poshmark businesses. It's easier than ever to start your own business or side hustle because all the tools you need exist online. Insider spoke with two Poshmark sellers who turned their side hustles into successful full-time businesses. If you have created a successful side hustle or six-figure business on Poshmark and would like to share your story, please reach out via email to jortakales@insider.com.

☆ Goldman says these overlooked companies will play a key role in a more sustainable economy
▼ + stars: | 2023-02-07 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

Goldman analysts highlighted several service-oriented companies that they view as drivers of the inner loop of the circular economy transition. 'Inner loop' companies Here are the companies Goldman identified, and what Wall Street thinks about them. Impinj has an average target price of $128.86, which means the company stands to gain 4.2% from its close on Monday. Tupperware 's stock price is up 1.8% so far this year, sliding into the green after its shares declined by 73% over the past year. Caterpillar 's stock price has edged up 5% this year, and gained over 25% in the past year.

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