Deep dive: Virtuous circle – how retail is cashing in on the resale and rental economy

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From Depop to MusicMagpie to Ikea’s Buy Back scheme, the second-hand economy has proliferated over the past decade, but it is only during the last year or two that its business models have really begun to resonate with consumers and retailers alike.

From Depop to MusicMagpie to Ikea’s Buy Back scheme, the second-hand economy has proliferated over the past decade but it is only during the last year or two that its business models have really begun to resonate with consumers and retailers alike.

Coupled with a heightened interest in sustainability throughout the pandemic and a collective tightening of the belt when it comes to available spend, the industry has noted that tapping into the second-hand economy may put them on the front foot.

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