Network City.

Week 9: Everything I learned about fashion resale

Let’s take things back because, let’s be real, I’ve been travelling a bunch and the past two weeks have been a whirlwind.

It was a big week in fashion tech and networking, well, for me at least.

First up, we had PI Live, the fashion tech event focused on how fashion technology can optimise manufacturing processes and meaningfully reduce material waste across an increasingly fragmented value chain, from textile creation and suppliers, through manufacturers and retailers, to the end consumer.

Next up, I travelled across the pond to New York City, where I attended ReCon, the world’s first resale conference. This conference brought together the leading players in resale right now, including FashionPhile, The RealReal, eBay, Business of Fashion, ThredUp, Depop and honestly the impressive list goes on.

I didn’t walk into ReCon as an outsider looking in. I walked in as someone already building in this space, and that changes everything about how you absorb a room like that. Instead of frantically taking notes on concepts, I was stress-testing ideas I’d already been sitting with, validating assumptions I’d already been building on and occasionally having my thinking challenged in ways I didn’t expect.

Here’s what the room confirmed and what pushed me further.

The latest stats of the industry

ThredUp’s 2026 Resale Report puts some serious weight behind what those of us in this space have felt for a while. The global secondhand apparel market is on track to reach $393 billion by 2030.

None of this is surprising if you’ve been paying attention. What is worth noting is how quickly the mainstream is arriving at conclusions we’ve already been building towards. Consumers are value-driven in a way that isn’t going away, resale has shifted from optional to essential and the leading markets making that transition fastest are the UK, the US and China.

The question now is execution.

Don’t brands just wanna make more money

The brand-side conversation around resale is finally maturing, and it was good to hear it framed properly at ReCon. Alex Elliot from Treet said it well: “The more resale is integrated in the buying journey, the more you actually increase conversion and increase customer incentive to buy.”

This is exactly the reframe that brands have been slow to make. Resale isn’t a sustainability badge, it’s a conversion tool, a retention mechanism, and a customer acquisition channel all at once.

Ryan Atkins from Supercycle made the margin case clear. If you can strip out inventory overhead, reduce customer acquisition costs and cut operational spend, the business model starts to look very different. On the circularity mindset, he put it in a way that stuck with me: “Think about the Apple trade-in model. When a consumer knows their product has residual value at the end of its life, they’re more incentivised to buy it in the first place.” It’s not complicated, it just requires brands to think beyond the first transaction and more about retention.

This is the one that I think still isn’t getting enough airtime. 85% of consumers use resale to explore aspirational brands before committing to a full-price purchase. Resale is functioning as a top-of-funnel acquisition channel and the brands not building that into their strategy are leaving a serious amount of money and loyalty on the table.

There’s also only an 18% crossover between full-price shoppers and discount shoppers, meaning resale is largely reaching a completely different customer. It’s not cannibalising existing revenue. It’s opening a new door.

The appetite is there. The infrastructure is coming. The window to build the right on-ramps is now.

The Rental Conversation, This One’s Personal

I’ll be honest, the rental panel is where I leaned in most because this is the space I’m actively building in. And what I’ll say is that a lot of what was discussed confirmed the thesis I’ve already been working from.

Rental is often positioned as the natural next step after thrifting. But according to Sixuan Li, founder of BNTO, it’s Gen X whose buying patterns are shifting most dramatically, which might surprise you. It’s not the generation you’d expect leading this charge, but when you think about it, it makes sense. Gen X grew up without the throwaway culture that followed; they understand the value of a well-made garment, and they’re at a life stage where flexibility and curation matter more than ownership.

But the more interesting shift is this: people don’t want to own things the way they used to. Ownership is losing its cultural grip, particularly with younger consumers who are thinking about flexibility, variety, and value. Platforms like BNTO, Isle of Monday and Pickle, are already proving that rental isn’t just for weddings and galas; people are renting full looks for everyday wear and weekly occasions.

What I found most compelling was the conversation around inventory, specifically from a brand perspective. Inventory is king, and rental might be one of the smartest things a brand can do with it. When a brand offers rental as an additional revenue stream, they never actually lose control of their product. It goes out, it comes back, and it earns along the way. Compare that to a traditional sale, where the product leaves and the relationship ends. With rental, the brand retains the asset, generates recurring income from it, and stays in an ongoing relationship with the customer. The product works harder, for longer, without the brand having to produce more of it. For any brand sitting on strong inventory right now, that’s not just a sustainability argument; it’s a genuinely compelling commercial one.

I have a lot of thoughts on all of this that go beyond what a Substack can hold right now, but if you’re curious about what I’m building, stay close. It’s coming.

I’ve been learning about this space long enough to know the opportunity is real. ReCon just reminded me how many others are starting to see it too. The window is open, but it won’t stay that way forever.

A Final Note

Although this week was a heavy one on the social battery, it was also a friendly reminder that you learn the most when you put yourself in a room full of people who are building in the same space as you. You're slightly uncomfortable, constantly inspired, and in the same room as the people most aligned with your vision. They are quite literally at your fingertips. There is no better place to be, so always take the opportunity when it presents itself, especially when you're in the growing or building phase of your journey. Growing pains, baby.

xx KP