LONDON – The resale and rental offering of the UK’s clothing and accessories sector contributed around £1.2 billion to the country’s ‘recommerce economy’ in the last 12 months, 17% of the overall total, according to a new report.
The study, from Barclaycard Payments and economic impact analysts Development Economics, also found that 82% of the 400 retailers saw a revenue boost from recommerce activities, which is defined as “buying, selling or renting previously owned products”.
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