(TYSONS, Va.) — NEWS: Aravenda Global Resale Technology, a U.S.-based consignment software company, speaks to the exponential growth of new resellers as the Great Resignation continues – a mass exodus of employees that began in 2020 during economic uncertainty. “Rather than returning to the workplace, many Americans are starting their own businesses, and one of the lowest cost barriers to entry for starting a new business in resale,” states Carolyn Thompson, CEO of Aravenda Consignment Software.
The resale industry was growing before the pandemic as consumers were becoming more environmentally conscientious. Since the pandemic started, tighter household budgets and supply chain issues led the resale industry to skyrocket, estimating to grow 11 times in the next five years to $77 billion.
Sneaker resale is one of the leading segments of the resale industry. In February 2021, research firm Piper Sandler estimated the resale shoe market was worth $10 billion – a $4 billion increase from 2019, and estimated to generate $30 billion by 2030 according to a study by Cowan Research Equity. Unlike other items, sneakers are being sold 200% or more above the retail cost due to demand of certain styles and sizes.
Furniture resale is another lucrative segment of the resale industry. People are always moving, downsizing, or redesigning, which offers resellers an opportunity to snag up high quality furniture for low cost and flip for a profit.
Becoming a reseller has a low barrier to entry. Many resellers start with items they have sitting around their home, attic or garage: clothing, 80s and 90s memorabilia, furniture, sports cards and more. Many watch social media groups or websites where people are giving away items for free or at low cost. Others hunt thrift shops or clearance aisles at retailers to find highly valuable items they know will resale for a nice profit.
Although many exist, you don’t need to have a brick-and-mortar store to become a reseller. Selling online and shipping items or arranging a pick up of sold items has become quite popular. In fact, to be successful reseller, you will need to have sell online as ecommerce. According to Insider Intelligence forecast, US ecommerce sales will grow 16.1%, reaching $1.06 trillion this year.
About Aravenda Consignment Software:
No one knows resale like Aravenda. As a Shopify Partner, Aravenda leads the market in global resale technology innovation no matter what you are reselling. With the most advanced features and unlimited service, Aravenda was named a 2021 NVTC Tech 100 honoree for extraordinary achievements and excellence in the technology industry. Aravenda shares your passion and wants resellers to sell efficiently and profitably. Aravenda serves clients in over 10 countries on four continents and can have a new store up and running in a matter of days.
Learn more at https://www.aravenda.com/
Related link: https://www.aravenda.com/
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