H&M to launch C2C resale platform in Canada

According to the latest news, Swedish fast fashion group H&M will launch the resale platform H&M in Canada on the 7th of this month.   Rewear , the platform will adopt a C2C trading model, and the goods sold are not limited to H&M's own brand. Canadian users can sell their own second-hand products on the platform, with no restrictions on product styles and types.

In addition to relaxing restrictions on product types, H& M has also made several major changes: it has adopted image retouching for the first time to provide consumers with a better shopping experience, adopted algorithms to provide sellers with pricing suggestions, simplified search procedures, and diversified payment methods.

In the past two years, resale platforms and second-hand platforms have grown rapidly in Europe and the United States. The main reason is the change in consumer concepts (enhancement of environmental awareness and sustainability), which provides huge space for the development of this type of market. In the North American market, the second-hand platforms mainly include offerup, Poshmark, ThredUp, etc. According to data, the number of consumers on this type of platform exceeded 33 million last year, and the market value reached 36 billion US dollars.

At the same time, another trend began to emerge: many online merchants began to enter physical stores, while offline merchants moved towards e-commerce, which made the integrated marketing model popular . H& M's establishment of a resale platform can be regarded as a new breakthrough for itself, and it can also be said to be in line with the trend.

H&M entered the Chinese market later than ZARA, KM and others, but in the first half of the year, H&M was boycotted in China due to the Xinjiang cotton issue. The sales and market value of its offline stores fell rapidly, and the flow of people to its stores in major cities also decreased rapidly. This was a big blow to H& M at the time.

According to the second quarter data of H&M Group, its sales in mainland China fell by 28%, with losses reaching 74 million US dollars. Recently, H&M's affiliated company in Shanghai was also fined for false advertising and misleading consumers. The Chinese market has temporarily withdrawn from the three major markets listed by H&M .

H&M was founded in Sweden in 1947 and has been mainly engaged in clothing, shoes, hats, cosmetics , etc. It is reported that the partners of this service also include British technical service provider Reflaunt.

H&M

Canada

Resale