Aravenda announced that resale and online consignment is outpacing traditional retail at an 11x growth rate. Resale doesn’t always mean buying used. Carolyn Thompson, CEO of Aravenda Consignment Software states, “Our clients are selling all kinds of new, unused items in their resale shops internationally. Items that are in high demand this holiday season include high-end luxury goods, sporting goods, collectibles, sneakers and streetwear, many of which are NWT (new with tags) or NIB (new in box).”
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With new goods inventory in short supply, many luxury department stores are installing false walls or new displays to minimize footprint to compensate for fewer goods. This lack of supply is pushing shoppers to look at alternative gift buying strategies, which is great news for the hundreds of thousands of resellers out there.
While the inventory on Amazon and other websites known for selling new items is dwindling, small businesses that are tech savvy have stocked their websites with NWT and NIB items that are quite suitable for gift giving. Many of these are one-of-a-kind items, so exchanges and returns can be done with store credit in many cases if the gift recipient is looking to return post-holiday.
“In addition, shopping for NWT and NIB items supports small businesses nationally. With Small Business Saturday November 27th, it’s a great time to shop locally and sustainably by patronizing consignment and resale stores to find unique gifts,” states Thompson, Aravenda CEO.
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