The market for resale or used merchandise is growing exponentially. According to GlobalData PLC, the 2018 sales for used merchandise was $21 billion dollars and sales are projected to reach $51 billion in about three years. Used clothing sales will account for a significant share of the growth in the sales of used merchandise.
In at least 200 words, discuss how technological, economic, competitive, and sociocultural forces have contributed to the growth of the sales of used clothing. Describe the role that online thrift shops have played in the growth of the market for used clothing. Macy’s and Neiman Marcus are getting into the market for used clothing. Do you think that is a smart move for Macy’s and Neiman Marcus? Please use the APA format to cite at least four references. One of your four references should be the textbook for this course.