The relationship between fashion and technology has always been a curious one. Early hesitations from high-end fashion brands about embracing online storefronts, the influential role of social media, and the rush to hop onto trending bandwagons like NFTs and the metaverse highlight the dynamics of their interaction. Yet, technology has also paved the way for market expansions, ushering in the era of direct-to-consumer (D2C) models and influencer-driven retail.

A rapidly evolving landscape is the secondary market. Changing consumer behaviors challenge traditional ownership ideals. Technology is swiftly introducing new authentication methods, from innovative material designs to more advanced techniques. Legacy platforms such as eBay are vying for dominance in this secondary market alongside newer disruptors like TheRealReal.

Brands grapple with their place in this secondary market. Some, like Patagonia, Levis, and DOEN, are reclaiming, authenticating, and reselling products. Others destroy surplus inventory to artificially create scarcity and elevate value. Strategies are emerging that leverage the secondary market’s appeal to boost primary sales, as seen with Nike and Supreme. Legal battles ensue over intellectual property rights, such as the StockX vs. Nike case. Innovative startups, like One of None, are reimagining ownership concepts, while established ventures, like Rent-The-Runway, question the notion of ownership altogether. Not to mention, social media platforms are enabling individuals to bypass traditional avenues, building personal followings to directly sell secondary products.