The secondhand market is ready to flourish, with resale alone anticipated to grow many times faster than the wider retail clothing sector in the next five years. In eCommerce, the “Gap Home” debut on Walmart’s website is putting pressure on décor rivals. And, in business-to-business (B2B) payments, enterprise resource planning (ERP) systems can be paired with payments to ease fragmentation. All this, Today in Data.
Data:
400: Minimum number of items included in the Gap Home line available at Walmart.com.
87%: Share of women who have bought or are open to buying secondhand products as of 2020.
79%: Proportion of companies that say incorporating accounts receivable (AR) automation improved their teams’ efficiencies.
52M: Minimum number of people who resold clothing in 2020.
23%: Percentage of AR department staff members who are typically allocated to manage payments.
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