By Arroon Gawalli , Founder, Kreditnotes—an online marketplace that strikes the best deals on brands in exchange for old goods.
The snob appeal in only buying expensive and new items has crossed its expiry date. Try a just-as-good, pre-owned product which can elevate your lifestyle, and minimize your carbon footprint
Not everything trendy and in vogue has to be first-hand. All that actually matters, is your presentation, calibre and upkeep. This is what the current generation is teaching the world right now!
Millennials and Gen Z, who are India’s latest buyers, have unfollowed the old-school shopping models of consuming only first-hand products. Their low-key lifestyle is suave, but sustainable. They ride the wave of a trend while it lasts, selling it as the season ends in exchange for something much cooler. Now, this is what prior generations need to learn them. It is not only an optimum way of living, but also a solution to sustainable living. According to World Bank data, the world generates about 2.01 billion tonnes of municipal solid waste annually, with at least 33 per cent of that not managed in an environmentally sustainable way.
Everything right from our daily news to our social media feeds is about how the globe is plummeting towards global warming, food shortage, deforestation, and so on. An identifiable unifying thread to all these ecological issues is consumerism. Fortunately, the young Indian hipster, millennials and Gen Z specifically, aren’t as propelled by purchasing power as their Baby Boomer or Gen X predecessor. Their fundamentals lie in the idea of buying less, recycling, and opting for second-hand merchandise. By following this new-age retail model, we can maintain the ecological balance by recycling more, dumping less trash, but still enjoy affordable yet fancy lifestyles. That is hitting two birds with one stone.
THRIFTING IS THE NEW COOL
The western world is highly influenced by the thrifting world. According to a study by a packer and moving company, “People around the world are highly delusional about how much they own, versus how much they actually wear”. We don’t even wear 50% of our fancy wardrobe. With a plethora of thrift stores, garage sales, and flea markets, people over there buy some really natty supplies at half the price of buying from a shopping mall.
By reselling their “extras” on eBay and MySpace, the juvenile hobby inspired multiple business ventures to mushroom into shopping sites worldwide. There are a few budding online junctions that have identified the void in the Indian market. These portals can help you list the items you wish to sell—in exchange for shopping credit or reward points for your next purchase. It is possible to buy almost anything that one desires: antiques, memorabilia, apparel, and electronics. You name it!
A leading thrifting label’s report last year said the worldwide thrifting industry is anticipated to double in the next five years, hitting $77 billion.
Consumerism in 2022 cannot afford to be as reckless as it was half a century ago. We have to factor in conscious living, and the life cycle of manufacturing technologies to ensure a sustainable future. We need to do away with the expensive traditional marketing standards and welcome pre-owned products in our homes. We need to discard the thought of disposing of things which could actually have a second inning!
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