And bulletproof backpacks are unfortunately a thing.
August 20, 2019
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GEN Z GETS THRIFTY
Sustainable fashion has been gaining momentum this year, and thrifting is all the rage among young people with a penchant for vintage willing to pay more for eco-friendly items, especially as climate activists call for a fashion boycott. Depop, part-social network and part-sales platform with 15M users, has become the hot app for young people to sell their items and gain a community in the process. The app even created an entire marketing campaign called #NothingNew around Gen Zers thrifting and upcycling clothing.
The big players are all taking note. Macy's and J.C. Penney recently announced partnerships with resale marketplace thredUp in an effort to attract Gen Z consumers. There’s good reason: ThredUp found the resale market has grown 21X faster than retail and is pegged to hit $51B by 2023, mainly driven by young people.
Resale isn’t the only shakeup to the world of fast fashion. Enter the boom of clothing rental services, a $1 billion market today expected to hit $2.5 billion by 2023. It’s no longer only OG rental companies like Rent the Runway—American Eagle, Urban Outfitters, Banana Republic, and Ann Taylor have all recently jumped on the rental bandwagon for everyday items. Nike launched a subscription service for kids’ sneakers last week, with more expected to come.
In a world where the most photographed generation ever is also hyper aware of the impact of their purchases and has an eye for how to save and make a buck, used and rented is where it’s at.
THIS IS AMERICAN BACK-TO-SCHOOL SHOPPING
As August marks the start of another new school year for millions of students, back-to-school shopping has taken on a whole new level with stores like Office Max including bulletproof backpacks among their offerings. The bulletproof backpacks—some of which featured Disney princesses, as well as bullet-resistant hoodies, seat cushions, and jackets for kids—are selling out across the country as school shootings have continued to rise. Even worse, it’s becoming an increasingly common occurrence that students and teachers are writing their wills in case they’re gunned down in a school shooting.
As legislators remain slow to make change and companies capitalize on our sad American reality with bulletproof supplies, young people continue to demand action. Last week, March For Our Lives filed a legal document to advise the Supreme Court on how gun violence impacts American youth today, including that ¾ of Gen Z say mass shootings are a major source of stress. Thousands of students continue to rally for gun reform across the country, as others step up to wield peace, not guns.
Facebook tries to solve its privacy woes with free lattes.
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