eBay released its 2024 Recommerce Report this week, shedding light on sales in the resale market. In a nutshell, the e-commerce platforms says that “sweeping macroeconomic, climate, and sociopolitical challenges” are having a significant impact on consumers’ purchasing behavior and driving significant sales in the secondary market – or in the “recommerce” space, which eBay defines as “the buying and selling of pre-loved items.”
At a high level, eBay found from its own survey of 12,515 sellers – and 5,815 buyers – in the U.S., U.K., Canada, Germany, France, Italy, Australia, and Japan between March 18 – April 9, and a Censuswide survey of 16,052 General Consumers (aged 18+) in the same countries between March 6 – 11 …
> 86% of consumers surveyed say they have bought or sold pre-owned products in the last 12 months.
> Over 70% of consumers surveyed globally plan to spend on pre-owned goods this year.
> 49% survey respondents reported buying pre-owned goods because the same items are unavailable in new condition – a 9% increase YOY.
> Millennials show the highest frequency of purchasing pre-owned goods, with 9% buying weekly and 24% monthly. Gen Z also demonstrates significant monthly engagement, with 21% shopping for pre-loved items once a month.
> Consumers aged 25–34 are most likely to have bought pre-owned goods in the last 12 months (71%).
Based on its own internal metrics, eBay stated that …
> Pre-owned and refurbished goods currently make up 40% of its gross merchandise volume.
> On eBay globally, comparing 2022 to 2023, the number of listings for pre-owned bags and pre-owned shirts grew by double digits.
> On eBay globally, the number of sold clothing, shoes, and accessories with “thrifted” in the description increased by over 400% in March 2024 vs. March 2023.
Forbes put it well this week when it stated that Jaguar “unleashed a firestorm” when it introduced the new vision for its brand ahead of its unveiling of its new EV concept car at Miami Art Week on Monday. Putting the design of its Type 00 car aside, the Tata Motors-owned company wiped the slate pretty clean when it comes to its word mark, logo, and other critical elements of its brand.
In place of its old Jaguar wordmark (which took the form of a modified version of the Optima font) is a rounded, sans-serif typeface that consists of a mix of upper and lowercase letters. The company also introduced a J-centric logo and a streamlined version of its leaping cat in furtherance of its rebrand, which the company says is its take on “exuberant modernism.”
Calling the revamp “the biggest change in Jaguar’s history – a complete reinvention for the brand,” a company spokesperson states that “Jaguar is undergoing a complete renaissance from 2025 to emerge as a luxury brand.”
> While many very well may have viewed Jaguar as a luxury brand prior to this new branding endeavor, the automaker seems to be looking to move more upmarket, which will inevitably be reflected via price increases beginning in 2025. Wired reported this week, “We do know that you’ll need at least £100,000 ($127,000) to buy one. Jaguar’s current average transaction price is around £55,000, and this is nowhere near the luxury price point the brand wants to reposition to.”
Reflecting on the revamp and the new concept car, Jaguar’s managing director, Rawdon Glover, said, “We have forged a fearlessly creative new character for Jaguar that is true to the DNA of the brand but future-facing, relevant, and one that really stands out.” And the revamp has certainly garnered attention – albeit most of the responses from branding professionals have been scathing. For example …
Odin Christophe Rolland, Strategy Director at BrandingAge, said: The critique of Jaguar rebranding is not about its radical nature—brand identities do evolve, and sometimes that’s necessary. The issue lies in what could be described as a “symbolic purge,” where the brand is seemingly annihilated … The result? A rather unremarkable visual identity, reminiscent of the ‘blanding’ phenomenon.”
Meanwhile, Base Design Creative Director and Founding Partner, Thierry Brunfaut stated: “Blanding is everywhere, and Jaguar just fell victim to it. This rebrand strips the brand of its soul, erasing its rich history and cultural essence. The emotional connection we had with Jaguar? Gone – replaced with a lifeless void. The new logo, monogram, and campaign? They could just as easily belong to a fast-fashion chain or a candy store. This isn’t radical; it’s radically stupid.”
One thing that is far less polarizing: The fact that the Jaguar brand was in need a revamp. According to auto site Autopian, “The old logo was definitely in need of an update; the typography felt stale and dated, and the jaguar itself – the ‘leaper,’ was a bit too complex for an effective logo.” From a sales perspective, Wired asserted that the company “desperately needed a reboot: Sales of its existing lackluster range have plummeted by two-thirds in five years.”
And it is also worth noting that not all parties are down on the new branding. Car and Driver, for one, is relatively upbeat about the whole thing, writing, “The typeface looks crisp and modern.”
Not all rebrands work out. Just as Gap, but it is too soon to tell with this one. So, stay tuned.
Since his election last month, there has been no shortage of uncertainty about what Donald Trump will do on the tariffs front. On the campaign trail (and after), he spoke to his intention to impose additional tariffs on China, Mexico, and Canada, but has not yet indicated specifics, hence, the sweeping uncertainty. For fashion and other industries that rely heavily on imported goods, the emphasis on China is the key cause for concern. Trump has pledged to impose a 10-20% baseline tariff on all foreign-made products and tariffs of 60% or more on Chinese-origin imports.
Some of these tariffs are expected to go into effect as early as January 20, 2025.
But the impact is likely to extend beyond tariffs. As Reed Smith stated in a note this week, “In addition to tariffs, the Republican party platform calls for revoking China’s Normal Trade Relations (NTR) status, also known as Most Favored Nation status. Trump could suspend China’s NTR status through executive action, which would trigger import duties on Chinese-origin products that are two to 10 times higher than those on imports from other countries. Currently, only imports from Belarus, Cuba, North Korea, and Russia are subject to these higher duties.”
> In total, the National Retail Federation says that tariffs could increase apparel prices by 12.5% and footwear prices by just above 18%. It set out the following projections – with Scenario A being “a universal tariff of 10% or even 20% on all imports into the United States from all countries,” and Scenario B taking the form of “an additional tariff of 60% or even 100% on all imports from China on top of existing tariffs.”
ArentFox Schiff put forth some suggestions for brands, including those in the apparel segment (80% of clothing items sold in the U.S. is currently imported), stating, “Companies will need a multifaceted approach to mitigating the impact of significant tariff increases and be prepared to pivot quickly. We are advising companies to reassess their supply chains, make strategic global sourcing and manufacturing decisions, and review contractual obligations to protect from tariff risks. Some brands are already diversifying their supply chains by developing manufacturing relationships and sourcing capabilities in alternative countries like Cambodia, Vietnam, Mexico, Brazil, and with Free Trade Agreement partners.”
“While diversification is key, these measures may only mitigate and likely will not entirely avoid tariff increases. We are counseling companies through several tariff reduction strategies such as first sale, tariff engineering, origin reviews, and others. A flexible supply chain may allow companies to adapt and respond to fast changes in market conditions and tariff rates.”