{"id":14835,"date":"2023-05-25T12:24:50","date_gmt":"2023-05-25T10:24:50","guid":{"rendered":"https:\/\/altaviawatch.com\/?p=14835"},"modified":"2023-05-25T12:24:50","modified_gmt":"2023-05-25T10:24:50","slug":"selfridges-launches-the-stock-market-for-trading-pre-owned-goods","status":"publish","type":"post","link":"https:\/\/altaviawatch.com\/en\/rethinking-retail\/sustainable-retail\/selfridges-launches-the-stock-market-for-trading-pre-owned-goods\/","title":{"rendered":"Selfridges launches The Stock Market for trading pre-owned goods."},"content":{"rendered":"

[vc_row css=”.vc_custom_1519392503248{padding-top: 18px !important;}”][vc_column][vc_single_image image=”14837″ img_size=”full” alignment=”center” onclick=”link_image”][vc_empty_space height=”54px”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]\n\n\tS<\/span>elfridges has launched The Stock Market pop-up within its flagship store in London that mimics the trading floors of stock exchanges with customers able to trade-in their used goods, which forms part of the company\u2019s circular economy strategy.<\/span><\/p>\n

Launched on May 15 the pop-up runs for one month and injects some excitement into the resale and upcycling of goods by aligning it with the buzzy elements of a stock market. Rather than stocks and shares being traded it is clothing, shoes, bags and other accessories that are the assets being bought and sold.<\/span><\/p>\n

Within the pop-up is The Trading Desk that involves Selfridges \u2018stockbrokers\u2019 valuing items brought in by customers who can trade them in for store credit. This sits alongside a number of third-party partners that each offer different circular services such as resale, restoration and alterations for certain product categories. These comprise: Sneakers ER that specialises in the buying, selling and reconditioning of sneakers; SOJO, which undertakes clothing alterations and repairs; and The Handbag Clinic, which buys, sells and repairs bags and other leather goods.\u00a0<\/span>[\/vc_column_text][vc_empty_space height=”37px”][vc_single_image image=”14840″ img_size=”full” alignment=”center” onclick=”link_image”][vc_empty_space height=”37px”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Melodie Hinsley of The Handbag Clinic, says: \u201cWe offer a buy-back service where we authenticate and value the customer\u2019s products. These are on-the-spot valuations that might involve a 20-30 minute assessment and authentication. We also do the restoration of bags and other leather goods.\u201d<\/span><\/p>\n

The early days of the pop-up have been busy, according to Hinsley, who says that on the first day 20 bags were traded in at a cost in some cases of a couple of hundred pounds. \u201cResale is a huge market that is breathing new life into things that would otherwise be thrown into the bin,\u201d she says.\u00a0<\/span><\/p>\n

There is also an ongoing programme of Daily Upcycling Workshops for shoppers to attend including a knitwear surgery, denim embellishment, and upgrading shirts.<\/span>[\/vc_column_text][vc_empty_space height=”37px”][vc_single_image image=”14843″ img_size=”full” alignment=”center” onclick=”link_image”][vc_empty_space height=”37px”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]The Handbag Clinic, along with the other traders, gives out gift card credits for goods its buys-back that can then be used in Selfridges. The department store does not take a cut from the transaction but is instead using The Stock Market pop-up as a way to engage with shoppers and highlight the opportunity for them to participate in the circular economy.<\/span><\/p>\n

The Stock Market is part of the over-arching Reselfridges sustainability initiative whereby Selfridges aims to have as much as 45% of its revenues generated from circular products and services by 2030.<\/span>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"

On 3 June 2021, the world\u2019s largest store entirely devoted to the Harry Potter saga opened at 935 Broadway, New York. <\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[164],"tags":[],"acf":[],"yoast_head":"\nSelfridges launches The Stock Market for trading pre-owned goods. - Altavia Watch<\/title>\n<meta name=\"description\" content=\"On 3 June 2021, the world\u2019s largest store entirely devoted to the Harry Potter saga opened at 935 Broadway, New York.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/altaviawatch.com\/en\/rethinking-retail\/sustainable-retail\/selfridges-launches-the-stock-market-for-trading-pre-owned-goods\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Selfridges launches The Stock Market for trading pre-owned goods. - 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