Closing The Circle
Circular services that extend the life of fashion are resonating
Amongst customers, there is an increasing understanding of the sustainable benefits of extending the life of their fashion items to reduce the number of pieces that end up in landfill. Covid-19 restrictions globally have given people more time to clear out their wardrobes, which we believe has contributed to the growth in use of circular services.
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Second Life
Second Life is FARFETCH’s resale service for luxury handbags, which by the end of 2020 had expanded to 30 countries across North America and Europe. It allows customers to sell bags to earn FARFETCH credit
Second Life YoY growth 2019/20
Amount of Credit generated
+527% YoY
Number of bags sold by customers
+348% YoY
Uplift in Average Order Value
+54%
As against the AOV of non-Second Life customers in 2020, AOV refers to purchases using Second Life creditSource: FARFETCH Second Life internal data
A third of Second Life customers use their credit to purchase another bag
Source: FARFETCH marketplace sales data
Luxury’s most iconic brands are where many Second Life customers spend their credit
Top brands on which Second Life credit was spent in 2020
Source: FARFETCH marketplace sales data
#1 Gucci
#2 Saint Laurent
#3 Prada
“
I was so excited when I saw Second Life for the first time. I think it’s the future of fashion. We should all be reselling our incredible pieces.
Anonymous Second Life customer feedback
FARFETCH Donate
FARFETCH Donate is a service that allows users to raise money for their favourite charity and earn FARFETCH credit, by donating clothes they no longer wear
FARFETCH Donate YoY growth 2019/2020
Items donated in 2020
54,187
Increase in number of donations
+662% YoY
Number of charities supported in 2020
1,051
Throughout 2020 FARFETCH Donate was a UK-only pilot.
Source: FARFETCH Donate internal data
Source: FARFETCH Donate internal data
Future Insight: Circularity
FARFETCH believes in the importance of breaking fashion’s traditional linear narrative of buy, use, damage and dispose, replacing it with a story that is more circular
To increase the lifespan of luxury fashion pieces, we believe that repair services will increasingly play a key role. FARFETCH Fix was introduced in February 2021 to enable our customers to repair and restore their favourite shoes, handbags and leather goods to their former glory. By restoring an item, the owner can not only continue to love and use it, but also help to retain its value. Ultimately this means one fewer luxury item disposed of unnecessarily, with the environmental consequences that may bring.