The resale industry is thriving, with advanced technology playing a central role in the evolution of the secondhand fashion sector. Several online platforms, reaching millions of users worldwide like Vestiaire Collective, The Vintage Bar, Libas, Miinto, eBay, Grailed, and Vinted and the rise of live reselling sessions on social media show the profound influence of digital on the secondhand market. But technology's impact goes far beyond new retail formats and high-fashion presentations. It is also revolutionizing how resellers sell their pre-owned items, reshaping the fashion resale industry through innovations such as AI-driven authentication, cross-listing tools, and advanced inventory management systems.
Trust is paramount in the luxury market, especially in the secondhand segment, where ensuring the authenticity of goods is critical. To combat counterfeiting, various technological innovations have been developed. Blockchain technology, for example, has become a powerful tool in this regard. The French company Arianee has created a 'digital passport' for luxury items, stored on a blockchain, which provides a detailed provenance of the item, including its ownership history and condition reports.
Similarly, Entrupy has developed an AI-based authentication solution that uses microscopic imaging and machine learning algorithms to verify the authenticity of high-end items. By comparing items with database of millions of images Entrupy's technology can distinguish genuine products from counterfeits with a 99.1% accuracy rate. These innovations are crucial for assuring the quality of the products listed on resellers’ websites and online marketplaces. Actually, some of the second hand platforms are pioneers in integrating their own AI software into their authentication services to further enhance trust and authenticity.
Libas stands out as one of the first marketplaces incorporating AI into its authentication process, in addition to image pre-authentication and expert in-house evaluation. The ASLE AI database of Libas is composed of thousands of detailed images from merchants and suppliers, encompassing both authentic and counterfeit items. This extensive image collection is designed to enhance the model's ability to accurately assess the authenticity of new bag images submitted by users, ultimately delivering a clear verdict: Real or Not Real.
Discover our exclusive interview with the founder of Libas:
Libas x Oly interview - the AI-powered go-to platform for shopping second-hand luxury fashion in the Middle East and North Africa
And learn how marketplaces authentify pre-loved items in the following article :
Authentication services : How Reselling Platforms Verify Luxury Items authenticity ?
The practice of "Cross Listing" is becoming a valuable strategy for resellers, offering an opportunity to optimize their growth. By enabling resellers to simultaneously showcase their products on their website and across multiple marketplaces, cross listing significantly enhances resellers’ visibility and boost their sales.
Managing the cross-listing process, however, can be time-consuming. To navigate this challenge, resellers can utilize platforms like Oly, a digital platform that simplifies and streamlines the management of product listings across various marketplaces, such as … improving efficiency and’ expanding reach. Oly connects fashion resellers' online shops like Shopify, WooCommerce (WordPress), and other CMS systems to major secondhand marketplaces such as Vestiaire Collective, The Vintage Bar, Libas, Miinto, eBay, Grailed, and Vinted, among others.
Oly stands out as an essential tool for resellers aiming to elevate their fashion business. It optimizes operations and facilitates global expansion by seamlessly connecting with international marketplaces, driving their business growth to the next level.
Stay updated on the resale fashion e-commerce trends in 2024 with the following review:
The resale fashion e-commerce trends to keep an eye on in 2024
AI-driven software plays a center role in various aspects of inventory management, such as monitoring and tracking inventory levels, orders, sales, deliveries, and receipts. It can also generate purchase orders, bills of materials, and other production-related documents. Automated inventory management software has significantly improved fashion businesses by enabling data-driven operations in production and distribution centers.
Here are several ways artificial intelligence can enhance inventory control in a reseller’s business:
In addition to cross-listing integration, Oly provides an inventory management service to resellers. With its advanced capabilities, Oly streamlines and optimizes the inventory management process, allowing resellers to efficiently handle their product listings across multiple marketplaces.
Key features of Oly's inventory management include:
Oly simplifies the order fulfillment process by centralizing orders. This ensures timely shipping and efficient handling of customer orders.
Oly provides real-time updates on inventory levels, ensuring resellers are always aware of their stock status. This helps prevent overselling and stockouts, maintaining a seamless sales process.
The platform automates the creation and updating of product listings across various marketplaces, saving time and reducing the risk of errors. Resellers can manage their inventory from a single dashboard, simplifying operations.
Oly connects online shops from platforms like Shopify, WooCommerce (WordPress), and other CMS systems to leading secondhand marketplaces such as Vestiaire Collective, The Vintage Bar, Libas, Miinto, eBay, Grailed, and Vinted. This integration expands the reach of resellers' products and increases sales opportunities.
By analyzing sales data and market trends, Oly’s support team provides valuable insights that help resellers make informed decisions about inventory purchases, pricing strategies, and marketing efforts. This data-driven approach enhances overall business performance.
For more tips on how to grow a resale business and gaining global insights into the secondhand market, feel free to consult Oly’s resellers blog.
