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Blockchain, IoT and Resale 3

Can technology scale the resale market?

A scaling of fashion resale requires traceability of individual garments and technology for locating and disseminating one-offs on the secondary market, as well as a deeper understanding of value creation and market mechanisms. This project aims at aligning and validating state-of-art of blockchain and IoT technology, as well as investigating user behaviour and economic flows on the current resale market.

The effective use of blockchain, IoT and integration into existing systems requires significant technological knowledge, making the transition into using blockchain hard for small and medium sized enterprises.

Furthermore, resale is contradicting current linear trend- and seasonal logics of the fashion sector which is one of the primary barriers for scaling of resale and take-back schemes both in terms of mindset and logistics.

By being proactive Danish companies can lead the development of solutions that incorporate Danish and European preferences into the standardization process rather than being subjected to the systems of Chinese or American companies or the global Internet giants such as Amazon or Alibaba. DK currently has a stronghold of resale in EU as 9% of DK clothing purchases are resale against 5% in other EU countries. The resale market is immature globally but is estimated to take over fast fashion by 2030. DK could be lead in this through clever implementation of IoT and blockchain technology combined with deep consumer- and market insights. Digital prototypes created with blockchain and IoT technology can decouple resources in the design phase which can save 10-20% textile waste during production. Tracking devices can help inform valid LCA measurements and design practices for longevity and can thereby support legislation and policy making for circularity of the fashion market, currently the most linear sector in the world due to the prevalent trends- and seasonal mindset. Scaling of resale can push for longer use phases of clothing which is vital to ensure climate goals.

Resale is estimated to generate $64B by 2024 and is the only viable way of reducing waste of clothing, pushing for better quality garments, and reducing poor quality textile waste.

 

Participating partners: Alexandre Instituttet, Copenhagen Business School, Lifestyle & Design Cluster, Ganni, Continued Fashion, Create2Stay, By Green Cotton, Soulland, ReShopper, Textile Pioneers, Wehlers and Son of a Tailor

Education in IoT, Blockchain & Resale market for the lifestyle industry.

CBS, the Royal Academy, the Alexandra Institute and LDC are investigating how the circular design principles of the future can meet new technology and support a sustainable scaling of the resale market.

You can join the journey by participating in online educational sessions. Here you get the latest knowledge from research, hear interesting cases and insight into how Blockchain, IoT, design principles and the resale market interact, and how your company gets started with the implementation.

Over four courses, you will go through technologies, supply chain, data and trends in the resale market.

Session 1. Blockchain IoT for scaling resale market. (31. August 2023)

Session 2. Industry Standard of the Global supply chain. (3. November 2023)

Session 3. Trends from the resale platform. (4. April 2024)

Session 4. Value creation in the resale market. (16. Maj 2024 )

Findings

Dissemination and Education. Here you can access material from the projects. Everything for educationaal cases to use-cases and reserach articles.

Can new technology scale the resale market?

Listen to the new Trace podcast series

We are excited to present our new podcast series about the resale market and the latest technologies in the fashion industry. In this episode, you will meet key players and experts from the TRACE project, who, together with leading companies like Samsøe Samsøe, NN07, Bestseller, Soulland, Continued, and By Green Cotton, explore how resale can extend the lifecycle of garments and enhance sustainability.

Hear about exciting topics such as:

  • What is resale, and what challenges and opportunities exist?
  • How to implement resale in practice?
  • The role of technology in the resale market and the importance of data.

The podcast is in Danish and is funded by TRACE, supported by EU and Innovation Fund Denmark and developed in collaboration with Lifestyle & Design Cluster, Copenhagen Business School, the Royal Danish Academy, and the Alexandra Institute.

 

Project Leader

Jan Damsgaard

 

 

 

 

Shared insights

Below you will find research, articles, podcast, educational sessions and much more - feel free to reach out if you have any inquiries.

International paper from the project ‘Blockchain, IoT and Resale’

Exploring Longevity in the Fashion Resale Market

We are excited to introduce this paper from the project ‘Blockchain, IoT and Resale’ 

The paper was first presented at the PLATE conference in Helsinki June 2023 and has now been published in a special issue of the esteemed International Journal of Sustainable Fashion and Textiles,  edited by Kirsi Niinimaki Headed by the title: “Does Resale Extend the Use Phase of Garments? Exploring Longevity in the Fashion Resale Market”.

PhD. Mette Dalgaard Nielsen and Associate Professor, PhD. Else Skjold from the Royal Danish Academy have asked the question whether resale extends the lifetime of garments or not.


Through a ‘follow-the-garment’ netnographic approach that locates in-and-out flow of reseller wardrobes and resale platforms, the study analyses selected resale mechanisms that hinder or promote longer lifetimes of garments. The conclusion shows that resale does not in itself extend garment lifetime, but that it has huge potentials for doing so given the right circumstances.
Several Danish fashion brands and resale platforms are involved in the study, amongst these Baum und Pferdgarten and Ganni A/S.

Read article here: