Demand for the buying and selling of second-hand fashion items in the Middle East is on the rise, as millennials and young consumers are becoming more environmentally conscious and as the post pandemic economic landscape has made the region’s consumers price-sensitive.
While thrift stores and the buying and selling of second-hand items has long been common in the West, the GCC has only recently witnessed an increased interest in this space, creating the perfect business opportunity, explained Alyssa Mariano, co-founder of online marketplace for second-hand fashion items Bazaara.
Alyssa Mariano, co-founder of online marketplace for second-hand fashion items Bazaara
“I moved to the UAE in 2017 and I realised there is a huge gap in the market for a platform like this. I was used to buying and selling things second hand and there really was no market to do so in the UAE for fashion and that actually became apparent once Covid hit as well because you couldn’t go to in-person flea markets and thrift shops anymore,” said Mariano.
“That’s when the idea and concept really came to me. I met my co-founder in early 2020 and we decided to launch it late last November,” she continued.
Six months into its operations, Bazaara has 6,750 users and passed the mark of 10,000 listings early May with 300 total transactions to date, said Mariano.
While there are a couple of thrift shops in the UAE, coronavirus throughout most of last year made it difficult to visit them in-person and increased the need for an online alternative.
“There are a couple of thrift shops in the UAE but no marketplace dedicated to second-hand fashion so you have all the horizontal marketplaces which are well-known but for fashion specifically, there really wasn’t one in the UAE or GCC and so that’s why we launched it,” said Mariano.
“Unfortunately a lot of people lost their jobs and their salaries last year as well and so this provides them with an opportunity to declutter their homes and earn extra cash while doing it,” she added.
Once a sale is confirmed, Bazaara’s couriers pick up the item from the buyer and deliver it to the seller, decreasing the risk of virus transmission by minimising content explained Mariano.
Coronavirus has also made consumers more conscious about the environmental impact of their choices, especially among the younger generation. With fashion being the third largest pollutant by industry and the second largest consumer of water, millennials are increasingly purchasing second-hand options, explained Mariano.
“Second hand market places really help in decreasing the environmental impact of the fashion industry and I think these younger generations are really interested in shopping sustainably and living consciously especially after Covid which has taken these concepts and put them in the spotlight,” said Mariano.
While the concept of second-hand buying and selling is still largely nascent in the region, Mariano said she is confident it will grow with time. Bazaara currently operates across the UAE but is eying expansion to Saudi Arabia and the wider MENA region “where this kind of concept is proven but there is still a gap for a niche fashion place,” said Mariano.
“Compared to the west it’s not as popular yet but I think the region is going to get there. The concept is really popular among millennials and the GenZs so it’s just a matter of time before it gets popular here. It is already quickly gaining popularity in the UAE and we are seeing a lot of potential in Saudi Arabia and Egypt as well,” explained Mariano.
Bazaara makes its profit by adding 12 percent to the price the buyer sets when uploading the item for sale. A fixed shipping cost, depending on the size of the item, is also added to the buyer’s price to make the final listed price.
Sellers can choose to negotiate the price or just claim the offer and buyers have 48 hours to confirm. The funds are dispatched when the item is delivered to the seller, outlined Mariano.
Initially bootstrapped from Mariano and her co-founders savings, Bazaara is now seeking pre-seed funding and “looking for strategic partners and investors who can open doors for us and help us expand and scale,” said Mariano.
Mariano’s advice to young entrepreneurs is to “roll up your sleeves and get your hands into everything” and to “always network because you never know when you find your next employee or co-founder like I did.”
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