CEBU, Philippines — As the retail sector is undergoing a roller-coaster ride with the advent of online shopping, the rise of pre-loved retailing is posing another challenge to traditional retail business.
Although they both can thrive simultaneously, shopping malls have to provide ample spaces for temporary tenants for pop-up retailers, as demand for pre-loved products is on the rise, said Colliers International Philippines research manager Joey Roi Bondoc.
Thus, flexible retail spaces will be made available in this era of retail environment and preference.
Because fast fashion, pre-loved clothes, shoes, and even expensive bags-for rent are now in demand in the younger customer segment.
Likewise, Sweden’s ambassador to the Philippines Herald Fries affirmed that even in his country, pop-up shops and second hand stores are rising because people are more aware of the environment impact they contribute whenever they buy brand new clothes or other personal accessories.
This is what Fries described as “circular economy.”
Here, second-hand stores locally called as “Ukay-Ukay” has been there for quite a time already. Not because of environmental awareness, because of economic considerations—cheaper alternative for expensive and brand-new outfit.
This generation, Bondoc said doesn’t mind of the cost although brand is still important. What counts it is still fashionable and disposable too.