07 Sep 2021
Wardrobe Economy
Why editing your wardrobe and reselling could be a smart money move?
How often have you stood in your closet or dresser knee-high drowned in a heap of clothes, and said, “I have nothing to wear”? All too often we find ourselves shuffling through a sea of clothes that you’ve only worn a handful of times with no intention to wear it again, and soon enough we find ourselves overcome with guilt and confusion. Sound familiar?
The good news is, there’s a growing global marketplace that we’ve coined the ‘wardrobe economy’ that will save you space in your wardrobe, help the planet and make you money.
Fast fashion produces 10% of the world’s carbon emissions (more than international flights and maritime shipping combined), is the second-largest consumer of the world’s water supply and is a key player in the pollution of the ocean.
Annual wardrobe edits are a handy way to organise and declutter your wardrobe. Having a well-organised wardrobe can make a *huge* difference when it comes to what you actually wear and will help you focus on new ways to wear your existing pieces and identify essential items to invest in to pull it all together. And while there is no magic formula to help you go about editing your wardrobe, here are some tips:
- Purge your wardrobe
Remove everything from your wardrobe, put to one side anything that is the wrong size, worn out, broken, ill-fitting, or uncomfortable, and items that haven’t been worn in 6-12 months.
To know if you are really going to wear them again, try them on again.
As Marie Kondo would suggest, be honest with yourself when purging your wardrobe, will you wear it again?
Consider your clothes as though they were new items that you were going to buy (and spend a lot of money on).
Consider the following questions:
- Does this suit me? Compliment my shape? Fit?
- Does it work with my current lifestyle?
- Is it in good condition? A colour that suits me? Comfortable?
- Am I happy wearing this?
- Have I worn it in the last 12 months?
- Mindful Shopping
This may seem cliche, but trust us it works.
Sometimes we can get overly excited when we see those BIG % off sales. It’s easy to impulse buy because we think we’re going to be getting a bargain. Often though, we end up with an item of clothing that doesn’t quite work, leaving us with too many items in our wardrobe that go unworn. All because we were craving that dopamine hit!
Before hitting the ‘buy now’ button, ask yourself:
- Do I really need this piece of clothing?
- Will I wear it regularly?
- Would it buy it if it was full price?
- Can I purchase something similar second-hand elsewhere?
By focusing on mindful shopping, you will likely make much better decisions, buy only what you will actually wear, save money and help the planet. Win win!
- Re-Sell
Now, this is where it gets fun, especially for your wallet. Reselling and repurposing your clothes can make you some *HUGE* bank and wearing ‘second-hand’ has now become cool.
In fact, the secondhand market is expected to double in the next 5 years, reaching $77B according to ThredUP.
Selling your clothes can offset those hefty prices you paid for your garments. Some luxury and vintage items gain value over time and are often seen as tradable assets with a high resale value.
Here at Mills & York, we have your back. We can schedule a wardrobe consultation with you, to help ascertain what pieces you’d like to edit. Through our platform you can then lend or resell your items, or rent and buy.
It’s super simple. For more information jump on our FAQ’s here.
After all, you don’t want to miss your chance to make a buck or the bragging rights you are granted as a conscious consumer.