The Stock Market, Selfridges: Evolving ‘Validation Retail’
Published 30 May 2023
In line with its 2020-launched 360° sustainability strategy, Project Earth, British department store Selfridges has launched The Stock Market, an on-site circularity-focused initiative. Running until June 10, items can be brought into its London flagship to be valued, repaired and altered by a team of experts.
As part of the retailer’s seasonal campaign, Worn Again, which is running from April to August and focuses on circular and second-hand shopping experiences, The Stock Market taps into the resale boom. The global second-hand fashion market is set to nearly double by 2027 to reach $350bn - from $138bn in 2021 to $351bn in 2027 (ThredUp, 2023), as consumers increasingly view products as resaleable assets. The initiative also supports Selfridges’ target of having 45% of all transactions come from circular products and services by 2030. For more, see Validation Studios & Asset Stores in Brand Spaces, Trends & Opportunities 23/24.
With a design inspired by the London Stock Exchange (with money-trading-style screens and on-site “stockbrokers”), The Stock Market is located within Selfridges’ permanent ground-floor pop-up The Corner Shop. Visitors can receive valuations of their luxury clothes and accessories from expert authenticators, with options to sell them back to Selfridges for store credit.
They can also shop for second-hand products and have their items customised by Upcyclers in Residence. Each day brings a different bookable service, ranging from mending knitwear holes with intricate embroidery to adding rivets and corsetry to blazers, as well as tailoring, alterations and repairs for clothing, sneakers and luxury bags (by partners like The Handbag Clinic, Vintage Threads, SneakersER and Sojo). All can be booked as 20-minute slots (the workshops last longer).
See also Rebooting Re-Commerce: Resale & Rental Revisited, and Chloé & Diesel: Digi Track & Trade Luxury.