While our health, and that of our friends and our family, is undoubtedly our biggest worry right now, the unprecedented spread of Coronavirus has seen a dramatic subsequent downfall of the economy – a side effect that’s enormously detrimental to a huge number.
All products are independently selected by our editors. If you buy something, we may earn an affiliate commission.
Perhaps you’re newly-unemployed, maybe you’ve been furloughed or you might even be struggling with your own business, hundreds of thousands of people are facing a tricky few months financially. Unsurprisingly, therefore, several of us are looking to other avenues to make a little money.
And while you may have been spending the last couple of weeks brainstorming big ideas as to how you might be able to boost your bank account, the answer was actually sitting in your wardrobe all along.
Whether or not you’ve ever considered it, now is the perfect time to realise that it’s not just fashion influencers who can make money from their clothes.
Victoria Prew, founder of fashion rental brand HURR Collective, has shared her top tips for monetising (and, in turn, decluttering) your wardrobe…
Six ways to make money from your wardrobe at-home:
1. Set up a Depop account
Download the Depop app to your phone and upload photos of the pieces you’re looking to sell. Depop is a mix between eBay and Instagram, serving as a platform for aspiring e-shop owners. It’s a treasure trove for one off pieces and pre-loved buys – a great place to start.
Pro Tip: Prioritise seasonal items depending on the time of year. For example, right now is a great time to list dresses and blouses as we head into Spring.
2. Use Instagram Stories to sell directly to your followers
Create a ‘Selling’ highlights cover at the top of your profile and list the items available to sell to your followers. There are no fees for doing so and people can DM you with any questions.
Pro Tip: Take the time to photograph photos nicely to increase the chances of your pieces selling.
3. Rent your wardrobe on HURR
If you’re not quite ready to sell, try renting out your clothes. HURR is the ‘Airbnb of Fashion’ and gives you a way to monetise the items you don’t wear in your wardrobe by renting them out. A dress worth £150 would only need four rentals to cover its cost.
Pro Tip: Opt for the door-to-door courier service option to minimise hassle.
4. Check out Vestiaire Collective to sell designer pieces
If you have designer pieces check out Vestiaire Collective, whose team of experts check the authenticity of each item before you buy and sell. There are two ways to get started. You can either DIY (you list photographs and prices) or there’s a concierge service, where their team will come to your house and do all the work for you.
Pro Tip: Direct shipping is now available for every item under £500, saving on average £10 per order. Click here for more information.
5. Try the John Lewis BuyBack scheme
The John Lewis BuyBack scheme pays you for unwanted clothes which you’ve previously bought from them. They’ll make sure they’re reused or recycled and never go to landfill. Most menswear and womenswear items are accepted and you’ll receive £3 credit for each eligible item.
6. Send your old jeans to M.i.h Jeans and get 25% off a new pair
You can send any jeans (not just old pairs of M.i.h jeans) and your old denim and jeans will be recycled into new yarns for new denim, and old jeans will become new jeans. In return, you’ll receive 25% off a brand new pair in their recycling initiative that seeks to limit the environmental impact of new clothes and reduce textile waste.