HOW IS THE MARKET LOOKING?
The population of Spain is currently at 46.94 million people and the prediction is in the next 4 years to grow with 340 000. This is due to exponential grow, the fertility rate was in 2018 at 1,26. Our target market is growing with more babies being born every year. Looking at 2008 the fertility rate went down with 0,19 which works in our favour. More families are making the decision to have one child. In the past before NEWORN it would be common to save the children’s clothes in boxes for the possibility of having another child. This behaviour reduces with the fertility rate going down. If the decision is made for an only child there is no reason to keep the clothes.
HOW DOES IT WORK?
NEWORN is a company that provides a new service for the clothing industry. Through an app and website, it is possible to post children’s clothes that are too small for your child. If somebody wants the clothes they can be traded in exchange for tokens. With the received tokens it is possible to do two different actions. The first action is to use the received tokens and trade them for bigger clothes for your child. The second action is to use the tokens for benefits from a partner company of NEWORN. An example is getting a discount on diapers. With our service it makes it unnecessary to buy new clothes with actual money. Through collaborative consumption, households can save money in a time of crisis.
Another benefit is that the clothing waste will go down, which helps the fight against climate change. NEWORN is going to change the perception of second-hand clothes and the way people make purchases. NEWORN will start in Spain. The average clothing waste per person is 2.1 kg in Spain (Fertility rate Spain, Statista, 2019) and Barcelona is the third most popular city for startup founders.