Second Hand Clothing Market Growth

Thredup reports that over the past three years resale has grown 21 times faster.

Second hand clothing market growth. When purchasing second hand clothing consumers value savings above all but also pay attention to the quality of the pieces and the trustworthiness of the seller. The growth of the secondhand market is just one of many new trends affecting retailing. In 2009 it was 22 and by 2019 it was down to 13. Online thrifting is a bright spot in broader covid retail slump with consumers seeking bargains from home online secondhand is set to grow 69 between 2019 and 2021 while the broader retail sector is projected to shrink 15.

Sustainability is also playing an increasingly large role for customers the longer a piece is used and worn the more sustainable it is. A representative study conducted by momox and market research institute gapfish in 2015 showed that 50 percent of germans already bought second hand clothing. Two new surveys suggest that the secondhand clothing market could overtake the fast fashion movement before too long. In 2018 versus 35 billion for fast fashion.

Thredup reports that over the past three years resale has grown 21 times faster in the us than apparel. Secondhand clothing retailer thredup has just released its annual fashion resale report and the market is booming. The second hand apparel market was worth 24 billion in the u s. Buying second hand clothes is nothing new but the sector has been growing considerably thanks to the internet.

Is it in with the old and out with the new. Online secondhand offline secondhand retail 2019 2020 2021 25 0 25 50 75 growth indexed to 2019 market size. Dresses tops will remain top demand generators in the global secondhand apparel market during 2020 2030. Market share for department stores is shrinking.

But by 2028 the used fashion market is set to skyrocket in value to 64 billion in the. According to the latest annual fashion resale report by us secondhand clothing retailer thredup the market is booming. The secondhand economy a 24 billion market as of 2018 is projected to grow to nearly 1 5 times the size of fast fashion retailers with high turnaround and lower prices like zara and h m within. These are some of the factors which are expected to positively impact the global secondhand apparel market.