Second Hand Clothing Market Size

Buying second hand clothes is nothing new but the sector has been growing considerably thanks to the internet.

Second hand clothing market size. Every garment sold raises money to fight poverty around the world. Unsorted second hand clothes can be compressed into bales of 500 to 1000 kg. The second hand market generated 360 billion us dollars worldwide in 2017 according to fashion resale service thredup with online sales of second hand items growing 35 percent against just 8 percent for brick and mortar stores. These inputs are used by analysts to model and calculate market sizes channel sizes and market shares.

An alarming rate of 68 pounds of clothing is estimated to be thrown away by each american. These sorted garments are compressed into bales of 50 kilograms 110 lb and exported. The second hand apparel market was worth 24 billion in the u s. Secondhand apparel market value worldwide from 2012 to 2018 with a forecast from 2019 to 2023 by segment in.

Is the largest exporter amassing over 1 million in trade. When clothes have finished their life in your wardrobe give them a new lease of life via an oxfam shop. But by 2028 the used fashion market is set to skyrocket in value to 64 billion in the. In 2018 the global resale apparel market was valued at 5 billion u s.

Globaldata s assessment of the secondhand market is determined through ongoing retailer tracking official public data data sharing store observation consumers surveys and secondary sources. It is said that over 70 percent of the total world population wears second hand clothes. Secondhand apparel market value worldwide from 2012 to 2024 in billion u s. Market data analysis included in this report was done in april 2020.

One dress could raise enough money to buy drought resistant seeds for a family to keep growing food despite a. In 2018 versus 35 billion for fast fashion. By choosing second hand you can save great clothes from needlessly ending up in landfill. Innovate how the secondhand clothing industry is getting a major makeover and tapping 220 billion of retail value thredup s new approach is helping thrift grow 20 times faster than retail.