Second Hand Clothing Market Growth

Did you know that approximately 1 out of 5 americans shops resale.

Second hand clothing market growth. 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. Second hand uses very. 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. This means that second hand or thrift items will make up one third of our wardrobes in 2027.

In 2018 versus 35 billion for fast fashion say the figures from online store thredupand retail analytics firm globaldata released. Buying second hand clothes is nothing new but the sector has been growing considerably thanks to the internet. The following facts and statistics may surprise you. Thredup posits that the global resale market will be worth 41 billion by 2022 because resale disruptors like itself are growing 24 times faster than the retail industry as a whole.

Selling unwanted clothes creates space in the wardrobe and the financial means to buy something new therefore the second hand market also drives the regular market. In the past second hand goods were bought for primarily financial or ecological reasons whereas today its popularity has reached all members or society. 49 percent year over year versus two percent. That s about 64 million of us.

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. Pre loved fashion as second hand goods are now being called emphasises that clothing is not disposable and can be treasured by someone else. Thredup reports that over the past three years resale has grown 21 times faster.