Second Hand Clothing Market Growth

Market sizing and growth estimates 2020 globaldata market sizing and growth estimates 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.

Second hand clothing market growth. There is more to the resale secondhand industry than you may realize. Although the sector saw a. Buying second hand clothes is nothing new but the sector has been growing considerably thanks to the internet. The second hand apparel market was worth 24 billion in the u s.

Did you know that approximately 1 out of 5 americans shops resale. 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 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. This means that second hand or thrift items will make up one third of our wardrobes in 2027.

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. A representative study conducted by momox and market research institute gapfish in 2015 showed that 50 percent of germans already bought second hand clothing. Used clothing facts statistics that will blow your mind a blog post by ecogoodz a wholesale used clothing supplier. In fact the second hand market accounts for around 14 per cent of london s retail establishments and sales volumes across the industry grew over five per cent last year.

The following facts and statistics may surprise you. 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.