Global Sales of Second Hand Apparel to Hit $350bn in the Next Five Years

Credit: WARC
That’s according to the 2023 Resale Report from online resale platform ThredUp, which put global secondhand sales at $177bn in 2022 sales and is forecasting a figure of $351bn for 2027.
Why it matters
A combination of environmental awareness and squeezed incomes is pushing more consumers towards buying secondhand items. But brands also see value in this market: fashion retailers report that sustainability, revenue, and brand loyalty are important benefits of resale. At the top end of the market, resale also helps manage brand image and counterfeiting.
“When I talk to brands today, it’s not a question if they will be involved in resale – it’s about how,” James Reinhart, co-founder and CEO of ThredUp, told Bloomberg.
Takeaways
Credit: WARC
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