Second Hand Clothing Market Growth

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.

Second hand clothing market growth. In 2018 versus 35 billion for fast fashion. 44 million women shopped second hand in 2017 in comparison to 35 million in 2016 according to thredup a consignment site that is part of a larger collaborative consumption movement which encourages consumers to live in a more collective sharing economy. 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. Online secondhand is set to grow 27 in 2020 while the broader retail sector is projected to shrink 23 70 of women have or are open to shopping secondhand.

Online secondhand offline secondhand retail 2019 2020 2021 25 0 25 50 75 growth indexed to 2019 market size. The second hand apparel market was worth 24 billion in the u s. As most of the population in the sub saharan african countries wear secondhand clothes due to low income levels and living standards. But by 2028 the used fashion market is set to skyrocket in value to 64 billion in the.

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 collection of used and unwanted clothing is booming. Tuesday 15 may 2018 second hand clothing is becoming increasingly popular thanks to our full wardrobes and a growing awareness concerning sustainable consumption.