ThredUp’s annual resale report has become a State of the Union for the thrifting market. The twelfth edition has just been released. Here are some of the key findings: ?? The global secondhand apparel market is projected to reach $350 billion by 2028, growing at a compound annual growth rate (CAGR) of 12%. ???? The US secondhand apparel market grew 7 times faster than the broader retail clothing market in 2023. It’s expected to reach $73 billion by 2028. ??Online resale is expected to more than double in the next 5 years, reaching $40 billion by 2028 and growing at a CAGR of 17%. ??60% of consumers say shopping secondhand apparel gives them the most bang for their buck. ?? 87% of retail executives who offer resale say it’s advanced their sustainability goals. ?????? 42% of consumers say the government should take legislative action to help promote sustainable fashion. Our team at GlobalData Plc have loved working on this report with thredUP for many years. The growth and development of the resale market has been phenomenal! Link to full report in the comments. #resale #secondhand #apparel #thrifting #retail #retailnews #thredUP
Too bad profitability is not mentioned. That is all fueled by investments in the "hot" category. It is impossible (if we look at fundamentals) to make money doing it.
I wonder what the average price is?
Managing Director and Retail Analyst at GlobalData Retail
1 年?? Link to the full ThredUp resale report for 2024: https://www.thredup.com/resale