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Secondhand clothing on track to take 10% of global fashion sales | Retail industry

Secondhand clothing sales are on track to make up a tenth of the global fashion market next year, as the cost of living crisis and concerns over sustainability drives consumers towards “pre-loved” garments.

Global sales of pre-owned clothes surged by 18% last year to $197bn (£156bn) and are forecast to reach $350bn in 2028, according to a report by GlobalData for resale specialist ThredUp. The landmark is expected to be reached a year later than predicted, as global growth remains slightly behind previous estimates.

However, the US secondhand market grew seven times faster than overall fashion retail where sales were flat in 2023 from a year earlier.

A screenshot from Depop’s explore page. Photograph: Depop

James Reinhart, the co-founder and chief executive of ThredUp, said the resale sector had continued to grow in a tough market because it was “more resilient” when household budgets were squeezed by higher energy and food bills.

“When consumer sentiment is softer, value is key,” he said. “People are looking to shop secondhand to drive more value.”

He said that interest in secondhand items was not just limited to younger shoppers searching for fashionable finds but was starting to “span generations”.

The report found that more than half of all shoppers had bought something secondhand in the past year – although that rose to 65% of generation Z and millennials – those aged between 12 and 43. Almost two in five – 38% of consumers – said they shop secondhand to afford higher end brands.

For young people, the trend is being driven by the ease of digital secondhand shopping at sites such as Vinted and Depop, as well as ThredUp, with online resales expected to more than double in the next five years to reach $40bn.

Tens of thousands of garments stored on a

New means to acquire designer vogue at discount retail store costs

There is certainly a great deal to really like about designer luggage and apparel — apart from for the rate. That is where by the secondary market arrives in.

We are not just speaking outdated jeans and t-shirts, nevertheless, as you can now obtain real identify-model designer apparel at just a fraction of the first value.

Lindsay Patterson is a freelance sports activities reporter and blogger who desires to seem sharp. She has been leasing designer clothing from the web page Rent the Runwayfor numerous years.

“You will not have to have all the gown outfits like we utilised to have in our closet,” she said, detailing her selection to rent.

Patterson stated she’s saved thousands of dollars on designer-name trend by renting and getting made use of objects.

“The unique value could be $800 or $900,” she stated, “and you are having it for $50 or $60.”

Amazon groups up with Hire the Runway

Patterson is thrilled that Hire the Runway hasjust partnered with Amazon Trend, letting customers to invest in secondhand clothes retired from the rental support on Amazon.

Lauren Copeland, assistant professor at Kent Condition University’s Faculty of Vogue, states luxurious brand names have to determine out in which they fit in, in this new era of performing from house.

“They are discovering how they can preserve as considerably financial gain as attainable and still hold their brand identity,” Copeland explained.

The on line thrift retail outlet ThredUppredicts the secondhand attire sector will grow 3 times a lot quicker than the apparel industry total, with youthful generations driving the pattern.

“They can buy some thing that is been worn, and it can be exceptional in its presence, or it has a story at the rear of it,” she claimed.

But Copeland states to use

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