According to ThredUp's Annual Resale Report for last year, secondhand shopping is becoming a global phenomenon, expected to grow 127% by 2026. The most startling aspect of the report is the contrast it draws with traditional retail.
They are flocking to thrift and vintage stores in search of authentic retro looks. As much as 62% of Gen Z and Millennials say they look for an item secondhand before they buy a new version of it, according to the 2022 annual industry report from secondhand marketplace ThredUP.
Gen Z's interest in the nostalgic aesthetic may not be as surface-level as it seems. They are a generation growing up in turbulent times, where instability is rife – jumping back into the past is an easy way to circumvent the stresses and anxiety associated with living in the present.
They're just buying stuff secondhand instead. About a third of Gen Z choose secondhand to afford higher-end brands, according to a ThredUp report. Persistent high inflation and fears of an economic slowdown primarily drive these changing preferences.
Thrifting has now become a preferred way of shopping for clothing. The resale market is expected to be worth around $350 billion by 2027, according to a report done by thredUP.
WHY IS THRIFTING COOL NOW? (& how to get ahead of 90% of trends 😎 )
Why is thrifting trendy now?
There is another reason contributing to the young shoppers' infatuation with old clothing: people want to express their individuality through their outfits, but also in a sustainable way. Now, there is a new desire to transition to clothing pieces that are not harmful to the environment.
Secondhand shopping significantly reduces textile waste, lowers our carbon footprints, and helps conserve water. Recirculating clothing through thrifting is a solution that benefits both our world and our wallets.
The concept of thrift dates back to the early 19th century when charities and religious organizations would collect second-hand clothing and sell them to raise funds for their causes. However, it wasn't until the Great Depression of the 1930s that thrift shopping gained widespread popularity.
Members of Generation Z are struggling to keep up their credit scores because of a combination of higher borrowing costs, slowing wage growth, student loans and other debts.
Many Gen Z slang terms were not coined by Gen Z members and were already in usage and simply made more mainstream. In some cases, some Gen Z slang has been derived from African-American Vernacular English, which has led to accusations of cultural appropriation.
The Zeds are the 'up-ageing' generation because they are growing up faster. The World Health Organisation (WHO) estimates that children are beginning puberty three months earlier every decade. They are also in education earlier and are exposed to marketing younger.
Why the 90s? Well, for Gen Z it's about the whole vibe. Many feel that the era represents a carefree time that was about having fun. Considering the stressful reality we've been experiencing over the last few years, it's no wonder Gen Z are feeling nostalgic for a simpler time.
It's okay to buy fast fashion secondhand, though definitely wise not to completely fill your closet with it. It's not just smart for the planet, and it's smart for your wallet to employ moderation when it comes to these pieces so that you aren' t left spending constantly to replace the low-quality items.
While there's no “perfect” day to shop second hand stores, many regulars swear by shopping early on Monday and Tuesday. Homeowners tend to drop off garage sale leftovers on Sunday nights, making for new finds. Plus, the weekends are more crowded shopping days, so employees look to restock early in the week.
You'll find thrift stores in every neighbourhood (even central London!) The profits gained from thrift shops in the UK usually go to charity (hence why they are often called 'charity shops'). They are mostly run by volunteers and rely on donations from the public.
Like older generations, Gen Z still enjoys treating themselves and living life to the full, but they are more likely to seek discounts and schemes to do so, such as having a restaurant discount card.
People thrift because they are looking for treasure. Thrifting can be compared to hunting, which is why they enjoy the thrill of seeking their best find. Consequently, when they find some valuable items regularly, they get tempted to go back more frequently.
Europe's second-hand apparel market is expected to be worth US$ 18,100 million in 2022. Demand in the market is expected to reach US$ 40,676 million by 2032, registering an 8.4% CAGR over the forecast period (2022-2032). Customers are growing conscious of the need for fashion updates, with transparent processes.
Two weeks after entering the chart, the song reached number one on February 10, 2013 ― for the week ending date February 16, 2013 ― making Macklemore and Ryan Lewis only the second act to have a number one in Britain with a self-released single.
If people consider thrifting as the 'end goal' then that's a huge problem.” Evidently, the secondhand clothing trade is far from perfect. Thrifting prolongs the life cycle of clothes, but it does not stop the overproduction that sustains it. In fact, it actually benefits from the excessive output of fashion brands.
Thrifting is not only a more sustainable option, but it's also a creative way to breathe new life into pre-loved clothing. By giving new life to existing clothing, we can reduce the amount of waste going into landfills and save our environment.
In recent years, thrifting has gained popularity primarily because it is cost-effective and sustainable, but the appeal is different for everyone. As thrifting becomes a more mainstream hobby, there is increasing concern about overconsumption, with people buying items only to participate in the trend.
