Is second hand shopping becoming more popular?

Buying second-hand is more on trend for consumers than ever, and dedicated platforms are optimising on this, as well as high street and online retailers. Various factors are at play, from shoppers' heightened awareness of preloved fashion and sustainability concerns to the biting cost of living crisis.

Is the second hand market growing?

In 2022, the global market value of secondhand and resale apparel was estimated to be worth 177 billion U.S. dollars. This value is projected to rise rapidly in the coming years, almost doubling in size from 2022 to 2027, reaching a value of 351 billion dollars.

Is second hand clothing becoming more popular?

The popularity of pre-owned clothing has been on the rise over the last few years, as consumers are becoming increasingly disenchanted by fast fashion, and more concerned about the environment and sustainability. Having now lost its stigma, second hand and vintage fashion is considered stylish and sustainable.

Are more people shopping second hand?

Second-hand shopping is gaining traction in several countries around the world. Data from the Statista Consumer Insights survey reveals that in the United States, now as many as 60 percent of respondents say they have made at least one second-hand purchase in the past year, up from 49 percent in 2019.

Why are Gen Z buying second hand?

Persistent high inflation, student debt, and the rising cost of living are primarily driving Gen Z's shopping preferences, says eBay's U.K. chief. Gen Z isn't letting the cost of living crisis stop them from getting their hands on high-end brands—they're just buying secondhand instead.

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What is the trend for second hand clothing in the UK?

Clothing in particular is popular among UK secondhand shoppers, with 29% of consumers stating that they have bought a pre-owned item of clothing in the last 12 months. Shoes and bags & accessories are equally favored, with 15% of users claiming to have bought items in these categories.

What percentage of Gen Z is thrift?

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.

What is the future of the second-hand market?

Despite the various barriers to growth, it looks as if the second-hand market is set to thrive in the years ahead. According to Thredup's Resale Report 2023, the global secondhand market is expected to grow three times faster on average than the global apparel market overall and will be worth $351 billion by 2027.

What do people buy the most second-hand?

What is the future of secondhand fashion?

According to ThredUp, a leading player in the fashion resale space, the global secondhand apparel market is projected to soar to a staggering $350 billion by 2027, a remarkable leap from $177 billion in 2022.

Why is thrifting trendy now?

“These days secondhand shopping is becoming the norm and, in many cases, preferred to buying brand new because of the wide variety of clothing available and the affordability compared to buying from a traditional retail store,” she said.

Which country has the best second hand clothes?

Is thrifting still trendy?

One of the latest movements in fashion has turned customers toward thrifting – or shopping for used goods at second-hand stores – and away from fast fashion clothing that is mass-produced at a rapid rate to keep up with trends.

Why does Gen Z love thrifting?

For Gen Z, thrifting is more than just an affordable practice; it's a form of self-expression. With a wide range of one-of-a-kind items in thrift stores, they're able to find unique pieces that reflect their personal style. Some Gen Zers view thrifting and reselling as a challenge to find the diamond in the rough.

Why is second hand shopping popular?

“People are particularly price sensitive at the moment, and secondhand goods offer the opportunity to get top quality products at slightly more reasonable prices, while retailers are increasingly prioritising sustainability,” said British Retail Consortium (BRC) economist Harvir Dhillon.

Why is buying second hand better?

Not only does buying used reduce the number of natural resources being used, it also reduces the amount of energy used and pollution that's being emitted. Things like pesticides, burning fuel in the trucks that haul the items, toxic chemicals and carbon emissions.

What is the demand for second-hand clothes?

The global demand for secondhand clothes is projected to grow at an impressive CAGR of 14.8% during the forecast period (2022-2032), in comparison to 7.1% CAGR registered from 2017 to 2021.

What is the best site to sell second-hand items?

What is the risk of buying second-hand?

You could end up wasting money if you have to ultimately throw the item out. Another risk factor when buying second-hand pieces is that you're forgoing guaranteed cleanliness. Without knowing how previous owners cared for their items or whether they were cleaned thoroughly, you don't know what you're getting.

How fast is the second hand market growing?

US secondhand market is expected to reach $70B by 2027. US resale will see accelerated growth in 2023, growing at 26%, and continue the momentum into 2024, growing at 33%. Online resale is the fastest-growing sector of the US secondhand market.

Is buying second hand slow fashion?

It's important to remember that shopping second hand isn't a blanket solution to sustainable style. It's a great way to BUY clothing, but in order to become more sustainable, it's all about reducing your overall consumption. And that includes your second hand consumption.

Is shopping second hand sustainable?

If every consumer this year bought just one secondhand garment instead of a new one, it would lower CO2 emissions by more than 2 billion pounds, equal to taking 76 million cars off the road for a day, and save some 23 billion gallons of water and 4 billion kilowatt-hours of energy, according to ThredUp's report.

Why is second hand fashion growing?

Young consumers are increasingly opting for second-hand fashion for reasons including sustainability as well as "high street fatigue" as they become bored of standard high street shopping.

What age consumes the most fast fashion?

About 54% of Gen Z (ages 18-24) and 57% of millennials (ages 25-39) said sustainability is important to them. Yet, those generations are the leading consumers of fast fashion.

Is Gen Z more frugal?

Over the past year, nearly three out of four (73%) Gen Zers say they've changed their spending habits due to increased prices. Their lifestyle changes have included cooking at home more frequently (43%) rather than dining out, spending less on clothes (40%) and limiting grocery purchases to the essentials (33%).