In the apparel marketplace, marketing techniques keep evolving. For example, see Fast Fashion Getting Faster. One recent trend? Secondhand apparel sales are taking off.
Not Just for Low-Income Shoppers: Secondhand Apparel Sales Are Taking Off
For years, Americans donated their previously-worn apparel to charities and thrift stores. These items would then be offered for a fraction of the original selling price. But now, secondhand apparel appeals to a broader target market.
“Conscious consumers looking for a great deal on quality apparel have given rise to the fast-growing resale market. Thus, this means some retailers adjusting their models. The fashion resale market grew 21 times faster than the traditional retail market over the past three years, according to a January 2019 report from online resale marketplace thredUP. This year, the resale market will account for one-quarter of the secondhand apparel market and reach nearly half by 2023.”
“The resale sector of the secondhand market is made up of curated products offered primarily online. It includes retailers like The RealReal, Buffalo Exchange, and thredUP. By contrast, the thrift and donation sector is generally offline and includes brick-and-mortar sellers like Goodwill, The Salvation Army, and yard sales. A thredUP survey of 2,000 U.S. women found that growth was predominantly driven by younger shoppers. For 2019, the share of Gen Zers ages 18 to 24 who purchased secondhand apparel grew 46% from 2017. (However, when compared with thredUP’s 2018 survey, Gen Z secondhand apparel adoption decreased from 40% to 37% this year.) Growth for millennials ages 25 to 37 was 37% over the same two-year period, vs. 18% for Gen Xers and 15% for boomers.”