In a win-win for both wallets and the planet, second-hand clothing sales are reaching new heights: The second-hand market is expected to account for 10% of global fashion sales by next year, according to The Guardian.
The outlet said the surge was due to a combination of economic pressures and growing environmental awareness, as savvy shoppers turn to resale to pick up luxury items at lower prices as the rising cost of living puts strain on budgets.
But it’s not just about saving money: sustainability concerns are also driving the secondhand boom.
By extending the life of existing clothes, reselling helps reduce the fashion industry’s massive carbon footprint — in fact, according to reselling giant ThredUp, buying second-hand clothes reduces carbon pollution by a whopping 82%.
The best part is that this trend isn’t just for environmentally conscious millennials anymore: The Guardian reports that more than half of shoppers across all generations have bought something secondhand in the past year.
For younger buyers, online marketplaces like ThredUp and Depop make it easy to find trendy second-hand items, while an increasing number of older shoppers frequent brick-and-mortar resale stores.
Big retailers are also getting in on the action: Brands from luxury department stores to fast fashion chains are experimenting with embracing second-hand sellers to meet customer demand, as detailed by The Guardian.
ThredUp co-founder James Reinhart explained to the Guardian: “When consumer sentiment is soft, value matters. People are looking to buy second-hand items to get more value out of them.”
Despite the profitability challenges in the resale industry, Reinhart is optimistic about ThredUp’s future, saying “we have a lot of confidence.”
The value goes beyond just monetary savings: buying secondhand is a small way shoppers can reduce their impact on the planet while expressing their own personal style.
With the resale market predicted to more than double over the next five years, it’s clear that secondhand is becoming the new normal — a fashion trend we can all celebrate.
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