Second Hand Clothing Market Growth

Online secondhand offline secondhand retail 2019 2020 2021 25 0 25 50 75 growth indexed to 2019 market size.

Second hand clothing market growth. The secondhand economy a 24 billion market as of 2018 is projected to grow to nearly 1 5 times the size of fast fashion retailers with high turnaround and lower prices like zara and h m within. In fact the second hand market accounts for around 14 per cent of london s retail establishments and sales volumes across the industry grew over five per cent last year. The second hand market generated 360 billion us dollars worldwide in 2017 according to fashion resale service thredup with online sales of second hand items growing 35 percent against just 8 percent for brick and mortar stores. Middle east africa is expected to account for the highest share in the global secondhand apparel market by 2027.

It s currently worth in the region of 24 billion and is expected to reach 51 billion by the middle of the next decade. Online thrifting is a bright spot in broader covid retail slump with consumers seeking bargains from home online secondhand is set to grow 69 between 2019 and 2021 while the broader retail sector is projected to shrink 15. The second hand apparel market was worth 24 billion in the u s. During 2019 sales in these.

The collection of used and unwanted clothing is booming. But by 2028 the used fashion market is set to skyrocket in value to 64 billion in the. Tuesday 15 may 2018 second hand clothing is becoming increasingly popular thanks to our full wardrobes and a growing awareness concerning sustainable consumption. Although the sector saw a.

As most of the population in the sub saharan african countries wear secondhand clothes due to low income levels and living standards. The canadian apparel resale market includes both resale stores and thrift donation retailers. The secondhand clothes market in the united states has grown 21 times faster than retail sales of new clothing over the past three years. The trendex report said that in canada information published by kijiji revealed that during 2017 85 per cent of canadians participated in the second hand economy valued at 28 5 billion.