According to a poll performed by the used clothes site ThredUp, secondhand garment sales are anticipated to exceed US $ 77 billion in the next five years. And the statistics have a good chance of coming true!
Secondhand clothes sales are expected to reach $77 billion in the next five years, with shops playing a critical role
More than half of shops believe that used clothes sales will be a significant component of their future business. 60% of merchants believe that partnering with used-clothing vendors is the best approach to enter the industry. 28% stated they’d rather build from the ground up. More than a third of customers buy used clothing and shoes, and 62% of store executives do as well.
Since 2009, ThredUp has been successfully selling used clothing online. Sixty-six percent of the 33 million customers who purchased used clothing for the first time in 2020 indicated they want to spend more on such clothing in the following five years. 45 percent of millennial and Generation Z customers said they will not purchase from unsustainable brands or shops.