One of my favorite times of the year is when ThredUp publishes the annual Resale Report. This report breaks down the trends in the secondhand industry. It’s packed with extremely valuable and insightful information about secondhand, retail, and resale.
The biggest takeaway from this year’s report is that thrifting is more popular and accepted than it has been in years. According to the report, there are more secondhand shoppers than ever before, with 70% of women reporting that they either have or are open to shopping secondhand.
Here are some key reasons why we’re seeing so much growth in the secondhand market:
- Gen Z is leading the growth of secondhand shopping
- Consumers reported feel proud when shopping secondhand and guilt when shopping fast fashion brands
- Sustainability has shifted from a perk to a priority for many consumers
- Celebrities are championing the secondhand movement
- Thrift and resale options are more accessible than ever. Now with online options, Instagram shops, curated shops, upscale resale, there’s a “thrift flavor” for everyone
- More brands have adopted sustainable and resale programs in their stores (ex. Madewell, Levi’s, Guess, J.C.Penney, Macy’s, Nordstrom Rack, GAP all offer secondhand items now)
- More consumers are buying with the intent to resell after they’ve used the item, which influences buying decisions
- Many consumers are shopping secondhand for the first time due to the pandemic
Have you noticed a shift as well? Join the conversation on Instagram