Due to pandemic restrictions on reaching a wider audience, secondhand is dominating globally, particularly online. Since there is no physical contact between buyers and sellers, many sellers have switched to e-commerce.
Consumers are already seeing secondhand shopping as worthwhile, which has caused demand to skyrocket. According to thredUP’s report, In 2021, 244 million consumers say they have or are open to shopping for secondhand products.
Vintage or retro items, which are very popular among buyers today but are difficult to find in retail stores but are frequently found in second-hand stores, are examples of how trends change and evolve. Younger generations contributed to this, as they are more interested in the latest fashions.
It can be a more affordable option than buying new clothes. Consumers minimize their spending power yet purchase more used clothing compared to new clothing. Fluctuations in the economy fueled consumers to buy cheaper items. A new piece of cloth would be equivalent to four or five used pieces. Who else isn’t convinced to pay less?
Moreover, as the popularity of used clothing continues to grow, it is also becoming more digitally accessible. According to Thred UP GlobalData, 2022 Market Sizing and Growth Estimates “online resale is the fastest-growing sector of secondhand and is expected to grow nearly 4X by 2026”.