""We're seeing that growth isn't uniform, and it really is concentrated, seemingly, at the high and low ends of the market when it comes to clothes. The amount of money that you're bringing home is ultimately going to determine what your budget looks like.""
""Secondhand fashion transactions were up 22% year over year in March, fueled by increases in both discount apparel and secondhand luxury fashion spending, which jumped fivefold during that span.""
Clothing spending in the U.S. rose 5.1% in March, ending a three-year decline. Secondhand fashion transactions surged 22% year over year, driven by discount apparel and luxury fashion. This trend reflects a K-shaped economy, where high earners benefit from wage growth and stock market highs, while lower-income individuals cut costs. The disparity in spending patterns indicates a stratification in the clothing market, with growth concentrated at both ends. Department stores are struggling, as evidenced by declining sales at Kohl's and stagnant performance at Dillard's.
Read at Fortune
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