The retail sector is seeing robust growth in the secondhand apparel market, projected to grow to $367 billion globally by 2029. A 14% increase in U.S. secondhand shopping in 2024, significantly higher than the traditional apparel market's growth, indicates a shift towards sustainable shopping. Younger consumers, particularly Millennials and Generation Z, plan to allocate nearly half of their apparel budgets to secondhand items, reflecting eco-consciousness. The integration of social commerce and innovative technology are key factors fueling this retail evolution, alongside broader economic pressures like tariffs that encourage cost-saving consumer behavior.
The retail industry is adopting powerful new pathways for resale, driven by a surge in secondhand shopping growth and consumer demand for sustainable options.
Millennials and Generation Z plan to spend a significant portion of their apparel budgets on secondhand items, reflecting changing attitudes towards sustainability in fashion.
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