As tariffs on Chinese imports rise significantly, the US secondhand clothing market stands to benefit. With a forecast to reach $350 billion by 2028, the sector is likely to attract consumers seeking affordability amid rising prices from big retailers. Fast-fashion companies like Shein are expected to hike prices due to increased import costs. Danielle Testa notes a notable decline in US consumer sentiment, suggesting economic stress leads shoppers to turn towards thrifting, positioning secondhand stores as a viable alternative during economic uncertainty.
"We've already seen consumer slowdown and spending in the US," said Danielle Testa, highlighting how economic uncertainty and tariffs influence shopping habits, pushing consumers towards thrift.
"A lot of our clothing comes from outside of the US, very little is made in the US, so we do expect price increases across the board..." said Testa on the broader implications of tariffs.
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