Resale Report 2021 by ThreadUp
Resale sector is expected to grow 11x faster than the broader retail clothing sector by 2025, and that is driven by more sellers putting great products into the market. As it becomes easier to sell clothes online, more consumers are purging their closets.
Photo: ThreadUp, Resale Report 2021.
The demand for second hand is just getting started. The ThreadUp research has revealed that 76% of people who have never resold clothing are open to trying it. So, the second hand market is projected to double in the next 5 years, reaching $77B.
It is estimated that there are 9B clothing items just sitting, not being worn, in the consumers' closets.
“It is estimated that 36B clothing items are thrown away in the US each year. 95% of which could be recycled or reused.”
The Environmental Impact of Buying Used Instead of New Is Powerful
Resale is reducing fashion's impact on consumers wallets and the Planet. Buying used instead of not only displaces the CO2 emitted from harmful new clothing production but your real environmental impact is even bigger. If you buy used instead of new, you can
reduce carbon footprint by 82%;
reduce energy demand by 88%;
reduce water usage by 98%.
Nearly 2 in 5 thrifters say they are replacing fast fashion purchases with secondhand clothing. Many youngsters have totally new mindset around clothing consumption as 45% of milliennials and Gen Z say they refuse to buy from non-sustainable brands and retailers. So consumers shopping habits are obviously changing and sustainability matters to people more than ever before. People are starting to prefer resellable items to disposable items. As well as, saving saving money on clothes is now the top priority.
“Secondhand expected to be 2x bigger than fast fashion by 2030.”
Read more from TheadUp Resale Report 2021 by clicking here.