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    Retail MarTech AI – Learning Videos & Stories
    You are at:Home»Retail»Fashion»The Story of Massive Multi Billion$ Second-Hand Clothing Market

    The Story of Massive Multi Billion$ Second-Hand Clothing Market

    0
    By AM on June 29, 2022 Fashion, Retail

    The Risks and Opportunity in Second-Hand Fashion Market Revolution

    Younger People Are Shifting to Secondhand Clothes : thredUP CEO

    As per this report from Bloomberg Quicktake, Pre-loved fashion is on the rise as old clothes find new wearers through global technology platforms. What are the risks and rewards of this resale revolution? Watch the videos below to understand the same.

    Second-Hand Fashion Market

    At Vestiaire Collective’s authentication centre in Northern France, CEO Max Bittner shows Imran Amed how countering counterfeits can secure growth. Back in London, he meets with Maria Raga, CEO of social e-commerce company Depop, as she looks to further build out a young online community.

    As per this article, the U.S. secondhand clothing market is projected to more than triple in value in the next 10 years – from US$28 billion in 2019 to US$80 billion in 2029 – in a U.S. market currently worth $379 billion.

    The second-hand clothing market is divided into 2 main categories:

    • Thrift Stores
    • Resale Platforms

    Its mainly Global Technology Resale Platforms that is leading to the Surge in Second hand Clothing Industry.

    Upsurge in Second-Hand Clothing Industry.

    As per this Global News Report, Since the pandemic began, much of the fashion industry has taken a hit – but not the resale sector. The online market for used clothes is growing faster than the market for new ones. As Robin Gill reports, a younger generation is reassessing both its social values and the bottom line.

    Upsurge in Second-Hand Clothing Industr

    Conclusion:

    Surge in Global Resale Platforms is driving the Surge in Second Hand Clothing Market. For Example, Tradesy and Poshmark that facilitate peer-to-peer exchange of everyday clothing, the digital resale market is quickly becoming the next big thing in the fashion industry. Based on this Report, Secondhand Fashion would grow 185% in next 10 years.

    View, Read and Learn more here:

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    AM
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    AM, The Founder and CEO of RetailMarketingTechnology.com is an Entrepreneur & Business Management Professional with 17+ Years Experience and Expertise in many industries such as Retail, Brand, Marketing, Technology, Analytics, AI and Data Science. The Industry Experience spans across Retail, FMCG, CPG, Media and Entertainment, Banking and Financial Services, Media & Entertainment, Telecom, Technology, Big Data, AI, E-commerce, Food & Beverages, Hospitality, Travel & Tourism, Education, Outsourcing & Consulting. Currently based in Austria and India

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