The second-hand fashion market is expected to grow by 185% in the next ten years

Under the influence of the epidemic and the shortage crisis, consumers' shopping habits are being changed, which has a huge impact on fashion products around the world. Among them, the second-hand market, especially clothing, is the most worthy of our attention. In many places such as the UK and the US, consumers prefer old clothes to new clothes.

According to the latest survey, the second-hand market will grow by 185% in the next ten years . Because of the impact of the epidemic, the economic income of many people has been affected. Consumers have not only reduced their consumption of non-essential items such as clothes, but also spent every penny wisely, choosing more high-quality products instead of throwing them away after wearing them once or twice.

Not only young fashion gurus buy and sell second-hand clothes on the website, but some elderly people are also turning from physical stores to online shopping, or to some big-name second-hand stores.

On eBay, second-hand goods in the UK, especially second-hand clothes, have seen a surge in sales over the past year. In 2020, more than 60 million second-hand goods were sold. On fashion website Asos, sales of second-hand goods also increased by 92%. Second-hand platform Vinted has 37 million users worldwide , and second-hand clothing sold in Europe has increased by 16-17% over the past year.

In the United States, a study by ThredUp , a second-hand clothing website , found that in 2019, 70% of women were willing to buy second-hand clothing, compared with only 45% four years ago. According to the website, the size of the second-hand clothing market in the United States will triple in 10 years, reaching $80 billion by 2029.

A recent survey by The Conversation, a website , interviewed young American women who frequently use second-hand websites. Most of the respondents believe that second-hand clothes are a way to buy high-quality clothes at a reasonable price. If they sell them at the original price, they may never be able to own these clothes.

In addition, in recent years, fast fashion brands such as H&M and Zara have become popular, and consumers can throw away cheap clothes if they don't like them. However, this business development model has also left many environmental and social problems. After the epidemic, many consumers have gradually realized the importance of environmental protection. Therefore, buying second-hand items is also a reflection of consumers' awakening of environmental awareness.

Observing the change in consumer shopping habits, many "big guys" in the industry have also set their sights on the "second-hand" market. Reuters said in a survey that many large second-hand clothing companies are actively acquiring small competitors. Just like Poshmark and ThredUp are acquiring small companies to prevent future competition from big fashion brands such as Levi Strauss and Urban Outfitters ; some time ago, Etsy also acquired the British second-hand fashion app Depop for $1.6 billion .

During the peak holiday season that just passed, the global supply chain was disrupted, and the advantages of the second-hand market became more apparent. And the epidemic cannot be completely eliminated in the short term, so it is expected that the heat of the second-hand clothing market will not subside, and the market-leading competition will become more and more fierce.

Second-hand market

clothing