![]() ![]() To date, ThredUp estimates there are currently 85 brands and retailers that have resale a product offering, growing from only 38 in 2021. They are now being forced to ask ‘What’s our resale strategy?’” “Nearly 80% of the fashion and retail brand executives surveyed said their customers were already buying used. ![]() “Brands and retailers are beginning to recognize the next wave of growth in fashion is resale,” Marino shared. That’s where ThredUp and its RaaS service can help brands bridge the gap. Profiting through resaleĪs the thrifting lifestyle grows, fashion brands’ livelihood is threatened, particularly in the North American market, where the secondhand clothing market is expected to grow 16 times faster than the firsthand fashion market by 2026. Nearly half of consumers who bought secondhand clothing in 2021 bought ten or more used items. Thrifting’s become such a thing that 41% of those who describe themselves as thrifters shop secondhand first, and they are passionate about it. Some 57% of consumers resold apparel in 2021 and more than half (53%) reported purchasing secondhand in the last year, up 22 points from 2020. consumers either are or have the potential to become thrifters. Thredup estimates that more than half of U.S. That’s why 72% of consumers who think of themselves as thrifters are proud to share their secondhand finds with others, according to a survey conducted by GlobalData among 3,500 American adults and published in ThredUp’s tenth edition of its “ Resale Report 2022.” ![]() Today it’s become a badge of honor to thrift, rather than a stigma.” It takes some work to look through a lot of things, but thrifters get an endorphin rush when they find that Diane von Furstenberg wrap dress for $39 instead of $139. “But we discovered it was a term evocative of an aspirational lifestyle and became an asset for us to connect with shoppers concerned with lasting value, sustainability and a new way to shop.”Īlso driving the thrifting lifestyle is that thrifters get a psychological reward for their new shopping habit. “When we debated using the term ‘thrifter’ in our communications, we wondered if it would equate with things being cheap or low-quality,” explained Anthony Marino, president of ThredUp. Unlike thrifters of old who were forced to live frugally, the modern generation of thrifters, though still interested in saving money, are increasingly motivated to change their shopping habits to make a real difference in the world. ![]()
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