Resale market expected to be valued at $64 billion in 5 years, as used clothing takes over closets

upending much of the retail industry and putting a damper on apparel sales, the secondhand clothing market is still expected to boom, according to one online, resale marketplace.

It said the resale market grew 25-times faster than the overall retail market last year, with an estimated 64 million people buying secondhand products in 2019. Some experts have cautioned that consumers might pull back on shopping used merchandise as they think about the Covid-19 virus and how it can be transmitted. Some worry it might linger on fabrics. But according to Reinhart, that fear is not yet showing up in the data.

I'll go to my local thrift store for clothing that donates its' profits to charity.

people lose and CEO's win

Be more than billion dollar level. It'd be up to multitrillion dollar level for used houses, recycles, used cars,...used body parts, etc and etc.

NEWS FLASH!!! REALLY?

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Resale sector exploding, set to hit $64 billion in 5 years, report - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Resale sector exploding, set to hit $64 billion in 5 years, report - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »