Secondhand clothing sales are booming – and may help solve the sustainability crisis in the fashion industryWhile fast fashion is expected to continue to grow 20 per cent in the next 10 years, secondhand fashion is poised to grow 185 per cent. — Reut
While fast fashion is expected to continue to grow 20 per cent in the next 10 years, secondhand fashion is poised to grow 185 per cent. Thanks to growing consumer demand and new digital platforms like 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.
For clothing resellers, the ongoing economic contraction combined with the increased interest in sustainability has proven to be a winning combination. Consumers have become more aware of the ecological impact of apparel production and are more frequently demanding apparel businesses expand their commitment to sustainability. Buying secondhand clothing could provide consumers a way to push back against the fast-fashion system.