The shift to thrift: COVID-19 propels an already surging secondhand clothing market

Sustainability-minded younger shoppers and bargain-hunting consumers of all ages who are feeling the economic pinch of the COVID-19 pandemic are increasingly giving up new clothes for resale items that sometimes still have their tags.

The flow of clothing onto the secondary market was more robust as well, as home-bound consumers cleaned out closets and sold what they no longer wanted. Among them, Walmart Inc. WMT, +0.85% said last month it has partnered with ThredUp to bring secondhand clothing and a variety of new brands to the Walmart website. Macy’s Inc. M, +0.62% and J.C. Penney Co. Inc. JCP, -2.08% have also added secondhand clothing to their merchandise lineups, and major retailers have started to focus on recycling and other sustainability measures.

Online secondhand is set to grow 27% in 2020, while broader retail sector is projected to shrink 23%.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Stars Urge Industry To Keep Donating To SAG-AFTRA Foundation’s COVID-19 Relief FundTom Hanks, one of the first celebrities to contract the coronavirus, is urging his fellow actors to contribute to the SAG-AFTRA Foundation’s COVID-19 Relief Fund, which said Monday it has raised mo… 👍
Источник: DEADLINE - 🏆 109. / 63 Прочитайте больше »

COVID-19 Turned Beauty 2 the Streetz Into an Essential BusinessThe nonprofit's founder had to shift priorities to help people experiencing homelessness while navigating supply shortages. Thank you so much for the feature. beauty2streetz 🙏🏼❤️❤️ all praises. Thank you for what you and your team do. beauty2streetz
Источник: Allure_magazine - 🏆 473. / 51 Прочитайте больше »