The online resale market is experiencing a remarkable boom, according to ThredUp’s 13th annual Resale Report released this week. The report highlights accelerated growth in 2024 and projects the sector will reach a staggering $40 billion by 2029. This surge is driven by increasing consumer awareness of sustainable fashion choices, the convenience of online platforms, and the growing acceptance of pre-owned apparel.
“As consumers are increasingly thinking secondhand first, the retail industry is adopting powerful new pathways for resale. From the integration of social commerce and innovative AI applications to the establishment of trade organizations and interfacing with government, it’s clear why resale is seeing accelerated growth and has such a promising growth trajectory.” – James Reinhart, CEO, ThredUp
Key Findings of the ThredUp Resale Report
Rapid Growth: The U.S. secondhand apparel market grew 14% in 2024, outpacing the broader retail clothing market by 5X. Future Projections: Online resale is…
expected to reach $40 billion by 2029, growing at a compound annual growth rate (CAGR) of 13%. Consumer Adoption: 59% of consumers say they will seek secondhand options if tariffs make apparel more expensive.
Resale is expected to grow 11X faster than broader retail clothing The report identifies several key factors contributing to the online resale market’s impressive growth: Sustainability Concerns: The global secondhand market is expected to reach $367 billion by 2029, with a 10% CAGR, reflecting growing awareness of environmental impacts.
Value Proposition: In the next 12 months, younger generations plan to spend 46% of their apparel budget on secondhand. Convenience and Selection: 48% of consumers report that personalization and improved search make shopping secondhand as convenient as buying new items.
Shifting Consumer Attitudes: 39% of younger shoppers have made secondhand purchases through social platforms, indicating mainstream acceptance. Retail Industry Insights The rise of online resale has significant implications for the broader fashion industry…
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