OAKLAND - Online resale platform ThredUp estimates that the US second hand apparel market will double in the next five years, reaching US$77 billion, and could be twice the size of fast fashion by 2030.
The projections are made in the company's 2021 annual 'Resale Report' which reveals that 33 million US consumers bought second hand apparel for the first time in 2020, and that three-quarters of them plan to increase their spend on pre-loved clothing.
Third-party retail analytics firm GlobalData surveyed 3,500 consumers for the comprehensive study which ThredUp claims is the most robust measure of the US second hand market.
