ThredUp Riding the Wave of Secondhand Fashion's Rapid Growth
Online resale platform thredUP suggests the secondhand #fashion market could trump the size of fast fashion by 2030. Leveraging a new study out from research and analytics firm GlobalData Plc, the company has estimated US sales for secondhand fashion will exceed $75 billion -- double the current size -- within the next five years.
A decade ago, such a level of growth was unimaginable. #Secondhand clothing was though of as old, worn, tatty, tainted. That perception, however, has changed. It’s now cool, hip, current to be wearing secondhand. There’s a pride in ‘fashion flipping’ – buying secondhand clothes and reselling them. For Boomers and #genzs alike, and from #luxury to mass market consumers, secondhand has come of age.
ThredUp’s suggestion that the secondhand #apparel market will exceed the size of fast fashion by 2030 is a point of debate. However, there’s no debating that ThredUp is in very strong position to benefit from the #sustainability-led trend.
Smart #leadership. Strong business model. Good for customers and better for the planet.
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