thredUP’s 11th Annual Resale Report Reveals Consumers Continue to Embrace Secondhand Amid Economic Uncertainty

thredUP’s 11th Annual Resale Report Reveals Consumers Continue to Embrace Secondhand Amid Economic Uncertainty

New study finds more than half of consumers shopped secondhand apparel in 2022; 1 in 3 apparel items purchased in 2022 was secondhand.

The U.S. secondhand apparel market is projected to reach $70 billion by 2027.

OAKLAND, Calif., April 5, 2023 /PRNewswire/ — thredUP (NASDAQ: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, today released the results of its 2023 Resale Report. Conducted by third-party retail analytics firm GlobalData, the 11th annual study serves as the most comprehensive measure of the secondhand market globally and in the U.S., with forward-looking projections through 2032. It also reveals new insights about key factors driving market growth; consumer shopping behavior amid economic uncertainty and inflation, including younger generations’ attitudes towards resale; and why retailers are adopting resale at an accelerated rate, based on surveys of U.S. consumers over the age of 18 and U.S. fashion retailers and brands. In addition, the report includes the top 20 most popular brands in resale.

Originally published at https://www.prnewswire.com/news-releases/thredups-11th-annual-resale-report-reveals-consumers-continue-to-embrace-secondhand-amid-economic-uncertainty-301790307.html
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