The global secondhand market will double to $350B by 2027, according to ThredUp.

 

The global secondhand market will double to $350B by 2027, according to ThredUp.  The company's latest Resale Report anticipates that Generation Z will lead the industry's growth in the U.S. ThredUp’s 2023 Resale Report found that online resale is growing faster than any other sector of the U.S. secondhand market. It expects the online resale market to expand by an average of 21% per year over the next five years. The report estimates that two out of every five clothing items owned by Generation Z are second-hand. U.S. consumers purchased 1.5 billion second-hand apparel items in 2022, 40% more than they bought in 2021. Value, quality, selection, and convenience are the top factors driving resale purchasing decisions.