Image courtesy of REBAG
The way people think about second hand is being transformed across sectors from high end fashion to cult streetwear labels. A recent study from Thred Up, one of the largest resale marketplaces in the United States, highlighted that resale has grown 21x faster than the retail apparel market over the last 3 years.
The report identifies the millennial and boomer generations to be most likely to shop secondhand but growth is coming mainly from Generation Z (15-25yrs) as they enter the marketplace with gusto.
As attitudes to ownership and sustainability continue to change there is opportunity for brands that offer ease of resale for both buyer and seller as well as curated environments offering variety and value. Read on to see what opportunities look interesting in this space.
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