Resale in the fashion market is becoming increasingly popular for its sustainability and impact factors. It has already become dominant among several high-profile brands, including Nike and Lululemon.
They have opened a recommence marketplace where customers can exchange used items for credits.
With this pace, the second-hand fashion retail market will likely double in five years, reaching about $77 billion by 2025.
Of course, the fashion resale market is yet to grow worldwide. But, the progress it has made now is quite impressive. Let’s learn about 2022 fashion resale and used clothing market and its growth till now:
How Popular is the Used Clothing Market Globally?
It’s estimated that by 2026, the second-hand apparel or used clothing market will grow by 127 percent. Presently, the country that is dominating the used clothing industry in North America. Some other countries that succeeded North America include Europe, Asia, Africa, Australia, and South America.
In 2021, the used clothing market saw an upsurge of about 32%. There was also a 58% growth in the resale industry, about five years more than in the past years.
The resale, traditional thrift, donation, and second-hand products in integration contributed to $35 billion in 2021. It’s quite likely that the growth will boost up to $82 billion by 2026. This resale trend will likely bloom 16 times by the end of 2026.
US Used Clothing Market
Out of all the countries, the value of the US used clothing market could increase by three times in the upcoming ten years. While the values were $28 billion in 2019, it could shoot up to $80 billion by 2029.
It’s also said that the second-hand clothing market grew 21 times faster than conventional clothing in 2019. With such a pace, imagine the growth it could witness in 2029.
During the pandemic, the country introduced the Clean Out trend that contributed even more to the second-hand market. In 2021, about 57% of people in the US resold their apparel under the Clean Out trend. Likewise, people who didn’t resell the apparel are open to the concept.
If we check out the growth between 2020 to 2021, the graph was up by 22 points which are quite decent. This trend is common among young people as they are more into trendy experimental outfits.
Can Used Clothing Replace Traditional Apparels?
The possibility is high! As people are getting more considerate of fashion, consumers are looking for trendy outfits at a reasonable cost. This could be justified by the fact that 41% of consumers look for second-hand first when buying apparel for themselves.
Similarly, the trend is the same among Gen Z and millennials, as about 62% look for second-hand items before buying their new version. Also, about 46% consider the resale value of any clothing before purchasing.
This shows how people are more into smart shopping rather than general ones.
Why is the Used Clothing Market Growing So Fast?
After reading all the statistics, you must be curious about all the fuss in the used clothing market. Why has the resale market gained so much popularity in such a short time? Here are the reasons:
Targets Price Conscious Customers
Used clothing offers good fashion without costing a fortune. With inflation and the pandemic, people are more likely to suffer from low incomes. In that case, every shopper can’t buy high-priced branded clothes now and then.
In such situations, used clothing acts as a savior! Resale and used clothing has been a massive hit during the pandemic.
Sustainable Shipping
People have become more considerate of the environment in the advanced and modern world. They implement their best efforts to live in a clean and eco-friendly atmosphere. In that case, used clothing can work as an added benefit.
As cloth manufacturing requires gallons of water, it has become a major cause of water pollution globally. So, if more people indulge in used clothing, there are fewer chances of such environmental concerns.
Also, reusing clothes is a good way to prevent them from being discarded in landfills.
The Simplicity of Used Clothing Websites
Used clothing shopping is simple for people. Many websites are going online with their stocks so that people can access them from their homes. Similarly, they are working on sorting the products as per age, gender, and brand, so people wouldn’t struggle to find what they desire.
The best part is that these recognized websites inspect the clothes thoroughly so buyers wouldn’t have to face any surprises. People prefer resale and used clothing when they get everything they need at a reasonable cost.
Try Samiyatex for Used Clothing!
Do you want to take part in sustainable fashion? If yes, then Samiyatex is for you. We are recognized graders and exporters of used shoes, second-hand clothes, and vintage clothing with years of experience. We provide best-in-class export bales of used clothing to offer the best customer experience. Contact us today to know more!
That’s all. We hope now you know all details about the 2022 fashion resale market and used clothing.
