The used clothing market is expected to overtake the fast fashion market within the next five years. Second-hand clothing sales will hit the US $64 billion and take up nearly twice the fashion retail market. What’s even more surprising is while the Coronavirus pandemic negatively impacted apparel sales, the used clothing market continued to rise.

The Stats

In 2020, ThreadUp published a resale retail report which captured consumer insights from both pre- and post-pandemic periods.

According to this report, the used clothing market expanded twenty-five times faster than the fast fashion sector. In the period between 2019 and 2021, the study is predicting online used apparel sales to multiply by 69 percent while the retail industry will decrease by 15 percent. Why? Because consumers are seeking more bargains while shopping from home.

The same study reported that 4 out of 5 people were open to the idea of shopping for used clothing when funds are scarce. Nearly 79 percent of shoppers are open to slashing their fashion budget in the upcoming year.

The new normal has already emerged. Consumers are adopting long-term behavioral strategies that will last past the pandemic. In the next 5 years, the used clothing market will take up 52 percent, whereas sustainable fashion will grab 43 percent. Surprisingly, fast fashion will only account for 13 percent. This change is occurring because consumers are becoming more conscious about how they make purchases.

Covid-19 has posed many challenges for the clothing industry; however, one thing about consumer shopping behavior is clear: shoppers are giving priority to value and speeding up the transition to thrift. During uncertain times like Covid-19, consumers pay more attention to their balance sheets. Clothing companies like Samiyatex deliver convenience and value, have the chance to gain momentum.

Other interesting statistics:

  • 70 percent of women are open to the idea of shopping for used clothing.
  • Young shoppers, particularly from Gen Y and Gen Z are adopting this new trend faster than other age groups.
  • 2.5 times more shoppers are planning to change their spending habits to sustainable brands.

What are the top brands with the best resale value?
According to the ThreadUp report, these are:

  • Tory Burch
  • Long champ
  • Kate Spade
  • Frye
  • Coach
    The top resale categories are dresses, outdoor apparel, and bags.
    This eye-opening report clearly demonstrates the lasting shifts that are currently underway and variables powering the future of used clothing.

Factors Fueling the Used Clothing Trend

The early period of the resale industry growth was promoted by early adapters. However, today we can state that this trend has now become mainstream. For instance, in 2018, the used clothing market stood at $28 billion USD, while fast-fashion stood at $35 billion. What’s surprising is that within the next ten years, the used clothing share will triple, rising to $64 billion USD. Fast fashion is expected to grow to only $44 billion. Although Gen Y and Gen Z are responsible for pushing this trend, Boomers are not exactly sitting on the sidelines.

There are other factors or trends that are pushing the used apparel trend. Earlier, it used to be that the fashion industry was influenced by top-down promoters, i.e., fashion designers, movie trends, fashion houses, etc. Today, this has changed to bottom-up promoters. For example, many young people shop according to what’s recommended by social media influencers and trends. This helps shoppers develop their own personalized style.

Other variables at play include:

  • shoppers’ increasing awareness about sustainable fashions
  • the new buy, purchase, and sell models encourage fashion mindful shoppers to easily change their wardrobes
  • change in mindset about clothing

Customers today think about their apparel as ‘tradable assets’. This is significantly affecting purchase decisions related to the value of their used clothing. By adopting this new mindset, shoppers are reducing the quantity of apparel in their wardrobes. They’re also changing their wardrobe more often.

Transcends Income and Age

Buying used apparel is the new circular economy. It has no age or socioeconomic limits. Even though the trend towards buying gently used clothing has always been there, it is only in recent times (especially since the onset of the Covid pandemic) that consumers think about clothing differently. With environmental sustainability and the family budget in mind, consumers are very conscious about how and where they shop.

Companies like Samiyatex are changing shopping perceptions of both regular and luxury resale used clothing. The company specializes in exporting and grading used clothing and footwear. Their vintage apparel division features high fashion brands like Alexander McQueen, Stella McCartney, and Versace

Welcome to the new way of doing fashion!

Visit Samiyatex to shop for high-quality, sustainable fashions.