Second Hand Clothing Sales Will Exceed $40 Billion In 2022.

In recent years, great changes have taken place in people's shopping habits and shopping methods. They pay more and more attention to environmental protection and sustainable development, and make the development of second-hand trading market more rapid.

Resale website ThredUp, a report this year, shows that 71% of consumers plan to increase purchases of second-hand goods in the future. It is estimated that the total sales of secondhand garments will exceed 41 billion dollars in 2022.

According to ThredUp's research, secondhand resale market accounted for the largest proportion of secondhand garments, accounting for 49% of total sales, 20% of electronic products, 13% of books, 11% of household products, and 8% of other commodities.

From 2017 to 2018, the growth rate of online second-hand garment market was 49%, 25 times that of traditional clothing sales.

Part of the data released by ThredUp, which was released in 2018 in the second-hand resale market survey, is as follows: in 2017, one out of every three women ever bought second-hand garment. In 2017, 44 million women chose to buy second-hand garments. Compared with 2016, a total of 9 million people were sold. 66% of the consumers purchased the finished garments were high-end brands which were not considered at the end of the day. The purchase of second-hand goods was no longer a patent for the civilian population, and 13% of the active consumers were millionaires.

The total retail sales of garments in 2017 amounted to $360 billion, of which $20 billion was used for garment sales; it is estimated that in 2022,

Total sales will reach $400 billion, annual growth of 2%, while second-hand garment sales will reach 41 billion dollars, an annual growth of 15%.

It is estimated that in 2027, 1/3 of the clothing in everyone's wardrobe comes from second-hand stores.

Analysts at Dun & Bradstreet, a financial analyst firm, say second-hand.

The development is very rapid. In the past two years, the sales increased by 7%.

The data collected by IBISWorld, an information consultancy, show that the sales of second-hand resale market to 2021 will maintain an annual growth rate of 3% a year.

The millennial environmental friendly shopping idea also promoted the development of second-hand resale industry.

Due to purchase

It can reduce waste, protect the environment, and cost more. The millennial generation that attaches importance to social responsibility has become the main force in buying second-hand clothes. At present, 40% millennial generation will buy second-hand goods, and 77% of the millennials will choose to buy more environmentally friendly clothing.

Many investors also realize that the secondary resale industry has great potential for development, and the three main streams are

The resale website has received a large amount of financing recently: the second hand luxury consignment site, The RealReal RealReal, now has a total investment of $288 million, which is the most frequently used second hand resale website.

The RealReal completed a $115 million G round of financing in July of this year, and Poshmark, a second-hand online trading platform directly linked to sellers, received a $153 million investment; ThredUp received a $130 million investment.