Reshaping Retail: ThredUp’s 2024 Report Unveils the Dynamic Growth of the Secondhand Market

ThredUp’s 2024 Resale Report highlights a transformative year for the secondhand market, underscoring its rapid growth as a significant component of the global retail landscape. With the resale sector expanding 15 times faster than the broader clothing market, and online resale experiencing a 23% growth, the report showcases a clear consumer shift towards sustainable and value-driven fashion choices. The surge in branded resale shops, including notable additions like J.Crew, American Eagle, and Kate Spade, reflects a broader industry move towards sustainability, while legislative support for circular fashion gains momentum among consumers. This pivotal moment in retail suggests a future where secondhand becomes a mainstay, driven by economic incentives, environmental awareness, and a growing preference for online shopping. Read the details in the post.