The U.S. stands as the dominant force in the North America Secondhand Apparel Market, commanding an impressive share of approximately 86.3%. With a projected compound annual growth rate (CAGR) of 21.2% during the forecast period, the U.S. is poised to solidify its position as one of the leading secondhand apparel markets globally.
The market’s growth can be attributed to several key factors, including an increasing number of conscious consumers who seek sustainable and eco-friendly options. Additionally, the rise of online platforms enabling people to easily buy and sell pre-owned goods, including clothing, has contributed significantly to the market’s expansion. The presence of prominent providers offering pre-loved clothes further bolsters the market’s growth.
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In the era of quick fashion and outsourced apparel manufacturing, secondhand clothes present a valuable solution to address environmental and labor concerns associated with the apparel sector. The trend of vintage fashion clothing has gained momentum, fueled by the belief that fashion trends cyclically resurface, and retro clothing exudes a unique personality that sets it apart from new apparel.
As the U.S. secondhand apparel market continues to thrive, its impact on sustainability and consumer preferences will likely shape the fashion industry in the years to come. Embracing pre-loved clothing not only aligns with conscious consumer choices but also offers a stylish and distinctive way for individuals to express their personal fashion tastes.
The global secondhand apparel market is estimated at US$ 71,225.6 million in 2022 and is projected to expand at a prolific CAGR of 14.8% from 2022 to 2032, reaching a valuation of US$ 282,748.6 million by 2032. Growing popularity of secondhand apparel among general masses due to their less expensive nature and better quality is a key factor driving demand for secondhand apparel in the market.
Consumers have become increasingly interested in eco-friendly clothing options. Focus on sustainability and higher degree of consciousness have propelled the secondhand apparel market growth. Even as restrictions implemented amid COVID-19 cause supply-chain disruptions, the market is expected to register year on year growth at 4.8% in 2021.
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Product reviews and other features of e-commerce help merchants to study purchase patterns, and trends to create products and services that meet the needs of potential buyers. This provides useful information that retailers can use to develop effective marketing strategies.
The presence of companies such as ThredUP and Poshmark that cater to the demand for inexpensive and ecological alternatives to new clothes will push growth in the coming years. The expansion of online distribution channels also will bode well.
To retain clients, numerous fashion retailers are implementing recycling initiatives and releasing new collections of clothing made from eco-friendly fibers. Increasing consumer awareness of online resale platforms and fast-growing online start-ups offer pre-owned branded and designer goods and rental ethnic wear.
Key Takeaways from the Secondhand Apparel Market Study
- Shirts & t-shirts are expected to hold a market share 29% in 2021 owing to changing consumer preference with an expanding working woman labour force.
- Online retailing is likely to remain a lucrative channel of distribution over the forecast period with a 18.7% CAGR owing to the wider choice of products.
- Sub-Saharan Africa will dominate MEA accounting for more than 50% of the value share through the end of 2031, owing to the popularity of used clothes.
- Pakistan accounts for more than 40% of secondhand apparel sales in South Asia, owing to the presence of a large lower socio-economic consumer base.
- Guatemala leads in the Latin America accounting for over 30% value share through the forecast period.
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Who is Winning?
Key players in the secondhand apparel market are aiming for strategic collaborations and other marketing strategies to expand their business and attract a larger customer base.
Some of the key players present in the secondhand apparel market are ThredUp Inc., The RealReal, Patagonia Inc., Poshmark, StockX, Vinted, eBay Inc., Micolet, Thrift+, Tradesy Inc., Chikatex, HunTex Recycling Kft, A&E Used Clothing Corporation, Mobacotex, Percentil. Maroc among others.
Secondhand Apparel Market by Category
By Sector:
- Resale
- Traditional Thrift Stores and Donations
By Product Type:
- Dresses & Tops
- Shirts & T-shirts
- Sweaters, Coats & Jackets
- Jeans & Pants
- Others
By Target Population:
- Men
- Women
- Kids
By Sales Channel:
- Wholesalers/Distributors
- Hypermarkets/Supermarkets
- Multi-brand Stores
- Independent Small Stores
- Departmental Stores
- Online Retailers
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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