Size of the resale and thrift store apparel markets worldwide from 2018 to 2028
In 2023, the global resale apparel market was valued at 20 billion U.S. dollars. It was projected that the market would grow to 44 billion U.S. dollars by 2028.
The second-hand apparel market
Second-hand apparel has become more mainstream in recent years as customers become more conscious of their buying behavior. For this reason, the second-hand apparel market has seen a dramatic increase in sales. Younger consumers, specifically Millenials or Gen Z, are more willing to buy second-hand apparel than any other age group. One area which is particularly interesting to the younger generations with less disposable income is the luxury resale market, as it offers the opportunity to acquire brands which would normally be out of their price range.
State of the resale market worldwide
The online resale apparel market is forecasted not only to exceed the market value of thrift stores, but to triple it by 2027. The data is clear: the resale market is here to stay. However, while almost a third of the resale market in the U.S. in 2024 consisted of second-hand apparel, other items have an equally promising resale value, such as electronics, furniture, and books. Nearly one fifth of consumers in a 2024 survey had bought books secondhand in the past 12 months.
