The secondhand clothing market is exploding

This is due in part to sustainability concerns, but also because the cost-of-living crisis in the UK, where household budgets have been squeezed by higher energy and food bills, has driven a burgeoning interest in pre-owned fashion that spans generations.

‘When consumer sentiment is softer, value is key,’ says CEO James Reinhart. ‘People are looking to shop secondhand to drive more value.’

The overview uncovered that more than half of all shoppers had bought something secondhand in the past year – though that rose to 65% of those aged 12 to 43.

Almost two in five – 38% of consumers – said they shop secondhand to afford higher end brands.

Finding extra use for non-renewable clothing that’s already in circulation is a brilliant way to prevent items from ending up on landfill sites.

Additionally, it discourages consumers from buying new and this reduction in purchasing greatly assists in slowing down environmental degradation.

‘The global secondhand apparel market continues to burgeon,’ says Reinhart.

‘This is a testament to the intrinsic value shoppers find in the secondhand experience and proof of the seismic shift towards a more circular fashion ecosystem.’

What Reinhart refers to here, is the decision of digital-native consumers to be more responsible with their shopping behaviour.

Nowadays, one in three Gen Zers prefer reusing and recycling to disposable fashion – attributable to the fact that resale offers a far more unique means of portraying individual aesthetic; an essential part of what young people are searching for when curating looks that express their personalities.

Their exposure to social media has allowed them to explore their identities with abundant creativity, diversity, and, above all else, authenticity, making them the ideal demographic to carry forward the message that wardrobes are no longer about what’s ‘hot,’ rather the excitement of encountering a gem from past collections – one unavailable in-store – and sharing their findings with their peers.

‘What’s particularly striking this year is new detail around how much younger generations are expected to account for future growth as their purchasing power increases,’ says Neil Saunders, managing director of the third-party retail firm that conducted the report.

‘Traditional retailers are responding to this demand by entering resale and are really the ones driving the market forward, and we expect increased adoption in retail as secondhand becomes a lifestyle for consumers.’