Wednesday, May 22, 2024
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Fashion revolution: Secondhand style set to soar to 10% of market by 2025

The secondhand apparel market is poised for explosive growth, outpacing the broader fashion sector threefold, with an estimated value of $350 billion by 2028, making up 10% of the global fashion market by 2025.

Driven by factors like value, sustainability, and individuality, the sector expanded 15 times faster than retail clothing in 2023.

Asia’s market is set to lead this surge, reaching $150 billion by 2028.

Online platforms like Depop and ThredUp are key drivers, resonating strongly with Gen Z and Millennials who prioritize sustainability and unique fashion finds.

Brands are also embracing resale to showcase their sustainability efforts and connect with …

Source video: News 5 Cleveland on YouTube

Source image: jarmoluk / pixabay

Source: globaldata.com

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