Inflation Is Helping Drive a Boom in Secondhand Shopping
Sales of secondhand clothes, shoes and accessories jumped 28% in 2022 from the previous year, according to a new report.
Workers categorize clothing at the ThredUP warehouse in San Leandro, California.
Photographer: Liz Hafalia/The San Francisco Chronicle/Getty ImagesA growing number of people are buying used clothing, shoes and accessories, propelling the secondhand industry to $177 billion in global sales last year, according to a new report from online thrift marketplace ThredUp Inc.
That marks a 28% increase over 2021, thanks to surging inflation, more retailers developing curated secondhand or “resale” offerings, plus increased awareness of sustainable shopping habits. Additional growth is coming, too: The ThredUp report, which relies on research and data from third-party retail analytics firm GlobalData, predicts the secondhand industry will practically double to $351 billion in global sales by 2027.