The rise of resale: market size and growth In the last three years, the growth of the second-hand trade has been no less than 21 times higher than that of the fashion sector. Let’s see some data about this booming market: In 2023, it is estimat that the second-hand market will reach 51,000 million dollars . Of this amount, 28,000 million will correspond to donations sold by charitable organizations and 23,000 to resale or resale. Which was practically non-existent in 2013. recommerce or second-hand trade In 2018 there were 56 million women who bought second-hand items or were willing to do so (64% of the US market).
In 2016, this figure was 44 million (45% of the market), so the growth trend is evident
Second-hand buyers are spread across all age groups : 16% belong to Generation Z (18 to 24 years old), 33% are millennials (25 to 37 years old), 20% were born Australian Email Lists within Generation X (38 to 55 years old) and the remaining 31% are boomers (55 years and older). Despite this even distribution. The pace of adoption is quite different. The greatest growth occurs among members of Generation Z (46% more between 2017 and 2019) and millennials (with an increase of 37%).
From buyers of luxury fashion (26% of them buy second-hand) to customers of the cheapest stores such as Walmart and Target (22% buy second-hand).
Behind the second-hand digital commerce revolution . We find a series of innovations and new technologies. First of all. Re-commerce firms like thredUP offer a series of facilities so that TR Numbers consumers can resell their garments. Second. Data science-base algorithms automatically assign the right prices to each item. Automation allows hundrs of thousands of garments to be properly process. Photograph and sort every day. And finally. Mobile apps and marketing personalization have made buying use clothes as easy as buying new ones. recommerce or second-hand trade 2 Consumer trends driving re-commerce growth The massive growth of second-hand digital commerce can be explained by a series of trends and characteristics that define today’s consumer.
