Where Data Tells the Story
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The gross merchandise value (GMV) of the secondhand clothing market in the U.S., based on data from ThredUp.
GMV measures the value of merchandise sold through a customer-to-customer (C2C) exchange such as Etsy or Facebook Marketplace.
Used apparel sales are growing at a healthy rate year over year, and could reach $73B by 2028.
Growing sales of used clothing could be a sign of shifting consumer preferences post-pandemic.
One factor could be high inflation, which might be pushing consumers to save money on clothing spending. It could also be driving people to sell items they no longer wear to earn some extra cash.
Another factor could be the shift towards a more circular apparel economy. Buying and selling secondhand clothing increases the lifespan of items and reduces waste.