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Secondhand Grew 15X Faster than New Apparel Sales in 2023, but ThredUp CEO Still Sees Ample ‘White Space’

Retail TouchPoints

But as ThredUp ’s 12th annual Resale Report shows, the need for a hard sell is over — consumers of all ages have clearly bought into the idea, with secondhand apparel sales growing 15X faster than the broader retail clothing sector in 2023. In the U.S. In the U.S.

Apparel 278
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To Speed Expansion, Resale Marketplace GoodwillFinds adds Walmart, Office Depot Execs to C-Suite

Retail TouchPoints

GoodwillFinds — the new resale marketplace from nonprofit thrift store chain Goodwill — has added two retail veterans to its C-suite and onboarded three new Goodwill member organizations (representing more than 50 retail stores) to the platform. like Air Jordans,” Kaness shared in an interview with Retail TouchPoints. “So

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What Recommerce can Teach Retailers About New Consumer Behaviors and Future-Proofing Sales

Retail TouchPoints

The resale market is growing 11 times faster than traditional retail and is expected to reach $84 billion by 2030, far eclipsing the predicted $40 billion market for fast fashion. . In fact, apparel resale revenues are growing 24 times faster than retail apparel sales. . Understanding the Resale Phenomenon.

Consumer 325
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The rise of second-hand shopping in Australia: A cultural and economic shift

Inside Retail

Unlike conventional retail, where stock is predictable and replenished regularly, thrift stores and resale platforms offer the sense of adventure and unpredictability. The second-hand apparel market in Australia is predicted to grow from $578.10 million in 2023 to an estimated $1,598.37

Shopping 130
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Immersive Queen store opens on Carnaby Street

Retail Focus

The ‘Queen The Greatest’ store will take visitors on a journey over 2 floors, from 70s thrift store (Freddie and Roger had a stall in Kensington Market), 80s iconic live performances and tours, 90s record store, 00s DVD homage through to 2010s tech concepts. Doug Peters/PA Wire. Doug Peters/PA Wire.

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Study: Resale to Hit $47B by 2025, Giving Fast Fashion a Run for its Money

Retail TouchPoints

While the pandemic had a chilling effect on apparel sales as a whole, the resale sector was blazing hot: it grew 29% in 2020 to capture $9 billion in U.S. That growth rate looks likely to continue, with the overall secondhand market projected to double in the next five years, reaching $77 billion in annual sales by 2025.

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Gen Z, in Their Own Words: What They Really Want from Brands and Retailers

Retail TouchPoints

Authenticity has become a marketing buzzword in its own right, but members of the Z Suite agreed that they want to feel emotionally connected to brands they buy from. They also want to feel represented in marketing materials and even in product design. With Allie, it was a no brainer.” With Allie, it was a no brainer.”

Consumer 328