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Thrift stores and resale platforms are the two main types of used clothing stores. However, it is the latter that has been largely responsible for the recent rise. Secondhand clothing has traditionally been associated with being worn out and soiled, and is mostly sought after by bargain or treasure hunters.
This view has shifted, and many shoppers now believe that secondhand clothing is of equal or even higher quality than new clothing.
Purchasing old clothing rather than new garments helps to offset the carbon emissions produced by hazardous new clothing production. The second-hand clothes market also lessens the demand for new fabric production, which is critical for conserving resources like water and electricity. Furthermore, buying and selling secondhand clothing helps to keep outdated items out of landfills.
The US Second hand Clothing Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
Poshmark, a social shopping platform specializing in used clothing based in the United States, is expanding into the Indian domestic market. It has the potential to be a game-changer for the Indian online fashion industry.
However, they believe that Indian consumers have always been more concerned with sustainability than those in other markets. Poshmark, for example, delivers both value and a sustainable lifestyle.
Depop, a community-powered fashion shop, has been acquired by Etsy, a New York-based online marketplace. Depop is a resale marketplace based in London. Because younger consumers adopt second-hand fashion faster than any other demographic, and the bulk of Depop’s users are under the age of 26, Etsy feels Depop has a very distinctive position in the fast-growing resale industry.
