This is a positive indication that the demand for second-hand clothing is increasing and this demand is increasing mainly among the youth. Environmentalists, Scientist, bigwigs, and social groups say the growing demand for second-hand clothing is good news for the planet. In this way, a large number of recycling opportunities are being created. The demand for this type of clothing is much higher in America than in Europe. According to a recent survey, by 2026, the second-hand clothing market will grow by 128%, more than three times the retail apparel market. The second-hand clothing market in the United States could reach 72 billion in the next five years.
Is this demand of young people for second-hand clothing due to environmental awareness? No, the bigger reason is the financial aspect. The global economic crisis caused by the Corona epidemic has directly affected the retail market. On the one hand, the price of clothes has gone up and on the other hand, the regular income of the common man has been affected.
The survey found that 56% of apparel buyers say second-hand shopping is relieving them of inflation. Again, 82% of young people say they like to check out old clothes before buying new ones.
Retail tech news, charged, says online resale is now the fastest growing sector for second-hand clothing, which could quadruple its market by 2026.
Market experts say that this trend of second-hand clothing is still in its infancy but there is no doubt that its demand and market will increase a lot in the future.