thredUP

In the US alone, the secondhand fashion market could grow 20% between 2020 and 2025 to reach $67 billion in size, according to estimates by Business of Fashion Insights.

In 2021, the British Fashion Council’s Institute of Positive Fashion addressed the impact of the fashion industry. Their top key target outcome? Reduce the volume of new physical clothing.

Thanks to increased consumer consciousness around sustainability, the circular economy, and fair labor, resale has become fashion’s hottest sector—and brands want in. But scaling and making resale profitable isn’t easy, and with increasing competition in the space, it’s only going to get harder. 

If e-commerce took away the need to go to a physical store to browse, try on and buy clothes, social commerce removes the need to permanently own them. The total resale market is expected to double in value to $51 billion in the next five years, according to a report from ThredUp. Traditional retail operates on product newness and seasonality. In c... See more