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The second-hand market, the sector expected to reach 82 billion dollars in 2026

2024-02-07 10:32:19Lifestyle SHKRUAR NGA REDAKSIA VOX

The second-hand market, the sector expected to reach 82 billion dollars in 2026

According to GlobalData research, the global second-hand clothing market will grow 127% by 2026, 3 times faster than the clothing industry as a whole.

In the US, the growth of this particular industry reached 32% in 2021, an increase that will reach $82 billion by 2026. Reselling is a trend that has grown in recent years, as many consumers look for more economical options , ecological and original for their clothing. Around the world there are many shops and websites that sell used clothes by the kilo or by the piece, as well as platforms that allow the exchange or sale of clothes between individuals.

In an era where sustainability and recycling are emerging as fundamental values, consumers are more oriented towards alternative forms of consumption. Younger generations, such as Millennials and Gen Z, recognize the value of second-hand shopping, not only as an economical alternative, but also as a way to protect the environment.

According to recent research, 62% of young consumers prefer to do market research on used pieces before buying something new, not only to save money, but also to discover 'vintage' pieces that can express their personality. them in a unique and original way.

Indeed, buying second-hand clothes complies with the principles of the circular economy by helping to reduce waste and changing the way we perceive fashion. In addition, the ability to recycle clothes that have already been used makes the final cost of purchasing high fashion products much more consumer friendly.

Meanwhile, investors are responding to this growing demand by creating special platforms and stores that focus exclusively on the "second life" of clothing.

This market has benefited greatly from the rapid growth of e-commerce. It is no coincidence that online sales make up the largest part of the second-hand market, which confirms the conclusions of the above research, that is, that by 2026 the online market of used clothes will swell up to 4 times.

In particular, while online markets have so far dominated, in the coming years the baton will be taken by the big retail brands, which are returning one after the other to this sector as well, as well as fashion retailers in general.

The used clothing market is developing a parallel world of fashion, allowing masses of consumers to enjoy products from brands that were previously unaffordable. This is not just a trend, but a huge change in the way we approach fashion. Reselling allows consumers to express their style, save money and protect the environment.


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