The second-hand clothing market is booming. Retail Week looks at how some retailers are already taking advantage of this growing trend and why it’s important to get on board.
The word ‘sustainability’ is on the tip of everyone’s tongue, with protests on climate change becoming rife and the well-being of the planet and living in a circular economy high on the public’s agenda.
The fashion industry now accounts for more than 8% of global climate impact – more than international airline flights and maritime shipping trips combined – according to a report on the environmental impact of the clothing and footwear industries from sustainability strategist Quantis.
Shoppers are increasingly turning to the second-hand clothing market to get their fashion fix without the environmental impact of buying their clothing new.
According to resale platform ThredUp, the second-hand clothing market has been growing 21-times faster than new clothing over the past three years and is on track to be larger than fast fashion by 2028.
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