It’s no surprise that the secondhand apparel market is growing quickly, but the last year solidified its place as a significant shareholder in all of commerce.
ThredUp recently released their annual Resale Report, and there are some impressive statistics:
One in three apparel items bought in the last 12 months were secondhand.
Online resale in the US is expected to grow by 21% per year on average over the next five years.
37% of customers spent more on resale items than new items in the last year.
The future is bright for clothing resale, but the sneaker resale market outdoes clothing:
The current sneaker resale market is valued around $2 billion, and is expected to grow to $30 billion by 2030.
This exponential growth fares well for platforms like StockX, eBay, and resale stores.
Companies like Nike, Jordan, Adidas, New Balance, and Reebok will continue to give more attention to recommerce, and the platforms that the shoes are sold on will continue to grow.
We are excited to see and be a part of the sneaker resale industry growth.
Whether you are flipping a few pairs of shoes per year or own a resale shop, check out how Copyt can streamline your processes.