The apparel resale industry has seen some significant growth since 2017. Largely sparked by awareness of environmental damages and the growth of platforms like Poshmark, eBay, Depop, Mercari, etc., many more eyes have turned to reusing and reselling clothing. But, now that people have become aware of their environmental footprints, what is the future of apparel resale? Will it slow down or continue growing?
In short, many people think resale is going to continue growing very quickly. 33% of all clothing purchases in 2022 were resale, meaning used or through a third-party retailer (Poshmark, for example). That percentage has been growing for a long time, and especially quickly in the last decade. But, that raises one big question, if resale continues to grow, what will that growth look like?
There will absolutely be typical growth the way your thinking: Growth of platforms like eBay where one person sells to another no matter the product or the condition of it (could be new Jordan 4 Pine Greens reselling, old t-shirts, or even your grandma’s old ping pong table). Aside from that, though, there will be growth in other types of reselling, and we will highlight two: Overseas and sneakers.
Huh?
The world is growing, and most of the new population is from countries in Asia and Africa. Lots of these countries are not very wealthy and don’t have the same clothing at their disposal as Americans. As environmental awareness continues to grow, clothes could completely stop being put in the trash and start being sent overseas. Think Goodwill, but bigger, and you may get paid. This will eliminate waste and lengthen the life of all your clothes.
Sneaker resale will also continue to grow everywhere. As the world becomes more modern and connected by technology, more people will care about their outfits and want to buy shoes that are reselling. This is a great sign for companies like Goat and StockX, and a huge opportunity to grow for resellers. Sneaker resale stores are popping up quickly right now in nearly every U.S. city.
Overall, assuming resale continues to grow, the future of apparel resale is very positive. Whether in used clothes or sneakers, there has never been a better time to get started or to continue to grow your operation.
Mateo Moyon