1 in 3 apparel items bought in the last 12 months was secondhand, and 2 in 5 items in Gen Z's closet are secondhand. 52% of consumers shopped secondhand apparel in 2022.Value is the #1 driver influencing purchasing decisions. consumers continue to embrace secondhand amid economic uncertainty and persistent inflation. secondhand market, expected to grow 21% annually on average over the next 5 years, reaching $38 billion by 2027. Online resale is the fastest-growing sector of the U.S.secondhand market is expected to reach $70 billion by 2027. The global secondhand market is set to nearly double by 2027, reaching $350 billion.In the U.S., online resale is driving the growth. Secondhand continues to take hold globally. The top five findings from thredUP's 2023 Resale Report include: The Fashion Footprint Calculator was inspired by the Resale Report finding that 63% of Gen Z and Millennials believe they can reduce their individual footprint. Results from the 2023 Resale Report informed the launch of thredUP's Fashion Footprint Calculator, an interactive tool aimed at empowering and educating consumers on the environmental impact of their fashion habits. It's clear we're on a promising trajectory, and by working together through collective action, we have the power to alter fashion's future for the better.' – James Reinhart, CEO, thredUP Resale is starting to blossom globally, with many of the largest retailers in the world adopting more circular business models value continues to be a key driver that motivates consumers to think secondhand first and at the same time, global climate issues have increased awareness of resale's potential to reduce fashion's impact on the environment. 'Now in its 11th year, the Resale Report has some of the most inspiring findings since we started the report in 2013. In addition, the report includes the top 20 most popular brands in resale. It also reveals new insights about key factors driving market growth consumer shopping behavior amid economic uncertainty and inflation, including younger generations' attitudes towards resale and why retailers are adopting resale at an accelerated rate, based on surveys of U.S. Conducted by third-party retail analytics firm GlobalData, the 11th annual study serves as the most comprehensive measure of the secondhand market globally and in the U.S., with forward-looking projections through 2032. OAKLAND, Calif., Ap/PRNewswire/ - thredUP (NASDAQ: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, today released the results of its 2023 Resale Report. secondhand apparel market is projected to reach $70 billion by 2027.

New study finds more than half of consumers shopped secondhand apparel in 2022 1 in 3 apparel items purchased in 2022 was secondhand.

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