Global secondhand market to reach USD 350 billion by 2027, ThredUp says
What: ThredUp released is 11th resale report, revealing that the global secondhand market is set to nearly double by 2027, reaching USD 350 billion.
Why it is important: The report’s global findings prove that resale is a mainstay of consumer retail and consumers are increasingly seeking out and participating in the secondhand market.
For retailers, resale often drives ROI and investor approval in many cases. Around 58% of retail executives consider resale “table stakes”, a six-point increase from 2021.
Additionally, 86% of retail executives state their customers are already participating in resale, up 8 percentage points from 2021.
In 2022, 88 brands launched dedicated resale programs, a 244% increase from 2021.
Global Secondhand Market to reach USD 350 billion by 2027, ThredUp says
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