The US resale market is expected to reach $77 billion in the next five years!

The resale market has developed rapidly in recent years. According to the latest data from GlobalData, the US resale market will reach US$77 billion by 2026. In addition, 76% of new buyers will choose to buy second-hand clothing online, and the resale market will be twice the size of fast fashion clothing in 2030, which provides an opportunity for sellers to develop new markets.

Speaking of resale platforms, ThredUP can be regarded as a giant in the US resale market. ThredUP launched its sales business globally in 2017. Its products cover 90% of offline products such as clothing, shoes, hats, handbags, etc., and it has more than 30,000 brands cooperating with it. Under the trend dominated by fast fashion, the resale market still maintains a strong development momentum.

In addition to ThredUP, Poshmark is also one of the important resale platforms in the United States. Poshmark was founded in California in 2011. Its operating model is different from that of ordinary e-commerce platforms. It is quite similar to the domestic "Xianyu" platform and is a social e-commerce platform. According to statistics, its users spend an average of 25 minutes browsing the platform every day. The platform has more than 5,000 brands and more than 1.5 million sellers. Last year, the company also received a round D financing worth US$87.5 million, and its market prospects are optimistic by industry insiders.

The rapid development of the resale market in recent years is largely due to the change in consumer consumption concepts. In this survey, 51% of consumers expressed opposition to environmental waste. In recent years, environmental problems such as extreme weather and natural disasters have made consumers aware of the importance of environmental protection. As a result, resale platforms developed under the concept of environmental protection have naturally become the focus of consumer attention.

Resale platforms are not only favored by consumers, but also favored by many e-commerce platforms. According to a survey by GlobalData, 62% of retail executives said that their buyers are already buying resale clothing, so they will also focus on and invest in the future (some retailers and platforms have already started to take action).

With such a huge potential market, it is not a bad idea for sellers to consider it as an alternative option when developing new markets.

USA

Resale Market

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