Secondhand apparel market worldwide 2021-2027

In 2022, the global market value of secondhand and resale apparel was estimated to be worth 177 billion U.S. dollars. This value is projected to rise rapidly in the coming years, almost doubling in size from 2022 to 2027, reaching a value of 351 billion dollars.

Generation Z

A lot of the growth in the second-hand apparel industry can be attributed to younger consumers. In a 2021 global survey, the generations most willing to buy second-hand apparel were Generation Z and millennials. It is seen as a cheaper and more environmentally friendly way to purchase clothes, both topics which are especially relevant to younger consumers. The reduced prices of second-hand apparel also make clothes which would otherwise be too expensive more accessible. This had led to growth in the personal luxury goods second-hand market.

Online platforms

One popular way that younger generations buy their second-hand clothes is via smartphone apps, which give shoppers greater choice and convenience. Depop registered 354,000 monthly downloads worldwide in December 2022, although this was considerably lower than the figure in 2020. Of course, many people still buy second-hand clothes from thrift shops.

Secondhand apparel market value worldwide from 2021 to 2027 (in billion U.S. dollars)

Characteristic	Market value in billion U.S. dollars
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Release date

April 2023

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Region

Worldwide

Survey time period

January 2023

Supplementary notes

GlobalData’s assessment of the secondhand market is determined through ongoing retailer tracking, official public data, data sharing, store observation, consumers surveys, and secondary sources. These inputs are used by analysts to model and calculate market sizes, channel sizes, and market shares. The analysis for this report was carried out in January 2023.

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