Second-hand Clothing Market Size, Share, Growth, and Industry Analysis, By Type (Luxury Brand, Fast-selling Brand and Others), By Application (Men, Women and Kids) and Regional Insights and forecast to 2032

Updated On: 10 June 2024

SECOND-HAND CLOTHING MARKET REPORT OVERVIEW

• 

• to learn more about this report

The global second-hand clothing market size expanded rapidly in 2022 and will grow substantially by 2028, exhibiting a prodigious CAGR during the forecast period.

Second-hand clothing, primarily denotes to as thrifted or vintage clothing, is clothing that has been already possessed and is being sold again. This sort of clothing can be found in different places, counting thrift stores, dispatch shops, online marketplaces, carport deals, and flea markets. Second-hand clothing is regularly much cheaper than buying unused dress, making it an appealing alternative for those on a budget or looking to spare cash. 

COVID-19 Impact: Market Growth was Drained Out in the Phase of COVID-19 with Shutdown of Manufacturing Facilities and Reduced Transportation

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

In 2020, numerous nations confronted strict lockdowns due to the COVID-19 widespread. These lockdowns have brought about in the fractional or total shutdown of fabricating offices. The shutdown of fabricating offices had a major effect on the utilization of materials. This led to decreased transportation coming about in an abating down of upgrading the railroad framework. In any case, with the ease of lockdown manufacturing segment is anticipated to return to its ordinary development.

LATEST TRENDS

"Online Thrifting with Designer Re-Sale to Shoot Up the Market Sales"

The notoriety of online stages for buying and offering second-hand clothing kept on rise. Websites and apps committed to thrift shopping advertised helpful access to a wide extend of pre-loved things, permitting customers to browse and buy from the consolation of their homes. High-end originator things sold on dispatch or through resale stages remained alluring among fashion-conscious shoppers. Obtaining pre-owned extravagance merchandise advertised both reasonableness and the opportunity to possess pined for designer pieces.

SECOND-HAND CLOTHING MARKET SEGMENTATION

• 

• to learn more about this report

By Type

Based on type the global market can be categorized into luxury brand, fast-selling brand and others.

• Luxury Brands: Second-hand luxury clothing refers to things from prestigious fashion hubs known for their high-quality craftsmanship, premium materials, and luxurious status.

• Fast-Selling Brands: Fast-fashion brands create in vogue, reasonable clothing collections that rapidly react to the most recent design patterns. Whereas these brands may not hold the same resale value as luxury names, their ubiquity and availability make them sought after within the second-hand market.

• Other Brands: In expansion to luxurious and fast-fashion brands, there are numerous other names and creators whose clothing is bought and sold second-hand. These brands may change in terms of cost point, fashion, and ubiquity but still pull in intrigued from thrifty customers and fashion devotees. 

By Application

Based on application the global market can be categorized into men, women and kids.

• Men: Second-hand clothing apps for men offer a wide choice of pre-owned clothing things custom fitted to men's fashion inclinations. Clients can discover everything from casual wear to formal clothing, including shirts, pants, coats, suits, and adornments. These apps regularly highlight well-known brands and originators, counting both extravagance names and reasonable alternatives, permitting men to get to an assortment of styles and cost focuses.

• Women: Second-hand clothing applications for ladies ordinarily offer a wide range of clothing, shoes, bags, and adornments designed for female clients. Women's second-hand clothing apps exhibit a assorted choice of styles, sizes, and brands, counting stylish design things, classic staples, and designer pieces.

• Kids: Second-hand clothing applications for kids cater to guardians and caregivers seeking out for reasonable and feasible clothing choices for children of all ages. These apps include a wide grouping of children's clothing, counting infant dress, little child wear, kids' attire, and high schooler design, covering different sizes, styles, and events.

DRIVING FACTORS

"90s Revival with Retro Print and Patterns to Grip Up the Market Sales"

Fashion trends from the 1990s remained powerful, with things like larger than average denim coats, wool shirts, mother pants, and realistic tees being prevalent choices. This period proceeded to motivate streetwear and casual design. Vintage-inspired prints and designs, such as flower, paisley, and geometric plans, made a comeback in second-hand fashion. These nostalgic themes included an unusual touch to clothing and adornments. 

"Numerous Advantages Connected with Used Clothes to Widen Up the Market Growth"

Rising environmental awareness among a critical portion of the around the world populace, as well as the various focal points associated with used dress, may give promising advancement possibilities for the worldwide used attire market over the evaluation period. The cost-effectiveness of utilized clothing is additionally a huge developing component for the segment. The expanded chances of utilized pieces of clothing among the low-income gather due to their reasonableness may serve as a development multiplier for the secondhand attire trade. Besides, the worldwide millennial populace is developing progressively cognizant of the significance of sustainability. As a result, these components may result in exponential development conceivable outcomes for the used dress sector.

RESTRAINING FACTORS

"Limited Size, Style and Lack of Warranty to Hold Back the Market Growth"

Second-hand clothing stores may have a constrained choice of sizes and styles, particularly for well- known things. Finding particular sizes or stylish pieces in great condition can be challenging, especially for people with non-standard body sorts or design preferences. Unlike unused clothing buys, second-hand clothing transactions frequently don't come with guarantees or return arrangements. Once a buy is made, it may be challenging to return or trade items if they don't fit or meet the buyer's desires. This need of response can hinder a few buyers from buying second-hand clothing, particularly in the event that they are dubious almost the fit or condition. However the factors constraining the second-hand clothing market growth are the limited style, size and lack of warranty.

SECOND-HAND CLOTHING MARKET REGIONAL INSIGHTS

• 

• to learn more about this report

"North America to Dominate the Market with Well Established Thrift Store and Online Resale Platforms"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

The North American second-hand clothing market share will grow at a fast pace over the anticipated period. Because of the region's rising demand for wellness and wellbeing following wearable attire, North America is anticipated to have the most prominent share of the second-hand clothing market over the estimate period. The United States and Canada have well-established thrift store systems and online resale stages, making second-hand clothing effectively open to customers. Cities like New York, Los Angeles, and Toronto have flourishing vintage and thrift shopping scenes, drawing in design devotees and deal seekers alike. The rise in R&D in smart clothing in terms of unused and improved innovations, as well as the developing desire for improved way of life, are the two key drivers driving the market in North America. 

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The market is essentially affected by key industry players that play a pivotal part in driving market flow and forming shopper inclinations. These key players have broad retail systems and online stages, giving customers with simply get to a wide assortment of closet choices.

List of Market Players Profiled

• ThredUP (U.S.)
• Poshmark (U.S.)
• The RealReal (U.S.)
• Tradesy (U.S.)
• Buffalo Exchange (U.S.)
• eBay (U.S.)
• Mercari (Japan)
• Alibaba Group (China)
• Vestiaire Collective (France)
• Asos Marketplace (U.K.)
• Etsy (U.S.)
• Vinted (Lithuania)
• Depop (U.K.)

INDUSTRIAL DEVELOPMENT

• January 2021: Poshmark went open, at a valuation of over USD 3 billion, recorded on the Nasdaq Stock Market under the image POSH. In October 2021, Poshmark declared it’s to begin with procurement, Softened cowhide One, a stage for checking the authenticity of shoes.
• February 2021: Poshmark reported its development to Australia as part of its procedure to drive long-term development through worldwide extension, beginning with English-speaking nations. It afterward extended into India. 

REPORT COVERAGE

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.