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thredUP Releases 10th Annual Resale Report with Insights on a Decade of Resale
- The 2022 Resale Report estimates that the U.S. secondhand market is projected to double by 2026, reaching $82 billion - A one-time special section exploring
About this update from Thredup Inc.
[{"type":"text","content":"- The 2022 Resale Report estimates that the U.S. secondhand market is projected to double by 2026, reaching $82 billion\n- A one-time special section exploring inflation's impact on purchasing behavior shows resale is a bright spot for the consumer\nOAKLAND, Calif., May 17, 2022 /PRNewswire/ -- thredUP (NASDAQ: TDUP), one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories, today released the results of the 2022 Resale Report. Conducted by third-party retail analytics firm GlobalData, the study serves as the most comprehensive measure of the secondhand market and includes global market sizing for the first time.\n\n \n \n \n \n \n \n\n \nThe U.S. secondhand market is expected to more than double by 2026, reaching $82 billion.The 10th annual study reveals that secondhand is becoming a global phenomenon led by North America, with the U.S. secondhand market estimated to more than double by 2026, reaching $82 billion. This year's study reveals new insights on the key factors driving market growth, why consumers are thinking secondhand first, and the rise of branded recommerce among retailers. It also includes a one-time special section exploring inflation's impact on the consumer and a 10-year anniversary lookback on the last decade in resale.\n\"The last 10 years of resale were dominated by marketplaces, but brands and retailers are driving the next wave of secondhand. We're still in the very beginning of this trend, but the acceleration of resale adoption is a positive signal with enormous benefits for the planet. This year's report proves that with the collective power of conscious consumers, resale marketplaces, and forward-thinking brands and retailers, we can pioneer a more sustainable future for the fashion industry.\" – James Reinhart, thredUP CEO & Co-Founder\nNotable findings from thredUP's 2022 Resale Report (all U.S. figures unless otherwise noted):\nSecondhand is becoming a global phenomenon, led by the U.S.\nThe global secondhand apparel market will grow 127% by 2026 – 3X faster than the global apparel market overall.The U.S. secondhand market is expected to more than double by 2026, reaching $82 billion.Secondhand saw record growth in 2021 at 32%.Resale is expected to grow 16 times faster than the broader retail clothing sector by 2026.Technology and online marketplaces are dri...