Business
thredUP Releases 'Thrift for the Holidays' Report, Revealing that New Waves of Consumers are Planning to Gift Secondhand This Year
The report finds that nearly 1 in 2 consumers are considering alternatives like thrift this holiday season in light of supply chain concerns; 52% of consumers
About this update from Thredup Inc.
[{"type":"text","content":"The report finds that nearly 1 in 2 consumers are considering alternatives like thrift this holiday season in light of supply chain concerns; 52% of consumers are concerned about rising prices of popular gifts, and 1 in 3 believe limited inventory will make it difficult to find gifts.\n As the gift of thrift gains traction, Gen Z is leading the way with 72% saying they're open to receiving a secondhand gift this year.\n\n\nOAKLAND, Calif., Nov. 16, 2021 /PRNewswire/ -- thredUP (NASDAQ: TDUP), one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories, today released a 'Thrift for the Holidays' Report conducted by third-party retail analytics firm GlobalData. The report, based on a survey of 2,000 U.S. consumers, demonstrates more consumers are turning to thrift as inflation and supply chain pressures weigh on shoppers in advance of Black Friday, and the stigma around secondhand gifts continues to dissipate. \n\n \n \n \n \n \n \n\n \nNearly 1 in 2 consumers are considering alternatives like thrift this holiday season in light of supply chain concerns.\"In a world where retailers have been forced to raise prices due to inflation or supply-chain pressures, consumers can always find a vast and ever-fresh selection of secondhand items on thredUP – 100% of which are already in stock and ready to ship. We've also been able to lower our average prices in order to engage as many consumers as possible and are humbled to be in a position where we can continue providing great brands at great prices during a time when many are feeling price pressure in other parts of their lives.\" – James Reinhart, Co-founder and CEO, thredUP\nNotable findings from thredUP's 'Thrift for the Holidays' Report reveal:\nSecondhand is a viable gift option amid inflation, supply-chain pressures:\n52% of consumers are concerned that popular gifts will be more expensive this year. 1 in 3 consumers believe limited inventory will make it difficult to find gifts this year. 53% plan to adjust their holiday shopping to account for shipping delays this year. As a result, nearly 1 in 2 (49%) consumers say they're considering alternatives like thrift.Consumers are more open to thrifted gifts as they seek better deals:\n62% of consumers believe buying secondhand apparel/fashion gifts is more socially acceptable now than 5 years ago. 66...