The circular economy gains momentum

Secondhand clothing is expected to make up $30.6 billion or 10% of all clothing sales in the US by the end of 2025, according to estimates by eMarketer and Insider Intelligence.

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Together, these projections signal an evolution in the fashion industry and perhaps a tempering of fast fashion. Fast fashion produces clothing quickly, often resulting in lesser quality, with consumers often throwing garments away after 10 wears, and continually buying new clothes.

The secondhand clothing market offers reuse of garments that last longer and can be resold multiple times. It’s an example of a circular economy in which there is less waste, a model that is gaining appeal among businesses with sustainability goals.

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Why is thrifting so popular?

Other highlights from the thredUP report include that three out of four consumers who shop secondhand identify as thrifters, believing that secondhand apparel is more socially acceptable now than it was five years ago.

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The top-cited reason to buy secondhand, across all generations, is to save money, with the fastest adopters being Gen Z, who say they also are buying to be more sustainable.

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