Apparel Resale Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation

Apparel Resale Market Overview:

Apparel resale is the buying and selling of previously owned clothing and fashion items. Apparel resale market services are driven by the continuous evolution of fashion with advancements.

 

The dynamic environment positions the Apparel resale market as a vital contributor to the fashion industry competitively globally. The apparel resale market is driven by increased consumer demand for sustainable fashion, the rising trend of value-conscious shopping, and digitalization facilitating ease of access and transactions. With a growing emphasis on sustainability initiatives by key industry players, the market presents ample opportunities and innovation in the years to come.

 

Moreover, globalization is a factor driving fashion market development with the availability of the brands at the international level. As this is a resale market, the cost of manufacturing is saved which also saves production costs and makes the market more profitable. A rise in online buying habits has offered opportunities for Apparel resale proprietors to sell used apparel. The apparel resale market was dominated by North America Region followed by Europe and Asia Pacific Regions.

 

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Apparel Resale Market Dynamics:

The product Lifecycle of the branded apparel increases as resaling platforms grow the market.

Many brands encourage Apparel resale to increase their product Lifecycle. For example, Gucci has a portal on its site for used apparel to make everyone inclusive of fashion at a reasonable rate. The Gucci brand has various apparel products to wear and choose from without losing its brand value in the market. The vendor trades of general clothing on digital platforms like Tradesy and Poshmark are being encouraged by increased consumer demand in shops.

 

The digital resale is emerging as the next major fashion trend. As a platform for the distribution of luxury brands' products, resellers are searching for B2B partnerships and business associations. A digital marketplace for authorized luxury consignment by The RealReal and the Vestiaire companies from which customers purchase and sell designer brands like Hermes, Chanel, and Louis Vuitton. The commission is provided to the sellers and vendors by platforms that incentivize the process of selling in the apparel resale market.

 

Integration of Apparel Resale Market with Circular Economy

The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products as long as possible. The authentication and trust increase with more and more inclusion by middle-class and lower-class people for the used apparel. Many platforms are AI-driven with personalization by apparel resale platforms. Many brands play a pivotal role in shaping more responsible and inclusive fashion consumption. Growing environmental consciousness propels the apparel resale market. Consumers favor sustainable fashion which ultimately reduces waste. Economic factors drive the apparel resale market as consumers seek affordable yet quality clothing. This trend contributes to the projected growth in the global apparel resale market by 2030.

 

The Rise of Vintage Clothing Driving Market Growth through Sustainability and Style

Vintage clothing has escalated the market growth owing to its durability, and versatile offer by the fashion industry has propelled the market growth. An increasing number of people prefer to buy used apparel clothing as more people are embracing vintage clothing. As vintage clothing is often durable compared to modern clothes, which are made of synthetic materials, vintage clothing is often made from natural materials. Apparel resale market clothing shops are gradually becoming fashion heaven for more consumers especially with the advent of the Internet with several e-commerce platforms embracing technology into everyday living. Many classic celebrities have promoted this fashion of vintage clothes by social media.

 

Consumer Perceptions & Lack of Apparel Sizes for Clothes, Shoes and Garments:

Consumers who are interested in buying used apparel are still facing challenges of not getting fitting sizes for their own and kids. The perception that pre-owned items are less desirable or of lower quality than new ones can divert some potential buyers from participating in the apparel resale market. Teenagers are mostly supposed to buy to save money and to have trending fashion.

 

Apparel Resale Market Segment Analysis:

By Sector: The apparel resale market segmentation, based on sector, includes resale and traditional thrift stores & donations. The resale segment held the largest market share in 2023. This is explained by the fact that e-commerce is becoming more and more popular with customers of all ages. The majority of Millennials and Gen-Z favors online retailing platforms over conventional brick-and-mortar businesses for resale. This segment's dominance is propelled by the versatility and timeless appeal of dresses and tops, which resonate well with consumers seeking diverse styles. This can be due to the growing acceptance of used clothing, particularly among women, worldwide.

By Target Population: The apparel resale market segmentation, based on the target population, includes men, women, and kids. The women segment dominated the apparel resale market in 2023. As women continue to provide bargains and make more of an attempt to cut costs, they are increasingly resorting to resale websites. Since used clothing is less expensive than new clothing, ladies can manage to get higher-quality items without having to spend a lot of money. Also, Kids' clothes were bought by the ladies to keep them updated with trending fashion. Hence, the Kids segment is second dominated. Men tend to shop less for the latest trends than women. So, they lack the market share in the targeted population.

Apparel Resale Market Regional Analysis:

The North American region dominated the Apparel Resale Market in 2023 with XX CAGR. One of the main causes of propelling growth in the U.S. apparel resale garment market is the increasing number of conscientious customers. North America is home to a vibrant influencer culture and a strong presence on social media platforms. Many influencers and celebrities promote sustainable fashion and endorse the Apparel Resale Market to their followers. Their influence has played a crucial role in increasing awareness and acceptance of the market.

 

The U.S. apparel resale market held the largest market share, and the Canada apparel resale market was the fastest growing market in the region mostly because of sustainable fashion. ThredUp is one of the largest online resale platforms in North America. It offers a wide selection of pre-owned clothing for women, men, and children, ranging from popular brands to luxury labels. ThredUp also provides a convenient selling process for individuals looking to declutter their closets.

 

The European and East Asian countries with substantial middle classes are the biggest exporters of used clothing, while the biggest importers are poorer countries, especially in South Asia, Southeast Asia, and Africa. With most of the Donations and the charities Europe is expected to grow after the North America Region for apparel resale market.

 

 

Apparel Resale Market Competitive Landscape:

Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Apparel Resale Market must offer cost-effective items.

 

Market Leaders in Apparel Resale:

ThredUp is one of the largest online resale platforms which offers a wide range of apparel resale market, accessories, and shoes. It operates on a consignment model and has expanded its reach through partnerships with retailers like Macy’s.

 

Poshmark is known for its social commerce model, allows individuals to buy and sell new or used clothing, shoes, and accessories directly from each other. It fosters community engagement through sharing and liking items.

 

Initially a general resale marketplace, Mercari has gained traction in apparel resale due to its easy-to-use platform and broad user base. It offers a range of clothing options at various price points. A longstanding player in online auctions and sales.

 

eBay remains a significant platform for apparel resale. It offers both auction-style and fixed-price listings, appealing to a wide range of sellers and buyers Known for its user-friendly interface and focus on luxury and designer items.

 

Emerging Players in Apparel Resale:

Rebag Company Specializes in luxury handbag resale, offering a curated selection of authenticated designer bags through both online and physical stores.

 

Refashioner focuses on curated vintage and designer clothing, providing a platform for unique and high-quality apparel fashion items.

 

Swap.com Offers a wide range of secondhand apparel, including clothing for men, women, and children, operating on a consignment model similar to ThredUp.

 

Apparel Resale Market Scope:

Apparel Resale Market
Market Size in 2023	USD 72.52 Bn.
Market Size in 2030	USD 184.49 Bn.
CAGR (2024(2030)	14.27 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Apparel Resale Market Segmentation:	By Product Type Dresses & Tops Shirts & T-Shirts Sweaters, Coats & Jackets Jeans & Pants Others
	By Apparel Sector Resale Traditional Thrift Stores & Donations
	By Target Population Men Women Kids
	By Sales Channel Wholesalers/Distributors Hypermarkets/Supermarkets Multi-brand Stores Independent Small Stores Departmental Stores Online Retailers Other Sales Channel

 

Apparel Resale Market by Region:

North America (United States, Canada, and Mexico)

Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe)

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC)

Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A)

South America (Brazil, Argentina Rest of South America)

 

Apparel Resale Market Key Players:

1. Thredup Inc. (USA)
2. The RealReal (USA)
3. Poshmark (USA)
4. A&E Used Clothing Wholesale (USA)
5. EBay Inc. (USA)
6. Mobacotex (Spain)
7. Tradesy (USA)
8. StockX (USA)
9. Macy (USA)
10. Mercari (USA)
11. Rebag Company (USA)
12. Refashioner (USA)
13. Swap.com (USA)
14. HunTex Recycling Kft (Hungary)
15. British Used Clothing Company (UK)
16. Depop (UK)
17. Vinted (UK)
18. Micolet (Spain)
19. Percentil Maroc (Spain)
20. Thrift+ (UK)
21. Chikatex (Spain)