Insight

Second hand apparel market to double in the US

Luftkuss Atelier

According to the latest reports, almost stagnation of clothing prices in the USA in recent years has brought the core inflation rate down. Reports show that 98% of the US clothing market consists of imported products, and the US ready-to-wear production has decreased by 83% since 1995. 

We see that the fashion industry has entered a much more sustainable path after the pandemic. There is no doubt that the second-hand market in the fashion industry is growing very quickly, thanks to online sales and digital initiatives.

US apparel comes largely from China, and now other Asian countries such as Vietnam, where labor and production costs are lower, and even Sahara Africa. 

Consumers under the age of 25, who make up 12% of their ready-to-wear consumption, spend 20% less compared to 2 years ago.  

The unemployment rate among young people, which has increased in recent years, stands out as one of the factors that reduce the consumption of ready-made clothing.

The second-hand fashion trend is not only a change in the product purchasing process, but also a phenomenon that allows one to remember how valuable the norms that stand against the rapid aging of fashion are.

Resale, vintage and second-hand trends are not really new concepts. However, online platforms that offer a hybrid approach with rapidly developing technology in the last decade have created a large customer base in the second-hand fashion market. 

The second-hand clothing trend has especially taken a solid place in the market as an affordable and sustainable alternative, especially after Covid-19. According to reports, the second-hand fashion market, which is expected to be twice the size of fast fashion by 2030, will grow much faster than traditional retail in the next 10 years. 

Insprad Creative Agency

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