The coronavirus pandemic has accelerated a move to ecommerce across all industries—and secondhand clothing is no exception, according to a report released today by ThredUp.
Online resale is expected to grow by 23% this year, the report said, and the category is predicted to overtake the traditional thrift and donation segment by 2024.
As the world’s largest online resale website, ThredUp was seeing impressive growth prior to the pandemic, especially among Gen Z and millennial consumers concerned with the sustainability of their purchases. But as Covid-19 upended the world of retail and created a more uncertain economy for shoppers, there was some question as to whether climate change would slip to a lower spot on consumers’ list of priorities.
Gen Z is the most likely category of consumer to buy secondhand clothing.