Oxfam Ireland Homepage
  • 2 mins read time
  • Published: 6th August 2021
  • Blog by Christine Bale

Saying yes to SecondHand? You’re not the only one...

clothes in oxfam shop

Last year, 33 million people around the world bought second-hand clothes for the very first time –and more than three-quarters of those people plan to increase their spending on pre-loved items in the next five years –pretty incredible right?

The figures, released last month by ThredUp –the world’s largest fashion resale platform –also reveal that the second-hand market is expected to DOUBLE over the next five years.

It emerged that the resale sector grew during the pandemic and is now worth$36 billion. Moreover, the findings in ThredUp’s ninth annual Resale Report highlight that the second-hand market is expected to grow 11 times faster than the retail clothing business over the same period.

The report found that consumers’ values have changed since the pandemic began, driving new demand for second hand. One in three shoppers now care more about wearing sustainable apparel than pre-pandemic, 60 percent don’t want to waste money and 51 percent worry about environmental waste. Just one out of two shoppers reported to care more about getting a bargain.

And the report revealed that the circular economy is going mainstream, with shoppers and retailers eager for governments to incentivise resale.