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Fashion

Fast fashion in the slow lane: Secondhand market set to dominate by 2030

With more consumers prioritising sustainable clothing and reducing waste, Kate Ng takes a closer look at how secondhand marketplaces saw demand soar during lockdown

Wednesday 23 June 2021 16:21
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<p>Online marketplaces that focus on selling secondhand clothing have seen a surge in demand during the coronavirus lockdown</p>

Online marketplaces that focus on selling secondhand clothing have seen a surge in demand during the coronavirus lockdown

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With more people turning to secondhand apparel in an effort to cut fast fashion out of their lives, the US pre-loved clothing market is expected to grow to twice the size of the fast fashion industry by 2030, a new report estimates.

American resale marketplace ThredUP said in its latest annual resale report that 33 million consumers bought secondhand clothing for the first time in 2020, 76 per cent of whom plan to increase their spending on pre-owned items in the next five years.

The boom in sustainable fashion has been coming over the hill for some time; between Boris Johnson’s new wife Carrie Symonds jumping on the wedding dress rental bandwagon and fast fashion brands feeling the pinch as Generation Z customers gravitate towards more sustainable options, the pre-loved fashion industry has found itself speeding ahead of its throwaway rivals.

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