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Thursday, 5 April 2018

Second hand clothes are going mainstream

Second hand clothes have not only shed their grimy reputation — they’re actually going mainstream, according to a recent report by from second hand clothes retailer ThredUp. Last year, 44 mn women shopped second hand (which they fondly call resale), up 9 mn from 2016. The average annual growth rate for the segment is 15%, far higher than the 2% for average clothing retail. The second hand business is projected to double to USD 41 bn in five years from USD 20 bn. And it goes beyond simple affordability, which is already offered by off-price retailers. It appears the thrill of the treasure hunt for that gem item at affordable prices is what’s driving the growth, according to Forbes.

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