Just as the discerning pothead doesn't limit her consumption to 4/20, one shouldn't consider the ecological impact of fashion only on Earth Day. And, according to a new report, shoppers are increasingly embracing one of our favorite ways to reduce clothing production (and make some cash from an overstuffed closet while they're at it) — secondhand buying and selling.
According to ThredUP's third annual Resale Report, "resale businesses represent one of the fastest-growing retail segments, with stores increasing by 7% annually." Meanwhile, Americans make about 30% of their total purchases secondhand, including in thrift and consignment stores. Investors are clearly taking note of the opportunity, especially online. In 2014, "venture capital firms invested over $100 million in the online consignment industry," the report says — that's up from just $40 million invested in 2013.
This, of course, is good news for those of us with a closet to prune. So, which labels fetch the best value on the resale market? It can vary from site to site, but ThredUP finds that its most-searched brands include Anthropologie, Zara, J.Crew, The North Face, and Athleta. Meanwhile, its fastest-selling brand is lululemon, which typically sits on the site no longer than eight days. Comforting to realize that not everyone in your yoga class actually has $100 lying around for the pants they downward dog in.
There's a lot more info in the report, which you can read in full here — including which brands are available at the deepest discount for secondhand shoppers. You know, just in case your post-Marie Kondo closet looks a little bare.
AdvertisementADVERTISEMENT