ThredUp Inc., one of the largest online resale platforms for women’s and kids’ apparel, shoes, and accessories, today released the results of the 2021 Resale Report. The comprehensive study is conducted by third-party retail analytics firm GlobalData and serves as the most robust measure of the U.S. secondhand market. The ninth annual study, which surveyed 3,500 consumers, estimates that the secondhand market is projected to double in the next five years, reaching $77 billion. This year’s study reveals new insights on tailwinds propelling resale in the pandemic recovery and the role of government in accelerating the adoption of Circular Fashion. For the first time, the report also includes a thredUP Impact Section highlighting the company’s progress towards its mission to inspire a new generation of consumers to think secondhand first.
“We are in the early stages of a radical transformation in retail. Consumers are prioritizing sustainability, retailers are starting to embrace resale, and policymakers are getting on board with the circular economy. Pollutive industries have the power to transform when technological innovation collides with the motivations of consumers, businesses and government. We’ve seen it with electric cars and solar energy, and we believe circular fashion is next. With this year’s Resale Report, we hope to shine a light on the positive power of resale and create a catalyst for further collaboration and action across the industry.” – James Reinhart, Co-Founder and CEO, thredUP
Notable findings from the 2021 Resale Report reveal:
“As we emerge from the pandemic, the resale market is stronger than ever. Consumers are refreshing their closets and turning to resale as a way to sustainably discard garments and acquire new ones. Retailers recognize this shift, which is why so many of them are now looking to get into resale. These trends will make resale the most dynamic and fast-paced part of the apparel market over the next decade.” – Neil Saunders, Managing Director, GlobalData
To see the study’s full results, visit https://www.thredup.com/resale/.
About the 2021 Resale Report
thredUP’s Annual Resale Report contains research and data from GlobalData, a third-party retail analytics firm. GlobalData’s assessment of the secondhand market is determined through consumer surveys, retailer tracking, official public data, data sharing, store observation, and secondary sources. These inputs are used by analysts to model and calculate market sizes, channel sizes, and market shares. Further, for the purpose of this report, GlobalData conducted a March and April 2021 survey of 3,500 American adults over 18, asking specific questions about their behaviors and preferences for secondhand. thredUP’s Resale Report also leverages data from the following sources: Green Story Inc. research and internal thredUP customer and brand performance data. View all sources here.
Disclosure: All third-party brand names and logos appearing in this report are trademarks or registered trademarks of their respective holders. Any such appearance does not imply any affiliation with or endorsement of thredUP.
thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world’s largest resale platforms for women’s and kids’ apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. In 2018, we extended our platform with Resale-as-a-ServiceⓇ (RaaSⓇ), which facilitates modern resale for a number of the world’s leading brands and retailers. thredUP has processed over 125 million unique secondhand items from 35,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.