The apparel resale market has shown rapid expansion, growing from $163.13 billion in 2023 to $181.40 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. This growth has been fueled by the rise of digital platforms for resale, increasing disposable incomes, the demand for affordable luxury brands, the popularity of eco-friendly fashion, and the growth of online payment security. Moving forward, the apparel resale market is expected to grow to $281.70 billion by 2028, with a CAGR of 11.6%. This forecasted growth is attributed to the rising use of digital wardrobes and closets, increasing urbanization, demand for unique and vintage clothing items, a growing middle-class population, and increasing cross-border trade. Key trends in this period will include technological advancements, the integration of augmented reality (AR), blockchain technology, mobile payment solutions, and eco-friendly packaging.
Global Apparel Resale Market Key Driver
The growing e-commerce platforms are expected to propel the growth of the apparel resale market going forward. E-commerce platforms are online systems that enable businesses and individuals to buy and sell goods and services over the Internet, providing tools for transaction management, inventory control, and customer engagement. The growth of e-commerce platforms is due to the growing adoption of online shopping, advancements in digital technology, and the expanding reach of Internet access. E-commerce platforms provide a global reach, allowing sellers to access a wider audience beyond their local geographic area. This increased visibility enables resale items to reach buyers needing access to physical resale stores. For instance, in May 2024, according to the United States Census Bureau, a US-based government organization, the U.S. retail e-commerce sales for the first quarter of 2024 reached $289.2 billion, reflecting a 2.1% (±0.7%) increase compared to the fourth quarter of 2023. Therefore, the growing e-commerce platforms are driving the growth of the apparel resale market, with robust growth projected through 2024 and continuing through 2028.
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Global Apparel Resale Market Segments
The apparel resale market covered in this report is segmented –
1) By Type: Dresses And Tops, Shirts And T Shirts, Sweaters, Coats And Jackets, Jeans And Pants, Other Types
2) By Sector: Resale, Traditional Thrift Stores And Donations
3) By Consumer Group: Men, Women, Children
4) By Sales Channel: Wholesalers Or Distributors, Hypermarkets Or Supermarkets, Multi Brand Stores, Independent Small Stores, Departmental Stores, Online Retailers, Other Sales Channels
By Geography:The regions covered in the apparel resale market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the apparel resale market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Apparel Resale Industry Players
Walmart Inc., Alibaba Group, H&M Hennes & Mauritz Retail Pvt Ltd., eBay Inc., Flipkart Internet Pvt Ltd., SHEIN, ZARA, Mercari, The RealReal, Poshmark, Thredup Inc., Meesho, StockX LLC, Vinted Inc., Remix Global AD, Buffalo Exchange, A&E Clothing, Sellpy, Ajio, Shelter, Vogue, Chikatex, Micolet, Aristobrat, Thrift+, YnFx
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Apparel Resale Market Overview
Apparel resale is the process of buying and selling pre-owned clothing and accessories. It involves the exchange of used or second-hand garments through various channels, such as consignment stores, thrift shops, online marketplaces, and specialty resale platforms.
Apparel Resale Global Market Report 2023 provides data on the global apparel resale market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The apparel resale market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
