The fashion resale market is exploding, growing 21 times faster than the retail market over the past three years, according to research from retail analytics firm GlobalData.

Fortune Magazine
Total Secondhand Apparel Market to Double in 5 Years With Resale Sector Driving the Growth according to GlobalData.

“Compared to the overall apparel market, resale’s growth has been phenomenal. As the market uniquely meets consumers’ preference for variety, value, and sustainability, we expect the high growth to continue.”

– Neil Saunders, GlobalData Managing Director & Lead Market Analyst for thredUP’s Resale Report

Gen Z & Millennials love resale!

As resale grows at a higher rate of popularity among the younger generations, children’s resale will also grow in demand as they begin having children.

Also, Boomer’s second-hand spending might have grown less, but they already hold one of the highest market-shares (31%) for purchasers of used goods; Second only to Millennials (33%). This means a strong market of Grandparents and even Great-grandparents shopping for younger moms.