Online consignment and thrift store ThredUp recently released their 2022 Resale Report, which focuses on the resale of apparel.
The key finding is that the U.S. resale apparel market is expected to double over the next 5 years (click on the report chart below to enlarge).
ThredUp, who produced this forecast, is hardly an unbiased source.
But resale sales are currently booming, and second-hand goods sales were growing before the pandemic.
Also, the trends driving the growth - sustainability, reduced costs, an opportunity to make money - continue to be strong. And added to these are inflation and ongoing supply chain issues, both of which make second-hand goods even more attractive.
So doubling over the next five years seems like a reasonable forecast to us.
Another indication that the growth forecast is reasonable is that many traditional retailers, including LuLu Lemon and Ikea, are launching resale programs.
Sales of second-hand goods is a popular activity for many independent workers. The report claims 73 million Americans sold second-hand goods in 2021.
Most of these folks don't see this activity as a business. But many do, and many more are likely to join them in the coming years.
