The global secondhand market is projected to reach $367 billion by 2029, with sales being driven by shoppers looking for better deals.
The integration of AI is also improving the thrifting experience, with 49% of consumers reporting that AI-enhanced personalization and improved search and discovery make the shopping experience easier.
In particular, thrifting is popular among younger customers, with 68% of younger generations between the ages of 18 and 44 shopping for secondhand apparel in 2024.
Within the past year, 39% of shoppers between the ages of 18 and 44 made a thrifted apparel purchase on social commerce platforms, and 62% of younger shoppers made a thrifted purchase on TikTok or TikTok Shop.
The recently announced tariffs have also impacted consumer and retailer behavior, with a reported 54% of retail executives stating that resale offers more stability amid the potential headwinds from tariffs.
Moving forward, 59% of shoppers plan to purchase more affordable secondhand options if apparel becomes more expensive due to additional tariffs.
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