SAN FRANCISCO – Results of research conducted by online thrift shop Thred Up say that the second-hand clothing market will grow to nearly 1.5x the size of fast fashion by 2028.
The Thred Up 2019 Resale Report says that in 2028, the second-hand market will be worth US$64 billion, in comparison to US$44 billion for fast fashion. As of 2018, fast fashion was worth US$35 billion and second-hand US$24 billion.
Since 2008, second-hand has seen a growth of US$15 billion, whereas fast fashion has seen a US$14 billion growth. However, the report predicts that fast fashion growth will stagnate within the next decade, whilst second-hand grows at a rapid pace.