GUATEMALA CITY – With the United States second hand apparel market expected to grow nine times faster than the regular clothing sector to hit $70 billion by 2027, a Guatemala-based company is set to expand from its traditional Central American base with the launch of a new reselling website in the US, effectively selling used clothing back to its original source..
The latest figures from US-based reselling giant ThredUp show that the global second hand market is expected to reach $350 billion by 2027 with 10% of the global apparel market made up of used goods by 2024. In the US alone, 75% of consumers have shopped or are open to shopping secondhand apparel, and one in three apparel items bought in the last 12 months was second hand.
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