The Future of the Secondhand Industry

Written by Cady Ghandour | Designed by Tamar Ponte | Photographed by Mohan Ge

“Thanks, it’s vintage.” Perhaps the most satisfying and 21st century response to a compliment on an outfit. After all, when you buy a vintage piece, it comes with an unspoken guarantee that you won’t walk into a crowd and think you’re seeing your reflection in every other person. You certainly won’t see half your closet as you’re scrolling through your Instagram feed. Wearing “second hand” has become a stamp of boldness and flare—it makes you “different.” You’re not just any other fast fashion consumer buying your wardrobe from Zara and H&M, or Shein and Princess Polly. Thrifted clothing has evolved from something with a stigma of embarrassment, to a badge of honor, an unique outfit. Not only have people begun to realize the prestige of thrifted finds, but the shift in society’s view of thrifting has resulted in the secondhand fashion industry evolving completely.

The secondhand apparel market has many facets. Not only does it consist of the household name “Goodwill” and “Savers” stores, but also boutiques and flea markets selling pre-loved clothing, furniture, house-décor, accessories, collectible coins and just about anything else. The origin story of these organizations, understandably, is for those who require more affordable options for shopping. Their low costs meant they provided options for people of lower socio-economic groups who couldn’t necessarily frequent malls on shopping sprees. However, with the influence of social media popularizing influencers and thrifting content, any frequent thrifter would know that groups of teens looking for trendy items are frequently found in thrift stores. The reasons behind this doesn’t just stem back to celebrities such as Sarah Jessica Parker and Julia Roberts being open about their love for thrifting, but also the increasing awareness of climate change and the emphasis on the importance of sustainability.

“36 Billion Clothing Items are thrown away annually. 95% of which could be reused or recycled.” These statistics awaken millennials and Gen Z to the climate change issue, which is another incentive for us to buy second hand. According to a report conducted by ThredUp, “thrifting displaces 82% of an item’s carbon footprint, eliminating roughly 17.4 lbs of CO2 emissions.” Young people in today’s world have a growing attitude of environmental consciousness, which can be seen in where we choose to spend our money, thus the turn to thrifting. Among the many after-effects of the pandemic is “1 in 3 consumers care more about wearing sustainable apparel than before.” Thrifting appeals to the modern young consumer because not only does it allow them to save money and dress uniquely, but it also aligns with environmental ethics, giving new life to a product.

Alongside the rise in sales of thrifting as an affordable and sustainable option to shopping, it is true that not everyone who buys secondhand is looking to limit their spending. “Luxury vintage” has grown exponentially. Stores such as The Real Real, What Goes Around Comes Around, and Sami Miron Vintages’ have gained popularity—frequent customers include Bella Hadid, Kim Kardashian, Kendall Jenner, Madonna, and others. At a store like The Real Real, customers can sell and buy luxury items, for example pre-loved Chanel and Dior, for reduced prices, making designer items more accessible. Other luxury secondhand stores rework items to create trendy handmade pieces. Usually, customers of luxury vintage stores are in search of true one-of-a-kind pieces, and to stand out.

As an industry, secondhand fashion is set to be valued at $64 billion by 2025, surpassing fast fashion which is set to be valued at $38 billion in 2023. Not only are websites like Poshmark and Depop making selling and buying secondhand accessible from anywhere by adding technology to the mix, but major conglomerates such as H&M are catching onto the trend. Just last year H&M launched H&M Rewear, an online resale platform where people can buy and sell items from any brand. Looking forward, any entity in retail is going to try to keep up with the times by adopting some kind of sustainability motive. Today’s conscious consumers are not just looking for a greenwashing campaign, we are looking for action and value. The secondhand fashion industry is thriving and is not set to slow down anytime soon—it’s time for everyone else to catch up.