Secondhand Surge: Inflation, Product Scarcity, and New Tech Platforms Fuel Resale Market

Photo caption: Online reseller thredUP found in its annual report that online resale is the fastest-growing source of secondhand sales. — ThredUP. Article by: Joan Verdon. US Chamber of Commerce – July 07, 2022.

Why it matters:

• Resale is one of the fastest growing segments of the retail economy. In the clothing sector, the resale market is expected to grow 16 times faster than non-resale over the next four years.
• More consumers are saying they are willing to buy secondhand, with interest in categories like furniture, appliances, and electronics growing.
• Online resale platforms have spurred the growth of hundreds of small businesses specializing in secondhand goods. […]

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