Apparel Resale Market Report 2024

The apparel resale market size has grown rapidly in recent years. It will grow from $163.13 billion in 2023 to $181.4 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth during the historic period can be attributed to the rise of digital platforms for resale, higher disposable income, increased demand for affordable luxury brands, a growing preference for eco-friendly fashion alternatives, and improvements in online payment security.

The apparel resale market size is expected to see rapid growth in the next few years. It will grow to $281.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth during the forecast period can be attributed to the rising number of digital wardrobes and closets, increased urbanization, growing demand for unique and vintage clothing items, a rising middle-class population, and expanding cross-border trade. Key trends expected in this period include technological advancements, integration of augmented reality (AR), the use of blockchain technology, adoption of mobile payment solutions, and the implementation of eco-friendly packaging.

The expansion of e-commerce platforms is anticipated to drive growth in the apparel resale market. E-commerce platforms are online systems that facilitate the buying and selling of goods and services over the Internet, offering tools for transaction management, inventory control, and customer engagement. The rise of e-commerce platforms is attributed to increased online shopping adoption, advancements in digital technology, and broader Internet accessibility. These platforms provide global reach, allowing sellers to access a larger audience beyond their local areas. This enhanced visibility enables resale items to reach buyers who may not have access to physical resale stores. For instance, in May 2024, the United States Census Bureau, a US-based government organization, reported that U.S. retail e-commerce sales for the first quarter of 2024 amounted to $289.2 billion, marking a 2.1% (±0.7%) increase compared to the fourth quarter of 2023. Consequently, the growth of e-commerce platforms is fueling the expansion of the apparel resale market.

Leading companies in the apparel resale market are focusing on developing innovative solutions, such as resale platforms, to improve user experience and stimulate market growth. Resale platforms are online or physical marketplaces where individuals and businesses can buy and sell pre-owned goods, including clothing and accessories. For instance, in October 2022, Shein, a Singapore-based retail company, launched a new online peer-to-peer resale platform in the United States. This platform features a user-friendly interface with advanced search filters and personalized recommendations to simplify the process of buying and selling pre-owned fashion items. A robust authentication system ensures item quality and authenticity, while integrated AI-driven pricing tools assist sellers in setting competitive rates.

In July 2021, ThredUp Inc., a US-based consignment company, acquired Remix Global AD for €24 million ($26 million). This acquisition aims to enhance ThredUp’s resale platform by expanding its inventory, utilizing Remix’s technology for improved item curation and authentication, and broadening its global market reach. Remix Global AD, based in Bulgaria, specializes in sustainable clothing remanufacturing and resale services.

Major companies operating in the apparel resale market are Walmart Inc., Alibaba Group, H&M Hennes & Mauritz Retail Pvt Ltd., eBay Inc., Flipkart Internet Pvt Ltd., SHEIN, ZARA, Mercari, The RealReal, Poshmark, Thredup Inc., Meesho, StockX LLC, Vinted Inc., Remix Global AD, Buffalo Exchange, A&E Clothing, Sellpy, Ajio, Shelter, Vogue, Chikatex, Micolet, Aristobrat, Thrift+, YnFx.

Asia-Pacific was the largest region in the apparel resale market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the apparel resale market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the apparel resale market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Apparel resale involves buying and selling second-hand clothing and accessories. This process includes exchanging used garments through various channels such as consignment stores, thrift shops, online marketplaces, and specialty resale platforms.

The main types of apparel resale include dresses and tops, shirts and t-shirts, sweaters, coats and jackets, jeans and pants, and others. Dresses and tops in the resale market consist of previously owned or gently used items such as formal and casual dresses, blouses, and tunics, which are sold at a lower price compared to new ones. These items are popular among consumers seeking unique styles or sustainable fashion choices. The sectors involved include resale and traditional thrift stores, donations, and various consumer groups such as men, women, and children. Distribution occurs through multiple sales channels, including wholesalers or distributors, hypermarkets or supermarkets, multi-brand stores, independent small stores, department stores, online retailers, and other sales channels.

The apparel resale market research report is one of a series of new reports that provides apparel resale market statistics, including apparel resale industry global market size, regional shares, competitors with an apparel resale market share, detailed apparel resale market segments, market trends, and opportunities, and any further data you may need to thrive in the apparel resale industry. This apparel resale research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The apparel resale market includes revenues earned by entities by providing services such as consignment services, online resale platforms, thrift stores, repair and upcycling services and related retro clothing, high-end clothing and winter wear. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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