TDUP - Apparel resale market forecast is forecast to boom in next few years

ThredUP (NASDAQ:TDUP) released the results of the 2022 Resale Report conducted by third-party retail analytics firm GlobalData. The study forecast that the U.S. secondhand market is expected to more than double by 2026 to reaching $82 billion. The global secondhand apparel market is seen growing by 127% by 2026, which is a rate 3X faster than the global apparel market overall. Resale is expected to grow 16X faster than the broader retail clothing sector by 2026. Technology and online marketplaces are said to be driving the growth of the U.S. secondhand market. Online resale is the fastest-growing sector of secondhand and is expected to grow nearly 4X by 2026. About 50% of total secondhand dollars are expected to come from online resale by 2024. In a survey of consumers, 70% of respondents said it is easier to shop secondhand now than it was 5 years ago. Looking at the inflationary environment, 58%

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Apparel resale market forecast is forecast to boom in next few years