The resale industry is one of the fastest-growing segments of the retail industry. It is estimated that the global resale market will reach $64 billion by 2024. This growth is driven by a number of factors, including the rise of online marketplaces, the increasing popularity of second-hand clothing, and the growing awareness of the environmental and economic benefits of buying pre-owned items.
In this blog post, we will explore the latest resale industry statistics and trends to help you better understand the current state of the resale market. We will also discuss the potential opportunities and challenges that the industry faces in the coming years.
Resale Industry: The Most Important Statistics
The retail sale of second-hand goods in stores in France is expected to increase from 2.3 billion euros in 2016 to 3.3 billion euros in 2025.
72% of consumers sell luxury goods on second-hand platforms to make money, and the global resale market for luxury goods is projected to reach $64 billion by 2024.
Resale Industry Statistics Overview
The resale market value in the United States increased from 28 billion U.S. dollars in 2019 to 36 billion U.S. dollars in 2020, with the majority of this value coming from online sales.
The maternity resale market in the United States was valued at $313 million in 2020, with online sales accounting for $219 million and is projected to reach $368 million in 2024. Online sales are thus driving the majority of the growth, which is a trend that is likely to continue in the future.
Clothing and accessories hold the largest market share (49%) of the worldwide retail resale market, followed by footwear (16%) and bags (11%).
The global apparel resale market was valued at $28 billion in 2019 and is projected to reach $64 billion by 2024, with North America and Europe accounting for 40% and 31% of the market share respectively.
This shows the geographical distribution of the market, with North America and Europe being the two largest regions. It is important for businesses in the apparel resale industry to understand the size of the market and the potential for growth, which helps them to identify where they should focus their efforts in order to maximize their profits.
The retail sale of second-hand goods in stores in France is expected to increase from 2.3 billion euros in 2016 to 3.3 billion euros in 2025.
Therefore, second-hand clothing is the largest segment of the market, followed by second-hand books and home goods, which can help inform businesses in the industry on where to focus their efforts.
The monthly volume index of retail sale of second-hand goods in stores in France has increased by 1.5% since January 2021, reaching its highest level since April 2020.
This demonstrates the resilience of the resale industry in the face of the COVID-19 pandemic, as well as its potential for growth in the future.
The luxury children’s item resale market in the US was worth $1.16 billion in 2020, a 6% increase from the previous year.
On this, we can see that the resale industry is growing, and that there is a strong demand for sustainable fashion and online marketplaces. This indicates that the resale industry is a viable option for businesses and consumers alike, and that it is likely to continue to grow in the coming years.
The US resale market for kids’ and baby items was valued at $6.4 billion in 2020 and is projected to grow to $9.4 billion by 2025.
It shows the growth of the resale market for kids’ and baby items in the US, which is being driven by factors such as a desire for sustainable and affordable options, and the availability of online marketplaces.
72% of consumers sell luxury goods on second-hand platforms to make money, and the global resale market for luxury goods is projected to reach $64 billion by 2024.
This highlights the growing popularity of the resale market for luxury goods, and the potential for consumers to make money by selling their luxury items. It also indicates that the resale industry is a viable option for consumers looking to fund new purchases or reduce their environmental impact.
The global market for luxury resale has grown significantly from $6 billion in 2013 to $29 billion in 2020, and is projected to reach $64 billion by 2025.
Thus, there is a rapid growth of the luxury resale industry, indicating that it is a lucrative and growing market. Knowing this can be beneficial for businesses looking to invest in the resale industry, as well as for consumers looking for the best deals.
Supplementary Statistics
The resale industry is expected to grow to a $64 billion market by 2024.
This shows that the industry is on the rise and is expected to reach a staggering $64 billion in the next few years. This is a clear indication that the resale industry is a lucrative and profitable venture, and one that is worth investing in.
The secondhand market is predicted to be twice the size of fast fashion by 2030.
By 2030, the secondhand market is expected to be twice the size of fast fashion, indicating that more and more people are turning to secondhand items as a sustainable and cost-effective alternative to buying new. This is a major shift in consumer behavior that will have a lasting impact on the fashion industry.
In 2017, the overall revenue for the U.S. resale industry was $17.5 billion.
The industry is thriving and it is a lucrative market for businesses to invest in. This statistic is an important indicator of the potential for growth and success in the resale industry, and it is a valuable piece of information for anyone interested in the industry.
Resale is growing 21 times faster than the retail industry over the past three years.
On this, we can see the increasing demand for second-hand goods and the success of the resale industry in meeting that demand. This statistic is a powerful indicator of the potential of the resale industry and should be taken into consideration when discussing the future of the retail industry.
87% of consumers are using or open to using resale platforms.
The majority of consumers are embracing the idea of buying and selling pre-owned items, which is a testament to the success of the resale industry. This statistic is an important piece of information for anyone interested in learning more about the resale industry and its impact on the economy.
About 57% of consumers have purchased second-hand items, and 43% have sold used items.
Most consumers are engaging in the buying and selling of second-hand items, which is a testament to the success of the industry. This statistic is a valuable insight into the current state of the resale industry and can be used to inform decisions about the future of the industry.
Approximately 20% of a customer’s wardrobe is predicted to be acquired from the resale market by 2030.
It suggests that in the near future, a fifth of the average customer’s wardrobe will be sourced from the resale market, demonstrating the increasing popularity of this sector. This statistic is a testament to the potential of the resale industry and its ability to provide customers with quality, affordable clothing.
80% of all clothing purchased in 2040 will be second-hand or sustainable.
The majority of clothing purchases will be made from second-hand or sustainable sources, indicating a shift in consumer preferences towards more sustainable and ethical shopping habits. This statistic is a clear sign that the resale industry is likely to experience significant growth in the coming years, and is an important piece of information for anyone interested in the future of the industry.
The fashion resale market is expected to overtake the fashion rental market by 2023.
By 2023, the fashion resale market is projected to outpace the fashion rental market, suggesting that the resale industry is on the rise and is likely to become an increasingly important part of the fashion industry. This is an important statistic to consider when discussing the resale industry’s current and future state.
Resold products can save 83% of CO2 emissions from new production.
By purchasing pre-owned items, consumers can drastically reduce their carbon footprint and help to protect the planet. This statistic highlights the potential of the resale industry to make a positive contribution to the environment, and serves as a reminder of the importance of shopping second-hand.
Brick-and-mortar consignment stores account for about 80 percent of the U.S. resale industry.
Despite the rise of online resale platforms, physical stores remain the dominant force in the industry. This is an important point to consider when discussing the future of the resale industry, as it suggests that brick-and-mortar stores will continue to play a major role in the industry for the foreseeable future.
54% of online resale customers intend to replace fast fashion with second-hand clothing purchases.
It speaks to the increasing awareness of the environmental and ethical issues associated with fast fashion, and the willingness of consumers to make more sustainable choices. This statistic is a clear sign that the resale industry is on the rise, and that it is becoming an increasingly attractive option for shoppers looking for quality, sustainable clothing.
62% of consumers who shop at online resale sites do so intending to buy a specific brand.
A majority of shoppers are actively seeking out specific brands when they shop at these sites, demonstrating the power of the resale industry to draw in customers and provide them with the products they desire. This statistic is an important reminder of the importance of the resale industry in the modern marketplace.
Conclusion
The resale industry is growing rapidly and is expected to continue to grow in the coming years. It is a great way to make money and help the environment by reducing waste.
With the right strategies, you can make a great profit from selling items in the resale industry. The statistics show that the resale industry is a great opportunity for those who are looking to make money and help the environment.
References
1 – https://www.statista.com/statistics/1308045/resale-market-value-online-offline-united-states/
2 – https://www.statista.com/statistics/1332431/maternity-resale-market-value-in-the-us/
3 – https://www.statista.com/statistics/826184/retail-resale-market-share-by-product-category-worldwide/
4 – https://www.statista.com/statistics/826162/apparel-resale-market-value-worldwide/
5 – https://www.statista.com/forecasts/391653/retail-sale-of-second-hand-goods-in-stores-revenue-in-france
6 – https://www.statista.com/statistics/1224847/monthly-volume-index-retail-sale-second-hand-goods-stores-france/
7 – https://www.statista.com/statistics/1332427/luxury-children-item-resale-market-in-the-us/
8 – https://www.statista.com/statistics/1332420/kids-and-baby-item-resale-market-in-the-us/
9 – https://www.statista.com/statistics/1063449/reasons-consumers-sell-luxury-goods-on-second-hand-platforms-worldwide/
10 – https://www.statista.com/statistics/1307612/market-value-luxury-resale-global/
11 – https://www.businessinsider.com
12 – https://www.globenewswire.com
13 – https://fashionunited.uk
14 – https://circle-economy.com
15 – https://www.cnbc.com
16 – https://www.gbgplc.com
17 – https://www.researchandmarkets.com
18 – https://www.forbes.com
19 – https://www.bbc.com
20 – https://www.searchenginejournal.com
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