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ARTICLE · 05 SEPTEMBER 2023

Retail Viewpoint: Is Resale Worth It For Your Brand?

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The consumer spending outlook is bleak. Inflationary pressures may be stabilizing, but consumer spending remains low heading into the fall.

United StatesConsumer Protection
Stacy Xie
Stacy Xie
Rebecca Murphy
Rebecca Murphy
Author LinkedIn connections

The consumer spending outlook is bleak. Inflationary pressures may be stabilizing, but consumer spending remains low heading into the fall. The sustained economic downturn has forced families to budget carefully to meet the rising costs of essentials. Compounding the impact, student loan repayments are set to resume in October after a three-year pause.

As such, it's no surprise consumers are increasingly turning to second-hand shopping. More than half shopped this way in 2022, when the global second-hand apparel and footwear market reached $177B. It's expected to double by 2027.

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Those looking to stretch their budgets during tough times are increasingly leaning into the circular economy. Of the 37% who spent a higher proportion of their apparel budget on second-hand in 2022, 63% did so in response to inflation, according to thredUP's 2023 Resale Report.

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