In with the old
clothing used to be an intuitive activity. Previously, a pre-loved coat, dress or shirt found its way to eBay, or it was taken to the local market in the hope of exchanging it for money. Not anymore. Today, the resale arena is a high-growth economy propelled by an overwhelming number of online businesses. According to analytics firm GlobalData, the global fashion resale market is estimated to be worth a whopping $68 billion dollars by 2023. The company gathered data from Thredup, an online resale store based in San Francisco, and found it is a market growing 21 times faster than the sale of new clothes.
