The Secondhand Market is Rapidly Expanding: Will Challengers be able to thrive and scale up?
Secondhand clothing has become a giant in the fashion world. In fact, it is expected that the secondhand market will triple in value over the next decade. But what’s more important is that if a customer buys from an American used clothing company, it has the potential to alter the fast fashion industry. In the past two decades, fast fashion has grown exponentially and altered the fashion landscape significantly. This has led to the production of more clothing that is distributed faster. Consumers are encouraged to buy clothes in excess at low prices. And even though fast fashion might continue to grow in the future, it will be surpassed by the growth of secondhand fashion.
Experts in clothing sustainability and consumption believe that secondhand clothing trends can change the world of fashion and even mitigate the industry's detrimental impact on the environment. Read on to learn more about the Secondhand market and how challengers can thrive in this industry.
Will the Secondhand market be the next big thing?
There are two major categories in the secondhand market - resale platforms and thrift stores. The resale platforms have been responsible for the recent popularity of the industry. Up until a few years ago, used clothing was perceived as tainted and worn out. These were mainly used by treasure or bargain hunters. But now, there is a change in this perception. There are a lot of customers who consider it to be of equal or even better quality than unworn clothing. Also, ‘fashion flipping’ is a trend where people buy used clothing and resell them. This is quite popular among young customers.
Thanks to the new online platforms and growing consumer demand, the resale market is set to become the next big thing in the world of fashion. These platforms are known for facilitating peer-to-peer everyday clothing exchange. All customers need to do is find an American-used clothing company that offers this service. This has also led to the substantial growth of secondhand luxury clothing.
There are many platforms that have been associated with the fashion industry ranging from waste and pollution generated by the production of clothing to the poor wages of workers in the factory. Less than 1% of the materials used for making clothes are recycled for making new clothing.
Customers are becoming increasingly aware of apparel production’s ecological impact and are now demanding businesses to commit to sustainability. By purchasing used clothing, these customers have an answer to the problems of fast fashion. When they buy used clothing, it extends the life of the piece of cloth. In fact, even higher quality clothing that are sold in the secondhand market has high value over time; which is not the case for fast-fashion products.
So, if you buy secondhand clothing of high quality, it is a win for the environment. However, there are some experts who believe that the secondhand market is only expanding access to a much more affordable type of clothing and encouraging excess consumption. There are several young women who buy used clothing because of its affordable price.
However, whatever the motive of the customer is, increasing the use of used clothing is a major towards sustainability.
Challengers in the industry
Several established players who have capitalized on this trend. However, a lot of challengers have emerged as well. For some customers in the community, purchasing pre-owned fashion is part of living a sustainable lifestyle. And even though there has been some development towards sustainability at the industry level, high-level brands have been ‘greenwashing’ to attract these environmentally-conscious consumers. Thankfully, it is possible to find an American used clothing company that making real strides in the market.
LA Vintage is one of such challengers. They are a vintage clothing warehouse located in Los Angeles. Recently, they transitioned from selling vintage clothing online to becoming a wholesaler exclusively. Instead of selling vintage clothing through their eCommerce site directly to their customers, they focus on selling wholesale vintage clothing to retailers from all over the world.
Because of this, they have been able to expand their operation and find the most unique items for retailers who want a competitive price on vintage items in bulk. This move will allow this American used clothing company to expand its operation and choose only the most unique items for retailers seeking a competitive price on bulk vintage items.
Secondhand markets are increasing in popularity every day. Customers want to purchase an American used clothing company that allows them to be sustainable while giving access to a wide range of used and unique clothing.