It is a huge market and the management of ThredUp makes a convincing argument for the growth of their business. In a study ThredUp completed recently, the company found that 82% of people surveyed have bought, or are ready to shop for, second hand clothes when money gets tighter. Their study showed that this favorable attitude toward second hand clothing has been steadily increasing: in 2019, the percentage of consumers with a favorable attitude was 70%, in 2018 - 64%, in 2017 - 52%, and in 2016 - 45%. Second hand sales are expected to double in the next 10 years. Second hand sales were 3% of total apparel sales in 2009, 7% in 2019 and are projected by the company’s study to be 17% by 2029.

Source: Forbes June 29, 2020 11:03 UTC