Online thrift store ThredUp has recently published a report highlighting consumers’ growing interest in eco-friendly and secondhand products.
This piece states that consumers are still taking interest in eco-friendly products even during the coronavirus pandemic. Eco-friendly companies like Patagonia have seen 57% more interest from consumers in recent months than usual.
An earlier study states that younger shoppers are willing to spend more on eco-friendly products, which also include used items. Despite overall retail falling by 23% over last year, the online second-hand market is expected to increase by 27% this year.
The report further predicts resale to grow five times in the next five years, with Gen Z and millennials driving this growth. 40% of Gen Z consumers and 30% of millennials purchased second-hand apparel, footwear or accessories last year.
[1 minute read, This article may be behind a paywall]