The resale business, also known as the secondhand or thrift market, is one of the fastest-growing sectors of the global economy. According to recent estimates, the resale market is expected to reach a value of $64 billion by 2024, representing a compound annual growth rate of nearly 20%.
There are several factors driving this rapid growth. One of the main drivers is the increasing awareness of the environmental and social impacts of fast fashion and the desire to reduce waste and support sustainability. As more and more consumers become aware of the environmental and social impacts of fast fashion, they are increasingly turning to secondhand and thrift stores to find clothing and other products.
In addition to environmental concerns, the resale market is also being driven by economic factors. With the rise of online marketplaces and social media, it has become easier for individuals and small businesses to sell their gently used products and reach a wider audience. This has led to a proliferation of resale businesses, including thrift stores, consignment shops, and online marketplaces like Poshmark and Depop.
As the resale market continues to grow, it is expected to have a significant impact on the global economy. In addition to providing an alternative to fast fashion and helping to reduce waste, the resale market also supports local communities and creates jobs. In fact, some estimates suggest that the resale market could create up to 2.1 million jobs by 2030.
Overall, the projected growth of the resale business is a positive development for both the environment and the economy. By supporting the resale market, consumers and businesses can play a role in creating a more sustainable future and driving economic growth.
As a thrift wholesale supplier, America's Thrift Supply is helping to support the growth of the reseller market by providing resellers with a reliable source of affordable, gently used inventory. By sourcing and selling secondhand products, America's Thrift Supply is helping to promote the circular economy by keeping used products in circulation and reducing waste.
In addition to supporting the circular economy, America's Thrift Supply also offers numerous benefits to resellers. By providing a diverse range of gently used products at affordable prices, resellers are able to offer their customers a wide range of options at competitive prices. This can help resellers to stand out in the market and attract more customers.
In addition to offering a wide range of products at affordable prices, America's Thrift Supply also provides support and resources to help resellers succeed. This can include marketing and branding materials, as well as training and support on how to best sell and market thrift products.
America's Thrift Supply is playing a key role in supporting the growth of the reseller market by providing resellers with a reliable source of affordable, gently used inventory and the support and resources they need to succeed. By partnering with America's Thrift Supply, resellers can take advantage of the growing demand for secondhand and thrift products and play a role in driving the growth of the circular economy.