The #1 reason is to make money.3, 88%of consumers adopted a new thrifty hobby during Covid that they plan to continue. ", "Thrift shopping has grown tremendously over the past few years and, with the events of the past few months changing the way many consumers look at purchasing, is likely to become more mainstream. Head-to-toe Justice clothing has the cutest, on-trend styles for tween girls. ", "Unlike after the financial crisis, we believe the period after Covid is an opportunity for brands to embrace sustainability and we expect to see a continued, if not accelerated, shift towards sustainable fashion as the economic outlook improves. Excludes non-clothing elements of subscription models, and rental services. Percentage of consumers who say they will spend more on sustainable brands within the next 5 years2, 70% of all consumers agree that addressing climate change is more important now than ever.3, Eco-brands like Patagonia and Allbirds are getting 57% more interest on thredUP since Covid.8, 73% of people plan to support brands who contributed positively to those in need during Covid.3. Industry Experts Agree: Resale is Set to Soar. With consumers seeking bargains from home, online secondhand is set to grow 69% between 2019 and 2021, while the broader retail sector is projected to shrink 15%. Brands include: Anthropologie; Free People; Madewell; Diane von Furstenberg; Prada; 4. 208Mlbs of waste were generated by single-use outfits in 2019. Here we’re planning our future wardrobes, finding scrumptious recipes, and sharing DIY ideas— join us! Analysts predict consumers will turn to sites like thredUP and Rebag to clean out their closets for extra cash...and stuck at home and worried about their finances, they’re hunting for bargains online. where shoppers plan to spend more or less money in the next 5 years2, Responses represent buying intentions of consumers over the next 5 years. Value Chains: Value stores are a retail format that sells inexpensive items, at a single or limited number of price points. Assorted Brands Solid Green 3/4 Sleeve Top Size 36 (EU) - 83% off | thredUP thredUP assumes no obligation to update any forward-looking statements after the date of this report, except as required by law. Online thrift store ThredUp says that Everlane and Anthropologie are among its fastest-selling brands. Here’s what the latest data is telling us: First, changes that were already afoot in retail are accelerating rapidly. Examples include Walmart, Target, Dollar Tree. Department Stores: A type of general retail store, wherein the retailer displays products within distinct departments, often located on separate floors, specializing in defined product areas. The study compared the environmental burden of purchasing a brand-new garment with that of reusing an average garment sold by thredUP across all stages of the garment’s lifecycle. ", "Before the pandemic hit, the resale market was on track to double. Call (888) 868-0186 for help. 1. With their words, deeds, and dollars, the younger generation is demonstrating a genuine desire to be part of the long-term solution to fashion waste. Includes both the Resale sector and the Thrift & Donation sector. Brands whose core proposition delivers value and convenience have the opportunity to gain share. Not value but not premium or luxury. Use Brand and Measurement Information You Already Have. Brands available. Examples include Reformation, Allbirds, Eileen Fisher, Patagonia. The website features about 2.4 million listings from over 35,000 brands at any given time. "Even as the retail industry has slumped, dragged down by disappointing earnings and an unending trade war, resale is exploding. Even with social distancing in place throughout the country, our community was able to upcycle with thredUP and uplevel with Reebok UNLOCKED”, “We know that customers, especially millennials, are interested in shopping resale clothing. These secondhand options are primarily, but not exclusively, online. people are throwing their unwanted clothes straight in the trash. Handbags and final sale items are non-returnable. If everyone wore a thrifted outfit to a wedding next year, it would save 1.6B lbs of CO2e. Those findings are included in the Covid section at the beginning of thredUP’s Annual Resale Report. 3. Secondhand: Consumption of all used apparel. It’s the go-to brand for professional, stylish work pants and work dresses . Throwaway fashion culture is depleting natural resources and overfilling landfills. “If I’m a fashion brand right now and see that the resale industry is growing at a rate that’s 21 times faster than the overall fashion industry, I’d be thinking to myself, “How do I get a piece of this?”, “Partnering with thredUP gives Walmart a slice of the action in the resale space, which has been growing rapidly. of CO2e to produce the averagepair of jeans. Resale Value Ranking: thredUP evaluated 35,000+ unique brands on its platform and created an aggregate score to determine a brand's ranking based on demand, virality, and value to the seller. In 2018, the company extended its marketplace to brands and retailers. Sustainability SpikeGen Z favorite Reformation breaks into top 10. The survey asked them a number of questions about their attitudes towards apparel, secondhand products, and resale products. thredUP has based these statements largely on its current expectations and assumptions, and on information available as of the date of this report. for … GlobalData Covid Survey: GlobalData performed a second consumer survey of 2,000 women in April, 2020 which specifically focused on changes in attitudes towards apparel, secondhand products, and resale products in light of impact of the global pandemic. These and other factors could cause results or outcomes to differ materially from those expressed. If more than one strikethrough price is shown, the highest-priced strikethrough price next to the item represents the estimated original retail price referenced above and the lower-priced strikethrough price represents the original listed price on thredUP. 6. According to Thredup’s S-1 filing, technology is its largest expense. 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