Europe’s secondhand apparel market is growing at eight per cent a year.
Vintage and secondhand clothing play an important part in fashion sustainability. Although Russia and Eastern Europe are known for their secondhand stores and markets, buying secondhand garments was considered a sign of poverty in the Soviet Union. For the newer generations, things are shifting.
The secondhand market is in high demand; with pre-owned apparel accounting for 25 per cent of the normal secondhand customer’s wardrobe.
The fear of a recession may cause a reversal in the profitability trend, just as the cost-of-living problem may encourage individuals to transform their clothes into an additional source of revenue. In addition, significant progress has been made in privacy and product-authentication standards, making it simpler and safer for individuals to market their items online.
Secondhand fashion also caters to the demand for exclusivity among customers. It has numerous celebrity admirers, including Zendaya, who has frequently appeared on the red carpet wearing vintage clothing. Lorde and Rihanna, both singers, are admirers of the secondhand trend. All of these variables will continue to influence the industry during the forecast period.
Businesses that enter the resale market may assist to ease consumers’ concern about counterfeiting.
By Fashionating World