2021 JULY
GLOBAL
SUSTAINABLE FASHION
REPORT
By Andrew Sia
This is the first of a series of reports which we will report on the developed countries as it is focusing on the resell of fashion clothing. Without question that it is a growing market and it will increase its presence in the consumer’s wardrobe.
Thrift shops have been known for their vintage clothing and that cater to a special clientele but this more modern day approach, when we are talking about the millennials and the Generation Z, they are turning it into a lifestyle. This type of business will grow in the digital world and through the social media it can boost its presence and also the importance.
GLOBAL SUSTAINABLE FASHION REPORT
Introduction
For the sustainable fashion, one of the key discussions lately is the secondhand apparel market, and in 2019, the global resale was valued at $7 billion. It is projected to become a market of $36 billion by 2024. This second-hand apparel market has becoming more mainstream in recent years as people are more conscious of their buying behavior and for this reason it has been increased in sales dramatically. Our younger generations, the millennials and Gen Z are more likely to buy second-hand clothes for environmental and sustainable reasons. Gen Z is the generation more likely to consider the resale of a product before purchase.
On the main street in every American town we can find the thrift stores. Before it was more known for the vintage clothing and custom jewelries, and now the online resale market has been established, and it allows the business to takeoff. The tendency is that the online resale apparel market is forecast not only to overtake the market value of the thrift stores, but to double it by 2024.
Other items are included, such as electronics, furniture, china, light fixtures, and books, are among the items. It is the channel to dispose for something that is no longer used.
You can refer to the charts as attached showing us the titles as the following:
- Revenue of the apparel market worldwide from 2012 to 2025
- Secondhand apparel market value worldwide from 2012 to 2024
- Secondhand apparel market value worldwide from 2012 t0 2019, with a forecast from 2020 to 2024, by segment
- Leading exporters of used clothing worldwide in 2019, by country
- Leading importers of used clothing worldwide in 2019, by country
- Secondhand personal luxury goods market share value worldwide in 2019, by region
The following two charts—the first one showing the global market revenue, the second one showing the secondhand market. Take 2021’s numbers, the secondhand market only represent 2.28% and for 2025, it will become 2.85%. The secondhand market will increase by 64.2% but the regular apparel market will increase by 31.7%. But this comparison is relatively meaningless as the base number for the regular apparel market is larger.
Currently the resale through the thrift shops is bigger than the resale through online. But the trend will change.
The United States is still the largest exporter for used clothes.
The top three countries who import the used clothes are from the developing countries.
The top three countries who import the used clothes are from the developing countries.
Closing
Under this title, there will be country reports covering:
• United States
• United Kingdom
• Canada
• France
These reports will take two to three issues to complete.
Meanwhile, we will continue with this issue the report about the United States market.