New data suggests that used clothing will outsell fast fashion in the near future.
, last year fast fashion retailers accounted for $35 billion in sales and used clothing was only slightly behind them at $24 billion. Moreover, the data collected by GlobalData says that by 2028 used fashion could reach $64 billion in sales outperforming fast fashion which may only reach $44 billion.
It makes sense. Over the last five years, online sellers like Grailed, Poshmark, Depop, and TheRealReal have created a seamless way for shoppers to buy used and vintage clothing without having to rummage through racks and racks of clothing at second-hand shops. There’s also been a surge in Instagram shops dedicated to used and vintage clothing, making a previously worn sweater or dress just a scroll away.
While used clothing is thought to be better for the environment one thing thats not clear from the report is what this shift will mean from a sustainability perspective. But, one thing we can conclude is that in ten years it's likely that your closet will be full of items that were previously loved.
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