#31: thredUp just released its 2024 resale report

Breaking down the highlights from the latest resale report and what is getting us excited about where things are headed.

🎤 New ThredUp Resale Report just dropped: Read the full report here!

Some initial takeaways:

1️⃣ The US secondhand apparel market is expected to reach $73 billion (with a B) by 2028, growing 15X faster than broader retail last year. It’s here. It’s happening. Let’s keep the foot on the pedal!

2️⃣ 65% of the incremental secondhand spend is expected to come from ⭐ new to resale shoppers ⭐. This is precisely why we made Beni. People are excited to explore the world of resale but need some help navigating the ins and outs as they change their behavior. We are the welcoming party and our goal is to make you feel at home!

3️⃣ Value is King. 60% of consumers say shopping secondhand apparel gives them the most bang for their buck. While shopping secondhand is more sustainable than buying new, the biggest appeal to most new shoppers is the price. We often talk about how resale allows you to ladder-up at every level and get higher quality at a discounted price. Overtime this makes room for …