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The apparel market has had Thrift clothes storming as they are no longer labeled as inferior and unclean as they used to be in the past days. People used to look down on folks purchasing second-hand clothes but it’s now a trendy thing.
2019 report by ThredUp Resale indicates that the resale market has grown 21 times faster than the new apparel market in the last three years as the second-hand market is said to double in the next five years hoping to hit $51 billion.
The global resale market has been projected to grow to 36 billion US dollars by 2024 as in 2019 the market was valued at 7 billion dollars. Wealthy customers who are known for buying expensive and first-hand fashion brands reduce the already limited options available to low-income communities.
Thrift clothes have now become much more trendy for people who can even afford new clothes due to social media hence the second-hand apparel has now come into the mainstream in recent times.
The growing popularity on the internet played a vital role in promoting second-hand clothes as it has boosted sales and create a good market for thrift clothes.