By  on March 19, 2019

With the total secondhand market projected to reach $51 billion in five years from today’s $24 billion, resale is a high-speed train that more consumers are riding. Don’t even try to stop it. That’s the conclusion of ThredUp’s annual Resale Report with research and data from third-party retail analytics firm GlobalData.

“More people are shopping secondhand than ever before,” said James Reinhart, cofounder and chief executive officer of ThredUp. “It’s this onward march. We don’t anticipate the resale industry getting smaller over time. [The question] is, who will be the winners and losers over time and how will consumer preferences change. One of the starkest things to come out of this report is the data point that 72 percent of secondhand shoppers said they’re shifting spending away from traditional retail.”

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