Summer’s end is closer than its start, meaning that students are headed back to school. This annual migration brings with it the ritual of back-to-school shopping for supplies and clothes—as well as the hunt for sales.
Americans spent more than $135 billion on back-to-school purchases last year but there are always opportunities for growth. One way retailers can differentiate themselves and appeal to harried parents is to branch out into secondhand clothing.
The used clothing market nearly doubled from 2018 to 2023, going from from $23 billion to $43 billion over that span, according to the online thrift store ThredUp. And the company projects that it will grow by 11% annually and reach $73 billion by 2028. (Perhaps not surprisingly, ThredUp had the fastest sales growth among top-1,000 online retailers last year, according to Digital Commerce 360.)