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Tuesday, 09 November 2021 13:03

Apparel shortage boosts sale of used clothes in the US

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Secondhand apparel retailers like Poshmark and RealReal in the US are expecting strong end-of-year sales. Shortage of new clothing at stores is pushing shoppers to consider thrifting as an option to fill their holiday shopping bags.

Apparel had the highest online out-of-stock levels among US retail sectors in the run-up to the holiday season. Shortages are expected to drive Americans to secondhand clothing companies, which are not as affected by global supply chain issues as they get their stock mainly from the closets of American households. Secondhand retailers have seen blistering pace of growth over the last few years as eco-conscious Gen Z and millennial consumers increasingly find it fashionable to buy used products and cut back on their environmental footprint. Since inventory is scarce at the moment consumers shop where they find inventory to make sure they have things in time for the holidays.

The market is expected to grow bigger and more than a third shoppers are likely to buy secondhand apparel this holiday season, with numbers rising 50 per cent for people under the age of 40. Holiday-quarter sales are expected to rise 22.9 per cent for Poshmark and 53.3 per cent for RealReal.