Several recent reports from the Boston Consulting Group (BCG), ThredUp and The RealReal show that the shift toward resale has accelerated as consumers prioritize affordability.

A report by BCG and Vestiaire Collective, based on a survey of 7,800 consumers from the Vestiaire Collective community, released in early October, found that the secondhand fashion and luxury market has grown three times faster than the firsthand market. Growing at a rate of 10 percent annually, the global resale market is expected to reach up to $360 billion by 2030, up from its current range of $210 billion to $220 billion.

Resale accounts for 28 percent of the wardrobes from those surveyed, up from 25 percent in 2022 and 21 percent in 2020. Among categories, resale accounted for 30 percent of clothing purchases and 40 percent of handbag purchases. More than half of those (55 percent) occurred through online multi-brand resale platforms such as Vestiaire Collective, The RealReal or Vinted,

Affordability is at the core of secondhand fashion and luxury shopping, cited by 78 percent of surveyed respondents. BCG wrote, “For some, secondhand is a smart trade-up strategy, a way to access higher-end or luxury brands that would be out of reach if bought new. Over half of respondents said they prefer buying premium labels secondhand rather than settling for more affordable firsthand alternatives. It’s how they can afford the brands they aspire to own. For others, secondhand is simply a cost-saving tactic—a way to spend less. Nearly half said they buy secondhand specifically to avoid paying full price for items they want.”

Price remains a deterrent for some who participated in the surveys. Among those who did not buy secondhand in the past 12 months, the primary reason cited was that prices were too high (30 percent).

Other key reasons cited by consumers (55 percent) who buy resale are that uniqueness and a wide assortment of products are major drivers, with 54 percent strongly agreeing to each. About half (49 percent) of consumers strongly agree that searching and interacting with sellers makes resale enjoyable. Forty percent of consumers strongly agree that sustainability is a key factor in their decision to purchase secondhand.

BCG states in its report, “All major motivations are seeing higher agreement levels than in previous years, signaling a more mature and deeply embedded secondhand behavior.”

For sellers, the top reason to sell is “to detox or empty their wardrobes,” cited by 66 percent; followed by generating extra income, with 44 percent seeking to have money available to buy other secondhand items, 41 percent looking to earn money overall and 18 percent looking to have money available to buy other items firsthand.

Among respondents, 66 percent indicated resale enables them to discover or buy a brand for the first time, up from 59 percent in 2022. BCG wrote in the study, “Resale thus serves as both a discovery engine and a recruitment channel — connecting consumers with brands and items they might not access through traditional retail. By combining affordability with availability, including access to sold-out or discontinued items, secondhand can extend product life, broaden brand reach and reinforce long-term brand equity.”

Generationally, the survey found Gen Z is at the forefront of resale, with secondhand items making up to 32 percent of their closets, rising to 45 percent for handbags and 36 percent for clothing.

For the Gen Z consumer, as with most, affordability is the primary driver (74 percent); however, style, discovery and experimentation are also important factors for shopping second-hand. Compared to older generations, Gen Z respondents were more likely to cite the “Thrill of the Hunt” and the appeal of finding limited or sold-out items (+7 percentage points vs. the average), as well as the joy of enhancing personal style (+5 percentage points vs. the average). It is also a clear discovery channel, with around 80 percent of Gen Z respondents saying they bought or discovered a new brand through secondhand channels, which is significantly higher than the overall average of 66 percent.

ThredUp’s 2025 Consumer Holiday Report, based on a survey of 2,000 consumers conducted by GlobalData, found consumers plan to dedicate nearly 40 percent of their total holiday budgets to secondhand gifts, up from the 30 percent they typically spend on resale in their everyday shopping. The survey found that over half of those surveyed (52 percent) are more likely to focus on getting more items for less money this year.

ThredUp’s report also identifies that nearly 66 percent of all consumers are open to giving secondhand gifts this holiday season, a figure that rises to 80 percent for Millennials. ThredUp also cites that nearly two-thirds of those surveyed consumers are happy to receive secondhand items, driven by a desire for scarcity and value.

Other findings from ThredUp’s consumer survey:

  • The top reasons given for turning to resale were saving money/better value (62 percent) and finding unique items (56 percent).
  • Nearly 47 percent of respondents plan to, or are considering, selling personal items (e.g., apparel, electronics, luxury goods) to help cover the cost of gift giving this holiday season. This trend is overwhelmingly common among younger generations: Millennials (70 percent) and Gen Z (57 percent) are most likely to embrace this strategy.
  • The top secondhand categories that respondents are considering buying as gifts this holiday season are accessories (e.g., handbags, jewelry, scarves), at 40 percent; women’s apparel (e.g., coats, knits, denim), at 36 percent; and vintage items (apparel, accessories, and home), at 31 percent.

“While the macroeconomic picture remains unclear, consumers aren’t stopping their holiday traditions—they’re just getting more strategic on how they participate. They’re seeking the most value, and that path is increasingly through resale,” said James Reinhart, CEO and Cofounder of ThredUp. “This holiday season proves consumers are incredibly financially savvy. Close to half of all shoppers are turning old items into cash they can use for holiday gifts. This circular strategy is becoming a major part of how they fund their holiday spending.”

ThredUp’s 13th annual Resale Report, released in May, showed that online resale experience accelerated growth for the second consecutive year, at 23 percent, its strongest rate since 2021. The U.S. secondhand apparel market grew 14 percent in 2024, marking its strongest annual growth since 2021 and outpacing the broader retail clothing market by five times. ThredUp expects this number to nearly double in the next 5 years, growing at a CAGR of 13 percent to reach $40 billion by 2029.

The RealReal’s annual Resale Report, released in September, cited data from Capital One Shopping’s Thrifting Statistics, 2025, showing that nearly one-third of clothing purchased in the U.S. last year was secondhand, 58 percent of consumers now prefer the secondary market outright, and 47 percent of consumers now consider resale before buying new.

RealReal’s proprietary data shows that fine jewelry and vintage handbags continue to hold strong, while cultural shifts, the political climate and creative director shakeups also shaped demand. Nostalgia remained a strong driver, fueling the revival of 2010s fashion and high heels along with the return of 1980s maximalism. Vintage pieces reached new highs, with nearly 30 percent more consumers searching the platform for vintage items this year than in 2024.

“In a year defined by instability, AI blurring real and synthetic, and trends flattened by social media, consumers rejected uniformity and sought out pieces that felt real, unfiltered, and unreplaceable,” said Rati Levesque, CEO & president of The RealReal. “The result is a moment in fashion not shaped by brands or trends, but by individuals expressing their personal style.”

Image courtesy Alyssa Beltempo, Slow Fashion