Goodwill is the new Chanel
My bestie was visiting this weekend. She had the coolest boots on.
Then she had the coolest dress on.
And then the coolest jacket on.
Everything just was cool. I was shocked I hadn’t found these pieces myself. They weren’t in Zara or H&M, not on Abercrombie’s site…
She thrifted them all.
Depop, ThredUp, Goodwill, you name it- she shopped it.
Thrifting isn't groundbreaking, and it's actually something I do frequently. I can get more for my dollar (pce, luv, inflation). Cooler pieces. No one else has it. And! There is a pride I have in finding the piece.
After this weekend though, I realized I thrift a lot. So do my friends. Way more than ever before. A quick google search and I’ve confirmed:
Everyone is thrifting more.
Thredup reported that North America is leading the global secondhand market.
North American annual revenue will double by 2026 to be $82B for second hand purchases, traditional clothing thrifting will account for $31B of that.
93% of consumers over the age of 18 have bought second hand. This is up from 52% in 2018.
76% of second hand items bought aren't even clothing. It’s auto parts, electronics, furniture, sporting goods…
82% of Americans sell pre-owned items. This is also about the same percentage of Americans that own a smartphone.
The American second hand apparel market is projected to grow 8x faster than the overall apparel market this year.
Inflation is the number one cited reason for secondhand shopping by consumers. Other interesting reasons are: the thrill in hunting for new pieces, the sustainability aspect and the social acceptance of it (and some cited it’s a social outing!).
Goodwill specified that the pandemic inspired more people to clean out their closets. Resulting in more donations.
I live in Gramercy, New York City. Not cheap. There is a thrift shop on my block. I have been questioning how they pay their rent for the last year now, but with these stats I have my answer.
This doesn’t seems like the most lucrative business, but clothing resales is how NastyGal was founded back in 2006. Maybe there is a million dollar idea here. Maybe I’ll open up “GreatWill”.
If you haven't been yet, check out Mother of Junk in Williamsburg, Brooklyn. Its a fantastic mess. 