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World of Resale
- More people purchase secondhand items in stores (75%) than online (55%), per Morning Consult. However, the reverse is true for sellers: 44% sell items online with 31% in stores.
- Over a third (39%) of buyers prefer to purchase resale items on peer-to-peer platforms, according to Morning Consult. Nearly as many (38%) reported no preference, while 24% prefer consignment shopping. Meanwhile, buyers have a greater preference for selling peer-to-peer (59%) and less for consignment (11%).
- We forecast the US fashion digital resale market will reach over $30 billion in 2025 up from $15.50 billion this year. In addition, the annual average sales per buyer via online fashion resale marketplaces will more than double between 2021 and 2025, rising 132.4% from $339.18 to $788.38.
- In 2020, the home furnishing category became the fastest growing resale segment, per Charish. This growth will be sustained by the 70% of shoppers who plan to continue purchasing pre-owned products online.
- In fact, the home furnishings resale market is projected to grow 54% over the next five years, 3.5 times faster than traditional retail, per Charish. Currently, two-thirds of US homes now contain resale home goods and furniture.
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