Apparel Re-commerce Market Size, Industry Analysis Report By End-User (Adult, Kids), By Product (Clothing and garments, Footwear, Accessories, Handbags, Wristlet) & Region – Forecasts
- PUBLISHED ON
- 21/10/2022
- NO OF PAGES
- 257
- CATEGORY
- Banking & Finance
The Apparel Re-commerce Market is valued at around USD 72.12 Billion in 2022 and is expected to reach USD 652.3 Billion by 2030, registering a CAGR of 24.6% over the forecast period. A suitable platform was required to sell and acquire stylish clothing in good condition as consumer awareness of the need to reduce, re-use, and recycle clothing increased.
The typical impulsive shopper is giving way to the wise money saver in terms of consumer purchasing behaviour. Having an excessive amount of clothing in one's closet and purchasing a new basic item based on the newest fashions are no longer popular among younger consumers. They are keeping track of the advantages of spending money more wisely and are more environmentally conscious.
The Apparel Re-commerce Market - Growth Factors
B2C e-commerce sales have been sharply rising since 2010 as a result of the growing global penetration of the internet. Due to the strong CAGR growth of e-commerce sales, the global clothing market is becoming more accessible to clients. Global B2C e-commerce sales have been significantly boosted by some of the important e-commerce businesses, like online fashion. As online clothing retailers grow and demand for reselling clothing increases at the same time, the market has been witnessing a new trend. The re-commerce market for clothing has expanded dramatically in recent years. Apparel re-commerce refers to an online marketplace that makes it easy to buy and sell second-hand clothing. Customers may now buy and sell clothing accessories more easily, whether they are shoes or another type of accessory. Numerous websites and online stores provide clothing and accessories to customers at special prices and with enticing promotions, which supports the expansion of the business.
The Apparel Re-commerce Market – Market Trends
Customers have the possibility to get their desired garments and fashion accessories at reasonable costs and without having to leave their homes thanks to the apparel re-commerce markets. Customers are given access to a variety of amenities, including displays for the goods that are for sale.
The online store's website offers pictures and details about the products, which aids in educating the buyer. -Customers can select the size, colour, and other options for their chosen products using these as a guide.
-Customers can contact the vendor directly if they have any questions or problems regarding the product in addition to the ease of shopping. The ease of internet shopping is contributing to the growth of the garment re-commerce industry.
The Apparel Re-commerce Market – Segmentation
The Apparel Re-commerce Market fragrance concentrates market has been sub-classified into material, product, end-user.
On the basis of end-user, the Apparel Re-commerce Market is bifurcated into:
• Adult
• Kids
• Others
On the basis of product, the market is segmented into:
• Clothing and garments
• Footwear
• Accessories
• Handbags
• Wristlet
The Apparel Re-commerce Market –Regional Analysis
North America dominated the global Apparel Re-commerce Market is assisting the re-commerce industry as new fashion trends take hold. In the US, Generation Z and Millennials are interested in used clothing. In the US, there are several fashion trends, making it important to occasionally update one's clothing. Resale markets are currently the preferred destination for American youth. These marketplaces provide a variety of luxury products for sale in addition to clothing and fashion items. American consumers are embracing the re-commerce sector for garments due to changing lifestyles and rising environmental awareness.
The Apparel Re-commerce Market – Key Market players
Global key players of Apparel Re-commerce Market include Vestiaire Collective, The RealReal, Tradesy, Poshmark, ThredUP, Vinted, SnobSwap, Threadflip and others.
Report scope
Global Apparel Re-commerce Market: Historical Years- 2018-2021
Global Apparel Re-commerce Market: Forecast Years- 2022-2030
Global Apparel Re-commerce Market 2022- USD 72.12 billion
Global Apparel Re-commerce Market 2030- USD 652.3 Billion
Global Apparel Re-commerce Market CAGR- 24.6%
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