Secondhand Apparel Market Analysis: Research During The Ongoing COVID19 And Research Methodology By 2031

Used Clothing Leading Exporters Worldwide 2020 Statista

According to a recent study by Future Market Insights (IMF), the global used clothing market is expected to grow by 11.2% during the forecast period 2021-2031, although the growth period will slow in 2020.

The fashion industry has changed dramatically with globalization. Lifestyle changes resulting from industrialization, urbanization, economic development and globalization have accelerated sales in the fashion industry over the past decade, particularly in developing countries and regions where social and economic change is accelerating.

E-commerce has changed the shopping experience, with more than 60% of people choosing to purchase goods, services and products online. Home delivery, subscription form and other features are the main reasons for this change.

Request a copy of this report at https://www.futuremarketinsights.com/reports/sample/rep-gb-11161

Product reviews and other e-commerce features help merchants learn shopping habits and trends to create products and services that meet the needs of potential buyers. It contains useful information that retailers can use to develop effective marketing strategies.

The presence of companies such as ThredUP and Poshmark, which are responding to the demand for cheaper and environmentally friendly alternatives to new clothes, will support growth in the coming years. The expansion of sales channels on the Internet will also bring good results.

To build customer loyalty, many fashion retailers are implementing recycling initiatives and launching new clothing collections made from eco-friendly fibers. Increase consumer awareness of online shopping platforms and fast-growing online startups that offer second-hand rental, designer and ethnic-style clothing.

The main results of the second-hand clothing market research

  • T-shirts and T-shirts are expected to capture 29% market share in 2021 due to changing consumer preferences and increasing female workforce.
  • Online retail will remain a profitable distribution channel during the forecast period with a CAGR of 18.7% due to its wide product selection.
  • By the end of 2031, sub-Saharan Africa will dominate the Middle East and Africa, accounting for more than 50% of the value share by the end of 2031 due to the popularity of second-hand clothing.
  • Pakistan accounts for over 40% of second-hand clothing sales in South Asia due to its low social and economic consumer base.
  • Guatemala leads Latin America with a value share of over 30% over the forecast period.

    • Impact of COVID-19 on markets:

    Consumers are buying not only less junk, but also better quality clothing instead of cheap disposable alternatives. Customers have also switched from the online shopping option to the online shopping option.

    During the COVID-19 crisis, e-commerce took over and merchants invested in an online presence. Before the closure, online stores developed temporary ways to sell their products online.

    There is a labor shortage in the used clothing market in this industry. Cutting back on operations due to fears of virus transmission also creates short-term problems.

    Customization Request https://www.futuremarketinsights.com/customization-available/rep-gb-1161

    Who won?

    Major players in the used clothing market are targeting strategic collaborations and other marketing strategies to grow their business and attract a wider customer base.

    One of the major players in the used clothing market is ThredUp Inc. and RealReal and Patagonia Inc. and Poshmark, StockX, Vinted and eBay Inc. and Micolet, Thrift+ and Tradesy Inc. and Chicatex, HunTex Recycling Kft and A&E clothing. Inc., Mobacotex, Percentel. Other countries include Morocco.

    Second-hand market by segment

    By sectors:

  • resale
  • Thrift shops and traditional donations

    • By product type:

  • Dresses and shirts
  • Tees and tees
  • Blouses, coats and jackets
  • jeans and trousers
  • Acharyan

    • By target group:

    Through the sales channel:

  • Wholesaler/Distributor
  • Hypermarket / Supermarket
  • Shop many brands
  • Small independent businesses
  • Big store
  • Online seller
  • Acharyan

    • By region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

    • About Future Market Insights (IMF).

    Future Market Insights (an ESOMAR-accredited market research firm and member of the Greater New York Chamber of Commerce) provides detailed information on the regulatory factors driving market demand. It reveals the opportunities that will drive market growth across segments based on source, application, sales channel, and end-use over the next 10 years.

    Contacts:

    Future Market Insights, Inc. Christana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware - 19713, USA T: +1-845-579-5705 For Sales: sales@futuremarketinsights.com For Business Inquiries: Media: @futuremarketinsight Press Release: https: //www.futuremarketinsights.com/reportsLinkedIn | Blogging on Twitter

    The truth behind fast fashion: Are fashion retailers being honest with their customers? | Documentary by DW

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