Consumer Edge (“CE” or the “Company”), the leading provider of global consumer data-driven insights, today announced new data highlighting the rapid growth of the resale market, which includes platforms enabling consumers to buy and sell items directly to each other and secondhand sales by brands and traditional retailers. The findings collected by Consumer Edge show resale spending outpaced traditional retail throughout 2024, driven by budget-conscious shoppers and an increased focus on sustainability amid an uncertain economic environment.
This outperformance against the broader apparel, accessories and footwear industry widened later in the year. Consumer Edge’s consumer spending data revealed that resale spend growth accelerated sharply from a summer low of -3 percent to reach its highest growth of the year in October at +5 percent, signaling strong momentum heading into 2025 as consumers continue to seek value and uniqueness in their purchases. Other key findings include:
- Pure-play is on the rise: Resale companies that focus exclusively on secondhand sales, known as pure-play platforms, have been gradually growing their share of the overall apparel, accessories and footwear industry as many consumers look for alternatives to traditional retail. Brands such as On and Banana Republic have introduced resale platforms to compete with this trend, offering discounted secondhand pieces. However, these efforts have not yet dented the momentum of resale-exclusive platforms, which continue to attract a growing base of consumers.
- Social and peer-to-peer platforms also drive growth: Peer-to-peer marketplaces such as Grailed and Depop led the charge in 2024. Grailed’s year-over-year spend growth exceeded 180 percent, while Depop grew nearly 90 percent, driven by the companies’ convenience and social appeal. Other strong performers included Vinted and Vestiaire Collective. Omni-channel brands including Clothes Mentor and Goodwill, which invested in e-commerce, have also grown by meeting consumer demand for affordable and sustainable goods.
- Young and middle-income shoppers bolster the resale industry: Shoppers aged 25 to 44 increased their share of resale spending by over 6 percent year-over-year, with middle-income ($40,000 to $100,000) consumers emerging as a key growth driver. Resale brands Goodwill and Salvation Army, which cater to budget- and eco-conscious shoppers, are particularly well-positioned, especially as the holiday season winds down and consumers refocus on value-driven purchasing.
“Resale has established itself as a critical growth driver in the apparel, accessories and footwear industry,” said Michael Gunther, Vice President and Head of Insights at Consumer Edge. “In a challenging economic climate, brands that recognize changing consumer sentiment and align with demand for affordability and sustainability are well-positioned to thrive in this dynamic market.”
