Used Merchandise Stores
Brief Excerpt from Industry Overview Chapter:
Companies in this industry sell used merchandise such as clothing, antiques, furniture, books, and jewelry. Major companies include Goodwill, The Salvation Army, Savers, and Winmark (all based in the US), Bookoff (Japan), and Oxfam (UK).
Changes in consumer buying habits and an influx of new competitors and investor money are enlarging and reshaping the market for used apparel. Resale disruptors such as thredUP, TheRealReal, and Poshmark are driving growth in the total secondhand apparel market (includes the resale and thrift and donation sectors), which is expected to more than double from $24 billion in 2018 to $51 billion in 2023. Over the past three years, resale has grown 21 times faster than the broader retail apparel market, according to Global Data Market Sizing cited in ThredUP's 2019 Resale Report. Style- and sustainability-conscious millennials and Generation Z are driving growth, with 18 to 37-year-olds adopting secondhand apparel 2.5 times faster than other age groups. More recently, widespread unemployment and economic hardship caused by the COVID-19 pandemic should favor secondhand sales as consumers look to save money.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include used clothing, footwear, and accessories (about half of sales), media and electronics (20%), used books (about 15%), and used furniture, appliances, and other home furnishings (about 8%). Other products include antiques and home entertainment and recreation items.
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