The Apparel Re-Commerce Market is likely to hold the global market at a moderate CAGR of ~24.6% during the forecast period. The global market holds a forecasted revenue of ~US$ 72.12 Billion in 2022 and is likely to cross ~US$ 652.3 Billion by the end of 2032.
The Apparel Re-Commerce market is anticipated to show promising growth prospects during the forecast period, expanding the Apparel Re-Commerce market size.
Attribute
Details
The Apparel Re-Commerce Market Estimated Size (2021)
~US$ 23.18 Billion
The Apparel Re-Commerce Market Estimated Size (2022)
~US$ 72.12 Billion
The Apparel Re-Commerce Market Projected Size (2032)
~US$ 652.3 Billion
The Apparel Re-Commerce Market CAGR (2022 to 2032)
~24.6%
Due to the increased global adoption of the internet, B2C e-commerce sales have been increasing significantly since 2010. E-commerce sales are growing with significant CAGR, making the clothes market widely reachable to customers all around the world. Some of the key e-commerce industries, such as online fashion, have been crucial in boosting demand and driving up global B2C e-commerce sales.
The market has been seeing a new trend as online apparel stores continue to expand and the need for the re-commerce of apparel rises at the same time. In recent years, the re-commerce sector for garments has been growing quickly. An online marketplace that facilitates the purchasing and selling of used clothing is called apparel re-commerce. No matter if it is footwear or another accessory, apparel re-commerce has made it simpler for customers to buy and sell. There are a number of websites and online e-commerce websites, that are providing apparel and accessories to customers with discounted prices and attractive offers, helping the market to grow.
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Availability of number of products in affordable prices, changing fashion trends and entry of multiple manufacturers are some factors boosting the market growth.
The apparel re-commerce markets are giving customers an opportunity to own their desired clothes and fashion accessories at affordable prices and without leaving the house. There are multiple facilities provided to the customers, including showcasing the products on sale. The online website has images and product information, which helps educate the customer about the product. Using these as a reference, customers can choose the size, color, and other choices for their desired products. There is also a peer-to-peer marketplace, where customers can compare the prices of the same or similar products on sale over different marketplaces or websites. Along with ease in shopping, customers can also connect to the seller directly, if they have any queries or issues related to the product. The apparel re-commerce business is growing as a result of how simple online buying is.
Many companies and manufacturers have entered and invested in the re-commerce sector as a result of the market's overwhelmingly positive response, offering a number of apparel combos, luxury goods, and reselling clothing. Supply and demand for season-specific apparel and accessories, the increasing popularity of branded apparel, and the increasing penetration of customers, especially millennials are helping the apparel re-commerce market grow.
Lack of brand loyalty, counterfeit products and exploitation of return policies are the main restraints to apparel re-commerce market.
There are some major problems faced by the apparel re-commerce market, that are limiting the market growth in many regions. The first commonly faced problem is the lack of brand loyalty. Many brands are providing quality products to customers, making sure that they do not go anywhere else. As there are multiple products available all over the market, customers do not prefer any single brand or product. Such competition and a vast number of products then lead to the weakening of brand trust and loyalty.
Some of these products are provided by counterfeit manufacturers. These products are relatively cheaper, but they also lack quality. This is another reason for weakening the trust between a brand and its customers.
High return rates of the sold products are another problem faced by the re-commerce market. when the customer is not satisfied with the product or receives the wrong product, they can return that product to the seller. There are different policies on returning the products, differing from seller to seller. Due to freedom for returns in specified days, users are exploiting these policies and returning products after using them for a few days. Due to such problems, sellers are applying no-return policies on their products, increasing complications for customers.
These problems are restraining the apparel re-commerce market.
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Country Insights
American youth is supporting re-commerce market; as new fashion trends are taking over.
Millennials and Generation Z in the US are interested in second-hand apparel products. There are multiple fashion trends in the US and updating one wardrobe from time to time is necessary. At such a time, resale marketplaces are the go-to place for American youth. Not just apparel and fashion products, there are several luxury products available for resale on these marketplaces. Due to changing lifestyles and increasing environmental awareness, Americans are embracing the apparel re-commerce market.
Chinese customers are not fans of second-hand products, social status, and superstitions are the reasons.
China is the biggest manufacturer and consumer of apparel and accessories products. There is a number of brands and counterfeit manufacturers, providing different products to customers. Even though, purchasing second-hand clothing at a low price and using them is not attracting Chinese customers. Chinese customers are ignoring the resale markets, due to their social image and superstitions related to second-hand clothing. Also, fake and counterfeit products are the biggest concern for them. Again, viral infections and health concerns are other reasons that apparel re-commerce is not popular in China.
Competitive Landscape
Some key players in the Apparel Re-Commerce market are Vestiaire Collective, The RealReal, Tradesy, Poshmark, ThredUP, Vinted, SnobSwap, Threadflip, and others. These are popular and well-known brands all over the world.
Vestiaire Collective, a popular second-hand apparel market is relaunching its brand identity in March 2022, with the motto ‘Long Live Fashion!’. They also introduced five icon puppets, promoting the use of pre-loved clothing and also showcasing the diversity of the community, loving their services. Another reason is to spread awareness about the environmental effects of throwing away clothes and the sustainable future of the fashion market.
Realreal, an authentic online marketplace for luxury goods has introduced a sustainability calculator. This calculator shows the impact of the resale of products like handbags, jewelry, and many others. The calculator calculates the carbon emission and water footprint reduction due to the resale of any specific product, indicating the positive environmental effects of second-hand products.
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Scope of Report
Attribute
Details
Growth Rate
CAGR of ~24.6% from 2022 to 2032
The base year for estimation
2021
Historical Data Available for
2017 to 2021
Forecast Period
2022 to 2032
Quantitative units
Revenue in USD Billion, volume in Units, and CAGR from 2022 to 2032
Report Coverage
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, pricing analysis
Segments Covered
Companies, Product Type, End Users, Region
Country scope
United States of America; Canada; Mexico; Germany;United Kingdom; France; Italy; Spain; Russia; India; Thailand; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa
Key Companies Profiled
Vestiaire Collective
The RealReal
Tradesy
Poshmark
ThredUP
Vinted
SnobSwap
Threadflip
Others
Customization scope
Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs.
Key Segments Profiled in the Apparel Re-Commerce Market
By Companies:
Tier-1 Companies
Tier-2 Companies
Tier-3 Companies
By Product Type:
Clothing and garments
Footwear
Accessories
Handbags
Others
By End User:
Adult
Kids
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Frequently Asked Questions
What is the current apparel Re-commerce market value?
The Apparel Re-Commerce market is expected to reach a valuation of ~US$ 72.12 Billion in 2022.
What are the key trends driving the apparel Re-commerce market?
Availability of different products from different brands, affordable prices and worldwide market reach are the main drivers for the apparel-resale market. changing lifestyles and ever-evolving fashion are other reasons that apparel re-commerce market is observing positive growth in few years.
Who are the leading players in the apparel Re-commerce market?
Leading players operating in the apparel Re-commerce market are Vestiaire Collective, The RealReal, Tradesy, Poshmark, ThredUP, Vinted, SnobSwap, Threadflip, and others.
