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In the world of Save. Spend. Splurge.: Resale is on the Rise & beating Retail

https://www.thredup.com/resale/page3

I found this report on the resale market (of which I am proud member of), fascinating, particularly the part about it growing to $33B in the next 4 years and that my generation (Millennials) are motivated by the environment rather than by money, and those over 65, by the cost savings.

I’d say I’m motivated by cost savings first, then the environment as a nice bonus.

The most fascinating part of course, is the net worth of said shoppers.

Mine is hovering around the $500K mark, but between my partner and I, we’re already millionaires. He has a hang-up about secondhand (traumatized from his childhood), whereas I had secondhand clothes as a child as well but am embracing it a lot more these days.

And finally, retail is outpacing resale.

https://www.thredup.com/resale/page3



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Sherry of Save. Spend. Splurge.

I got out of $60,000 of debt in 18 months using TheBudgetingTool.com. Since then, I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K (savings rate = 85%). I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I also post daily on Instagram @saverspender.

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2 Comments

  1. Kandice

    I’ve recently learned about Poshmark (an app) that combines social, fashion, and secondhand clothing. I started a “closet” there. Users can shop other people’s closets and Poshmark does all the backend administration stuff. It’s brilliant. I’m not sure if they’re international yet, though.

    Reply
    1. Sherry of Save. Spend. Splurge.

      No 🙁 They are only American 🙁

      Reply

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