second hand fashion
Lifestyle, Style & Fashion

What Goes Around Comes Around!

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Lifestyle and Fashion

What Goes Around Comes Around!

Believe it or not, the average Canadian throws out 81 pounds of textiles annually! North Americans together manage to send 10 million tonnes of clothing to the landfill every year — most of which could be reused or recycled, according to statistics compiled by Waste Reduction Week in Canada.

But things are changing!

Second-hand luxury fashions are not only going mainstream, the acceptance of pre-owned goods is becoming more widely accepted around the world. Not surprisingly, the younger generations are leading the charge with more conserving habits. They are doing it 2.5x faster than any other age group.

As more and more people get serious about ways to support the environment, the push to buy more affordable used items makes sense. If they can find a high-quality product for much less, all the better!

And why not? Buying one used item reduces its carbon footprint by 82%, says research firm Green Story Inc. With textile production is set to account for 25% of all global carbon emissions by 2050, any move toward a recycle economy would be beneficial.

As a result, the fashion resale market is exploding. The second-hand economy—a $24 billion market as of 2018— is projected to grow to nearly 1.5 times the size of fast fashion. In fact, it’s been growing 21 times faster than the retail market over the past three years, according to research from retail analytics firm GlobalData.

Texture Waste InfoGraphic

BY THE NUMBERS – NORTH AMERICA

  • In 2019, 72% of second-hand shoppers shifted away from traditional retailers to buy more used items
  • Luxury resale is expected to grow at an average rate of 12 % per year through to 2021
  • In the U.S., alone, 50 percent of luxury customers participate in the resale market
  • 72% of consumers prefer to buy from environmentallyfriendly brands
  • 60% would increase loyalty to a brand if a recycling program was offered
  • The average number of items in consumers’ closets is declining
  • 9 in 10 retail executives say they want to get into resale market by 2020

Sources: Reports by KD Market Insights, GlobalData

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