Gen Z Customers: Why Resale Matters to Them?
The global secondhand apparel market is set to grow three times faster than the global apparel market, with Gen Z leading adoption. Coupled with the cost-of-living crisis, Gen Z will continue to power the thrift movement in search of more affordable alternatives in the year ahead.
But what’s driving Gen Z’s love for resale?
Nostalgia
Gen Z is driven by a feeling of nostalgia. It’s not about age, but mindset. Young consumers are nostalgic for a time they haven’t lived through, as a means to escape today’s harsh realities.
This generation is looking for clothes they can’t find in current collections: It is revealed that 40% of Gen Z buy pre-loved clothes because they can’t find the style anymore across traditional retailers.
Searching for fun
Anxious about a multitude of factors, from economic instability to environmental distress, young consumers are re-evaluating their priorities and looking for products and experiences that comfort them, bringing moments of happiness into their lives. Therefore resale, due to its fun and authentic nature, has become one of Gen Z's preferred consumption habits.
Cost-of-living crisis
While shopping for preloved items is a rewarding experience, Gen Z is also facing financial hurdles due to the cost-of-living crisis. With 28% of USA Gen Z aged 18 to 25 unable to save money and 32% spending 50% of their monthly income on rent, recommerce is emerging as a more affordable option for this cohort and is also more sustainable, aligning with the group’s core values.
Gen Z consumers are accelerating the growth of resale platforms which allow them to access unique fashion options but can also provide them with an alternative income stream.
Many Gen Z have adopted a “shop to sell” mindset, having grown up on some of these platforms, exchanging goods and earning an income. According to WGSN, Gen Z are selling their own pre-loved clothes to declutter (50%), for sustainability (33%) and to get extra money (56%).
What’s next in the secondhand market?
This trend combines personal style and professional identity for a fresh, playful spin on nine-to-five dressing. The key to this look is mixing thrifted and new items via eclectic DIY styling and craft-led customisation, so the purchase can take them from client meetings to midweek drinks.
Source: WGSN