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Buying resale and secondhand apparel and products have not only maintained popularity among shoppers looking for a good deal, but has become a choice contender for go-to retail purchases, especially for millennials, according to an annual resale trends report from re-commerce company, ThredUp . In its Annual Resale Report , which was released Tuesday, the major online resale company compared its user data to industry data over the past year to create the report, which covers shopping trends by demographic, the most popular purchases to buy second-hand and the future of retail and resale. Read: Best Retail Companies To Work For 2017: Top 5 Apparel And Home Goods Companies Among the reports key findings, ThredUps Resale Report charted the growth of resale. The secondhand apparel industry is said to be worth $18 billion accounting for both online and offline and is estimated to reach $33 billion by 2021, according to ThredUp. thredUP1 More ThredUp releases its Annual Resale Report for 2017. Photo: Courtesy of ThredUp When it came to purchasing secondhand online and onsite, online resale was a preferred option for shoppers, growing four times faster than offline thrifting. So what are resale shoppers purchasing? The report revealed that shoes, clothing and apparel accounted for 49 percent of purchases, while books accounted for 14 percent and electronics were 10 percent. Finally, when it came to reigning resale trends, the report looked at specific categories: The fastest-selling category was footwear, while the fastest growing category was active wear. The report also covered resale interest moreÂ… by age group. Compared to Baby Boomers and Generation-Xers, millennials and mature women were both of the likely age groups to purchase secondhand.
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