One piece is sold every 10 seconds, and second-hand clothing is booming in Mexico
Recently, Go Trendier, a well-known second-hand clothing resale platform, released a research report on consumer trends in Mexico in 2023, revealing the current changing trends in consumer demand and behavior in Mexico. Data points out that in 2023, a second-hand clothing item will be sold on Go Trendier every 10 seconds, which is equivalent to 8,640 items being purchased every day.
Due to the expansion of Mexican consumers’ demand for second-hand clothing, Go Trendier’s second-hand e-commerce business has also ushered in a golden period of development.
As of 2023, the platform has released more than 5 million second-hand clothing and accessories, with an average of 15,200 new items added every day. In addition, Go Trendier’s business traffic meter also shows that in the past four years, the number of searches related to second-hand clothing on the platform has increased nearly 150 times, and the number of platform users has also increased from more than 400 at the beginning to 7 million.
It is worth mentioning that through the analysis of the consumption behavior of Mexican female consumers, Go Trendier also predicts that in 2024, the online sales of this second-hand resale platform are expected to increase five times, and the proportion of users aged 19 and under will also increase. will continue to rise.
The above data shows that with the increasing pressure on living costs and the popularization of sustainable and environmentally friendly concepts, Mexican consumers’ acceptance of second-hand clothing has significantly increased, and this trend will continue.
- Giants are betting
In recent years, with the support of economic headwinds and the concept of sustainable consumption, the global second-hand e-commerce market has continued to gain popularity. It is expected that by the end of 2031, the global second-hand product industry will reach US$1.3 trillion. Among them, the two major markets of Europe and the United States have a strong demand for second-hand goods. The demand is increasing day by day.
Data provided by Cross-Border Commerce Europe shows that as consumers continue to become more accepting of second-hand goods, the size of the European second-hand e-commerce market will reach 120 billion euros by 2025, an increase from 2021 (75 billion euros) 60%.
The scale of second-hand e-commerce in Europe will continue to expand in the future. Source: eShowMagazine
The latest U.S. consumer insights report released by Statista is also in perfect line with this pattern. The report pointed out that 70% of American Millennial consumers and 68% of American Generation Z consumers have purchased second-hand goods in the past year. It is expected that by 2027, the transaction volume of all online resale categories in the United States, including clothing, will exceed US$100 billion.
There are various signs that the second-hand economy is rising globally, and the business opportunities it has unleashed have also created countless e-commerce growth miracles.
As smart as Amazon, it has sensed the hidden business opportunities in the second-hand market very early. Not long ago, Amazon UK head John Boumphrey said at the opening ceremony of the “Second Chance” physical store in London that European consumers’ demand for second-hand goods has increased significantly, creating a second-hand e-commerce business with a total value of approximately US$1.3 billion for Amazon. business.
Of course, where there is a market, there is competition. Nowadays, the broad prospects of the second-hand economy are constantly confirmed, and more and more e-commerce platforms are also increasing the supply of second-hand goods. For example, eBay has 21 million second-hand products in over 140 categories, or Shein recently announced that it will launch its second-hand clothing platform SHEIN Exchange into the European market.
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