Explainer: How Vinted is transforming the second-hand fashion market [Yahoo! Finance]
ThredUp Inc. - Class A (TDUP)
Company Research
Source: Yahoo! Finance
It analysed the results alongside independent analysis from climate technology start-up Vaayu, shedding light on the growing second-hand market for apparel. Research from the Waste and Resources Action Programme (WRAP) found that there were 1.6bn items of unworn clothing in UK wardrobes alone, making the second-hand market a key resource. Vinted's CEO Thomas Plantenga said the findings show second-hand fashion has the potential to become “the first choice” for consumers in Europe. “These findings encourage us to continue to invest in making second-hand easy and accessible to everyone in society. However, despite this positive trend, second-hand remains a very small part of the fashion market. Thus there is lots of work and potential ahead of us.” Which consumers are buying and selling second-hand clothing? Millennials are Vinted's biggest market, making up 44% of the marketplace's users, followed by Gen X who make up 32% of users. Vinted found Millennials were most likely
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