All aboard the thrift train — Resale market takes off like a rocket

Photo: Unsplash

8 Apr 2025

The term ‘secondonomy’ is not yet widely used, but it describes a movement of shoppers who embrace everything second-hand with gusto.

Recommerce. The second-hand economy. The thriftverse. Whatever you call it, it’s a hot market right now, and set to get even hotter.

Once upon a time, buying pre-owned goods, electronics and clothing had a certain stigma attached to it. These days, it’s a badge of savvy shopping and a triumph for wallets and the planet.

The proof is in the data: in 2023, Amazon had 310 million monthly users and eBay had 132 million. In contrast, Facebook Marketplace had 1.2 billion users. It is estimated that 491 million users log into Facebook for the sole purpose of shopping on Marketplace. For context, that’s 16% of Facebook’s total active user base, dedicated entirely to second-hand shopping.

The momentum of the second-hand market is undeniable, and its expansion shows no signs of stopping. But what’s fuelling this resale revolution? How did it go from the fringe to a full-fledged economic force? And is there anything that could slow it down?

Long tradition

It is projected that the second-hand market will be worth close to $292-billion by 2029. (Photo: Unsplash)

The concept of trading used goods is far from new. In medieval Europe, second-hand clothing markets were common, serving both economic and practical needs.

During the 19th century, the rise of industrialisation led to mass production. Making new goods became easier and cheaper, but second-hand markets persisted, particularly among lower-income populations who sought affordable options.

Organisations like the Salvation Army and Goodwill, established in the late 19th and early 20th centuries, formalised the thrift store model, providing low-cost goods while supporting charitable causes.

This early aim at lower-income earners is probably part of the reason buying second-hand became stigmatised. These shoppers were seen as poor and scrappy, like vultures picking up the discarded and unloved items of more affluent people.

But over time, as sustainability concerns grew, vintage fashion gained popularity and economic factors such as the rising cost of living shifted attitudes, second-hand shopping shook off its stigma and became more mainstream. It eventually evolved into a trend embraced by many for its affordability, eco-friendliness and uniqueness.

Today, buying second-hand is often seen as both a smart and stylish choice.

Surge in demand

As demand for second-hand products heats up across industries, businesses are left with a simple choice: either adapt to the trend or risk getting left behind.

Generation Z is responsible for leading the demand, with surveys revealing that two-thirds of this generation now actively seek out second-hand goods. This surge in demand has given rise to a new breed of tech solutions, all designed to help brands get into the resale game quickly.

Enter recommerce platforms, or as the cool kids call it, “resale as a service”. These digital lifelines help brands to set up everything from resale channels to incentive schemes that reward customers for trading in their old stuff. With built-in logistics support for receiving and fulfilling second-hand orders, these tools are making the resale process as easy as can be.

One standout example of a brand with a recommerce platform is Patagonia. The outdoor apparel giant launched Worn Wear, its own second-hand sales platform, in 2013. Through Worn Wear, customers can buy used Patagonia gear, trade in their old items or even repair their worn-out pieces.

Removing friction points from the resale process has only helped the market to grow. The US recommerce market was worth more than $200-billion in 2024, a big jump from $140-billion just four years earlier.

Projections are showing a market size of close to $292-billion by 2029, growing at a rate that is 4.4 times faster than the retail sector as a whole.

Money talks

According to OfferUp’s Recommerce Report 2024, 85% of shoppers now regularly buy and sell second-hand, with 35% trying it for the first time over the previous year. Why? Because money talks, and it’s been whispering “maybe check Marketplace first”.

OfferUp’s report reveals that value really is the name of the game. It found that the top three reasons consumers shop second-hand are all value-driven: 78% want to get a good deal, 58% want to avoid higher prices due to inflation, and 34% want to maintain their desired lifestyle while working within budget constraints. Sellers are feeling the cash crunch too, with 84% saying they’re selling their stuff to earn an extra income.

But there’s more to the second-hand surge than saving or making money. Sustainability is flexing its influence, and it’s making resale look even better. eBay’s 2024 Recommerce Report found that 63% of shoppers globally – and 71% of 25- to 34-year-olds – factor sustainability into their buying decisions. Seventy-six percent say the stigma of pre-owned goods is fading, and 41% see second-hand shopping as a status symbol.

Trust is a must

Like any fast-growing industry, recommerce has hit a few bumps along the way. A 2022 report by GlobalData tracked the resale apparel market’s meteoric rise between 2016 and 2021, but if recent company filings are any clue, some brands are cooling off on the resale hype. Although shoppers still love second-hand fashion, practical concerns are making them hesitate.

Returns? A headache. Authenticity checks? Not airtight. Shipping? A gamble, depending on the platform. OfferUp’s data backs this up: 38% of consumers steer clear of second-hand purchases because of product condition worries, 31% don’t like the return policies and 27% are skeptical about whether their orders will actually show up.

None of this means resale is hitting a dead end, but it does signal a reality check: if recommerce platforms want to keep growing, they should place trust, convenience and reliability front and centre. Because although shoppers love a good deal, nobody loves a second-hand nightmare. DM

Dominique Olivier writes at www.humanwriter.co.za

This story first appeared in our weekly Daily Maverick 168 newspaper, which is available countrywide for R35.

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Business Maverick

Long tradition

Surge in demand

Money talks

Trust is a must