Online Resale Platforms Set to Overtake Offline Resale by 2030, Report
A recent Statista report, released December 19th, 2024 reveals a transformative shift in the United States resale market dynamics. It highlights that by 2030, online resale platforms are expected to surpass traditional offline channels significantly.
In 2020, the U.S. online resale market was valued at $56.1 billion and is projected to soar to $195.7 billion in 2030. Leading platforms like ThredUp, Poshmark, The RealReal, eBay, and Depop drive this growth, each offering unique consumer experiences from fast fashion to luxury consignment.
RB Insights
- In 2020, the online resale market in the United States was valued at an impressive 56.1 billion U.S. dollars.
- Fast forward to 2030, and this market is projected to reach a staggering 195.7 billion U.S. dollars.
- Growing preference for online platforms can be attributed to ease of access, diverse product availability, and digital marketplaces.
Major Players in the US Resale Market
- ThredUp: ThredUp’s innovative Clean Out Kits have empowered countless consumers to declutter responsibly while making it easier for them to participate in the circular fashion economy.
- Poshmark: Poshmark’s successful holiday promotions in December 2024 led to record-breaking user engagement and sales, propelled by their user-friendly app and engaging social shopping experience.
- The RealReal: The RealReal’s partnership with renowned luxury brands has instilled greater consumer confidence, evidenced by the surge in authenticated consignment items and a marked increase in high-value transactions.
Resale Consumer Behavior Trends (2024):
- Online resale shopping continues to eclipse offline alternatives due to the convenience, broader selection, and value propositions offered by platforms. Consumers are showing a preference for engaging, interactive experiences that resemble social media interactions.
- Sustainability remains a key motivator, with shoppers more inclined to purchase pre-owned items as a part of their commitment to environmental responsibility.
- There is an observable trend towards mobile commerce, with a significant portion of transactions occurring through apps, evidencing a shift towards more accessible and on-the-go shopping habits.
While offline resale channels have historically dominated the market, their growth trajectory appears more moderate. The traditional offline resale market will continue to play a role, it is clear that the future lies with online platforms. As 2030 approaches, the U.S. resale market will likely see unprecedented transformations, opening many opportunities for buyers and sellers in the digital marketplace.
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Originally published at https://retailboss.co on December 25, 2024.
