“Discover the 80 Strangest Treasure Troves Unearthed in this Quirky Secondhand Facebook Group!”

"Discover the 80 Strangest Treasure Troves Unearthed in this Quirky Secondhand Facebook Group!"

However, this is still just a drop in the ocean compared to the size and breadth of the apparel market worldwide. According to Statista, the revenue in the global apparel market is estimated to reach $1.84 trillion. The largest segment of this market is women’s apparel, predicted to be around $0.96 trillion this year.

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There are some serious issues with the industry, though. For one, the BBC notes that US companies like ThredUp and TheRealReal aren’t profitable, while Lithuanian peer-to-peer fashion resale startup Vinted, which is popular in the UK, also posted a large pre-tax loss in 2022. British brand Depop also lost tens of millions in 2023.

“The problem is one of economics. With the rise of ultra-fast, ultra-cheap fashion brands, the volume of clothing produced and shipped globally continues to explode, and consumers are offloading more of it after just a few wears,” the BBC explains, noting how one 2023 study found that a large Swedish charity has to pay to have around 70% of donated clothes incinerated due to their low-quality.

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Around 40% of the clothes that are exported to Ghana, which is one of the largest recipients of secondhand fashion from Europe, is considered to be waste.

“There’s an oversupply of clothes. And it’s lowering the perceived value, and the real value, of everything,” said Liz Ricketts, co-founder and executive director of the non-profit The Or Foundation.

“We treat waste as if it is a free resource. Sure, you might give it away for free, but it takes a tremendous amount of effort and labor and skill to try to re-commodify that thing that you gave away. Reuse is based on the quality and the condition of the individual item, which means that it requires a human touch and a human eye to assess that.”

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