Booming secondhand clothing sales could help curb the sustainability crisis in fashion

A massive force is reshaping the fashion industry: secondhand clothing. According to a new report, the U.S. secondhand clothing market is projected to more than triple in value in the next 10 years — from $28 billion in 2019 to $80 billion in 2029 — in a U.S. market currently worth $379 billion. In 2019, secondhand clothing expanded 21 times faster than conventional apparel retail did.

Even more transformative is secondhand clothing’s potential to dramatically alter the prominence of fast fashion — a business model characterized by cheap and disposable clothing that emerged in the early 2000s, epitomized by brands such as H&M and Zara. Fast fashion grew exponentially over the next two decades, significantly altering the fashion landscape by producing more clothing, distributing it faster and encouraging consumers to buy in excess with low prices.

While fast fashion is expected to continue to grow 20 percent in the next 10 years, secondhand fashion is poised to grow 185 percent.

As researchers who study clothing consumption and sustainability, we think the secondhand clothing trend has the potential to reshape the fashion industry and mitigate the industry’s detrimental environmental impact on the planet.

The next big thing

The secondhand clothing market is composed of two major categories, thrift stores and resale platforms. But the latter largely has fueled the recent boom. Secondhand clothing has long been perceived as worn out and tainted, mainly sought by bargain or treasure hunters. However, this perception has changed, and now many consumers consider secondhand clothing to be of identical or even superior quality to unworn clothing. A trend of “fashion flipping” — or buying secondhand clothes and reselling them — also has emerged, particularly among young consumers.

While fast fashion is expected to continue to grow 20% in the next 10 years, secondhand fashion is poised to grow 185%.

Thanks to growing consumer demand and new digital platforms such as Tradesy and Poshmark that facilitate peer-to-peer exchange of everyday clothing, the digital resale market is quickly becoming the next big thing in the fashion industry.

The market for secondhand luxury goods is also substantial. Retailers such as The RealReal or the Vestiaire Collective provide a digital marketplace for authenticated luxury consignment, where people buy and sell designer labels such as Louis Vuitton, Chanel and Hermès. The market value of this sector reached $2 billion in 2019.

The secondhand clothing trend also appears to be driven by affordability, especially now, during the COVID-19 economic crisis. Consumers not only have reduced their consumption of nonessential items such as clothing, but also are buying more quality garments over cheap, disposable attire.

For clothing resellers, the ongoing economic contraction combined with the increased interest in sustainability has proven to be a winning combination.

More mindful consumers?

The fashion industry has long been associated with social and environmental problems, ranging from poor treatment of garment workers to pollution and waste generated by clothing production.

Less than 1 percent of materials used to make clothing are recycled to make new

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Smartphone Accessories Market Booming By Size, Revenue And Trend In 2020 Scrutinized In New Research

The MarketWatch News Department was not involved in the creation of this content.

Nov 17, 2020 (AmericaNewsHour) —
Executive Summary

A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Smartphone Accessories Market. The report analyzes the Smartphone Accessories Market by Product Type of Smartphone Accessories (Phone Cases, Headphones/ Earphones, Screen Protectors, Battery Chargers, Power Banks and Others), By Distribution Channel (Online and Offline). The Smartphone Accessories market has been analyzed By Region (North America, Europe, Asia Pacific and Rest of the World) and By Country (US, Canada, UK, Germany, France, Turkey, China, Japan, and India) for the historical period of 2014-2018 and the forecast period of 2019-2024. 

According to Azoth Analytics research report “Global Smartphone Accessories Market: Analysis By Type (Protective Cases, Headphones, Screen Protectors, Battery Chargers, Power Banks, Car devices), By Sales Channel (Online, Offline), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) – By Region (North America, Europe, Asia Pacific, Rest of the World), By Country (US, Canada, UK, Germany, Turkey, Italy, China, Japan, India)”, global market is projected to display a robust growth represented by a CAGR of 8.16% during 2019 – 2024.

The Final Report will cover the impact analysis of COVID-19 on this industry:

Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10086145

The Headphone/ Earphones segment of Smartphone Accessories has been witnessing growth at a noteworthy rate over the past few years backed by wider availability of options which adds flexibility in decision making with its increasing usage in segments such as Fitness, Healthcare, Personal assistance etc. Amongst the regions, Asia-Pacific accounts for the largest regional share in the global smartphone accessories market in 2019. Key factors driving the robust growth rate of Asia-Pacific region include increasing tech-savvy population with the presence of vast consumer base along with rapid urbanization and digitalization, in addition to growing per capita expenditure on consumer electronics is likely to drive the regional market.

The report titled “Global Smartphone Accessories Market: Analysis By Type (Protective Cases, Headphones, Screen Protectors, Battery Chargers, Power Banks, Car devices), By Sales Channel (Online, Offline), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) – By Region (North America, Europe, Asia Pacific, Rest of the World), By Country (US, Canada, UK, Germany, Turkey, Italy, China, Japan, India)” has covered and analyzed the potential of Global Smartphone Accessories market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global Smartphone Accessories market. Additionally, the report also highlights market entry strategies for various companies across the globe. 

Scope of the Report

Global Smartphone Accessories Market (Actual Period: 2014-2018, Forecast Period: 2019-2024
? Global Smartphone Accessories Market – Size, Growth, Forecast
? By Product Type (Phone Cases, Headphones/ Earphones, Screen

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Secondhand clothing sales are booming

(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)

Hyejune Park, Oklahoma State University and Cosette Marie Joyner Armstrong, Oklahoma State University

(THE CONVERSATION) A massive force is reshaping the fashion industry: secondhand clothing. According to a new report, the U.S. secondhand clothing market is projected to more than triple in value in the next 10 years – from US$28 billion in 2019 to US$80 billion in 2029 – in a U.S. market currently worth $379 billion. In 2019, secondhand clothing expanded 21 times faster than conventional apparel retail did.

Even more transformative is secondhand clothing’s potential to dramatically alter the prominence of fast fashion – a business model characterized by cheap and disposable clothing that emerged in the early 2000s, epitomized by brands like H&M and Zara. Fast fashion grew exponentially over the next two decades, significantly altering the fashion landscape by producing more clothing, distributing it faster and encouraging consumers to buy in excess with low prices.

While fast fashion is expected to continue to grow 20% in the next 10 years, secondhand fashion is poised to grow 185%.

As researchers
who study clothing consumption and sustainability, we think the secondhand clothing trend has the potential to reshape the fashion industry and mitigate the industry’s detrimental environmental impact on the planet.

The next big thing

The secondhand clothing market is composed of two major categories, thrift stores and resale platforms. But it’s the latter that has largely fueled the recent boom. Secondhand clothing has long been perceived as worn out and tainted, mainly sought by bargain or treasure hunters. However, this perception has changed, and now many consumers consider secondhand clothing to be of identical or even superior quality to unworn clothing. A trend of “fashion flipping” – or buying secondhand clothes and reselling them – has also emerged, particularly among young consumers.

Thanks to growing consumer demand and new digital platforms like Tradesy and Poshmark that facilitate peer-to-peer exchange of everyday clothing, the digital resale market is quickly becoming the next big thing in the fashion industry.

The market for secondhand luxury goods is also substantial. Retailers like The RealReal or the Vestiaire Collective provide a digital marketplace for authenticated luxury consignment, where people buy and sell designer labels such as Louis Vuitton, Chanel and Hermès. The market value of this sector reached $2 billion in 2019.

The secondhand clothing trend also appears to be driven by affordability, especially now, during the COVID-19 economic crisis. Consumers have not only reduced their consumption of nonessential items like clothing, but are buying more quality garments over cheap, disposable attire.

For clothing resellers, the ongoing economic contraction combined with the increased interest in sustainability has proven to be a winning combination.

More mindful consumers?

The fashion industry has long been associated with social and environmental problems, ranging from poor treatment of garment workers to pollution and waste generated by clothing production.

Less than 1% of materials used to make clothing are currently recycled

Read more

Booming Healthcare Real Estate a Career Opportunity for Women, People of Color

“When you look at base salary, men still make about 10% more than women, but with annual commissions and bonuses, men on average earn $144,000 while women only earn $42,000,” said Gorham.

Healthcare real estate has been growing in recent years, but that growth has not been shared equally, as there remains a dearth of women and people of color in the sector. According to Christine Gorham, president of CREW Network (Commercial Real Estate Women), studies show the disparity in gender commissions and bonuses is a good entry to understanding the upside and lost opportunity for women and minorities.

“It’s a significant number,” says Gorham. “When you look at base salary, men still make about 10% more than women, but with annual commissions and bonuses, men on average earn $144,000 while women only earn $42,000,” a 70% gap, according to the 2020 Benchmark Study Report on Gender and Diversity CREW Network conducts with the MIT Center for Real Estate every five years. The total compensation gap between men and women is 37% for the healthcare real estate sector, compared to 34% in all of commercial real estate.

Reasons for the large commission and bonus gap in healthcare weren’t part of the study, but Gorham suggested the gap may be due to gender bias in hiring and teaming within brokerage firms, and the tendency for men to share the larger deal referrals with their male friends.

Another reason for the gap could also be due to the lack of women in senior positions, where pay is higher and compensation decisions are being made. Women represent approximately 80% of entry-level frontline workers and providers in healthcare, such as nursing positions. However, this representation decreases across the pipeline, with women making up only about 30% of line roles in the healthcare C-suite. In commercial real estate, women occupy just 9% of C-suite roles.

“If women are not in senior positions, it’s harder to effectuate change by bringing females up through the ranks and sponsoring their directions,” she said. “We need to make employers and executives aware of these startling differences—and have them look at the entire compensation package, not just salaries—to get the whole picture and take action to correct the disparities.”

Career Opportunities in Healthcare RE

Gorham, who is the director of development for CADDIS® Healthcare Real Estate, a Dallas-based top ten development, management and investment firm focused solely on healthcare, urges women and minorities to consider specializing in healthcare real estate. While COVID-19 has temporarily slowed healthcare development and has caused hospitals and physician groups to reevaluate their capital plans, acquisitions are strong, redirected capital from other real estate silos is flowing in, technology is improving the outpatient care options and the future of the sector overall is very bright, she said.

While senior-living has taken a bit of a hit as a result of the virus, much of the growth in the sector is still pegged to the 71.6 million baby boomers, who she notes are expected possibly to

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