Largely out of necessity, consumers are getting creative about stretching their dollars.
After inflation hit back-to-school budgets hard and as families are feeling the weight of holiday expectations, more are considering thrift shopping as a way to save.
“Resale continues to provide value in these uncertain times,” said Brett Heffes, CEO of Winmark, the franchisor of stores like Plato’s Closet, Once Upon a Child and Play It Again Sports.
So called recommerce grew nearly 15% in 2021 — twice as fast as the broader retail market and notching the highest rate of growth in history for the industry, according to a 2022 recommerce report by OfferUp.
While dominated by clothing resale, 82% of Americans, or 272 million people, buy or sell pre-owned products, OfferUp found, including electronics, furniture, home goods and sporting equipment, as well as apparel.
This article originally appeared here and was republished with permission.
