A ThredUp warehouse.
Despite the coronavirus pandemic upending much of the retail industry and putting a damper on apparel sales, the secondhand clothing market is still expected to boom, according to one online, resale marketplace.
The secondhand apparel market is valued at about $28 billion today and is forecast to reach $64 billion within the next five years, ThredUp said in its annual report, which is completed in a partnership with the third-party research firm GlobalData Retail.
It said the resale market grew 25-times faster than the overall retail market last year, with an estimated 64 million people buying secondhand products in 2019.
“Resale is here to stay,”…