From luxury and fast fashion retailers to independents, the current wave of economic challenges has been hard on everyone. Rising costs, a consumer spending lull, and tariffs have created a perfect storm. The resale industry, meanwhile, is doing slightly better as shoppers turn to secondhand retailers both for better prices and sustainability practices. According to ThredUp’s recent resale report, the secondhand apparel market in the US was up 14% in 2024, marking its “strongest annual growth since 2021 and outpacing the broader retail clothing market.” At Goodwill—which is sort of the holy grail of secondhand—sentiments are similar. In fact, according to David Eagles, Goodwill Industries International’s chief operating officer, the company’s retail revenue was somewhere between $6 billion and $7 billion. “We’re a real sort of solution finder in [the retail] space,” Eagles told Retail Brew, adding that Goodwill recorded close to 300 million transactions last year at its 3,300 stores across the country. Additionally, the nonprofit received nearly 120 million donations—a record high, per Eagles. Clearly, Goodwill is doing something right to maintain consumer interest in the current economy. The question is: What? Keep reading here.—JS |