UK Second-Hand Clothing Market to Reach £4.8B as Online Thrift Shopping Grows

The UK second-hand clothing market is projected to hit £4.8 billion, driven by a surge in online thrift shopping. Nearly 66% of UK consumers purchased pre-owned goods online in the past year, with cost-saving and sustainability as key motivators. Sellers are capitalizing on the trend, further expanding the market.

Vinted, the largest online marketplace for second-hand goods, is now valued at nearly $6 billion. CEO Thomas Plantenga revealed plans to diversify into electronics and luxury items while expanding geographically. "We're taking a TON of risks," he said at Lisbon's Web Summit, aiming to build a frictionless marketplace surpassing existing platforms.

Second-hand purchases now account for 34%-45% of UK consumer spending in fashion, tech, and appliances, according to a CEBR survey of 10,000 Europeans. The sector's growth reflects shifting consumption patterns amid economic pressures and environmental awareness.