While high-end clothing brands with shops that line the Magnificent Mile typically come to mind when thinking of brands that command the best resale prices, but the biggest money-makers could already be hanging in your closet.
According to an annual industry report from ThredUp, relatively more affordable brands such as Zara, Urban Outfitters and Abercrombie & Fitch are among the brands with the highest resale value now.
The same report revealed that the used clothing market is expected to expand to $70 billion annually by 2027, up from current levels of around $44 billion.
The trend is particularly potent among younger shoppers according to ThredUp, with 83% of younger shoppers contacted having bought or open to buying used clothing.
The sizable increase in value for more affordable brands reflects the role inflation has played on the pricing of secondhand goods, pushing the price of luxury apparel even higher on the used market.
According to ThredUp, this has led the used market to shift even more towards value purchases, bringing younger shoppers more toward affordable prices for mid-tier brands such as Nike and J. Crew.
Industry experts have also pointed out the actions mid-tier brands have taken to stay contemporary and compete with luxury brands.
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