- Amid supply chain woes that threatened to limit available inventory, almost half of shoppers are considering thrift instead of traditional retailers this year, according to a ThredUp survey. More than half (52%) said they're worried about their desired items becoming more expensive this year and a third said they think limited inventory will also make it harder to find gifts.
- The ThredUp survey also found that close to two-thirds (62%) of respondents believe buying secondhand gifts is more socially acceptable than five years ago. Consumers are turning to used items to save money (56%), shop more sustainably (54%) and find unique items (34%), per the survey emailed to Retail Dive.
- The report also noted that two-thirds (66%) of survey respondents are fine with receiving a used item as a gift. Among Gen Z shoppers, 72% said they are OK with receiving used items as gifts.
ThredUp's report echoes other research suggesting that consumers are worried about the COVID-19 supply chain disruptions affecting available inventory this year. A recent survey from NerdWallet found that more than two-thirds of shoppers are concerned that their big-ticket purchases won't be available due to supply chain problems.
Given that Gen Z prioritizes cost over luxury and values sustainability, the ThredUp report aligns with other research suggesting that Gen Z shoppers are more interested in secondhand goods than their older counterparts. A 2019 survey from Mercari found that nearly half of millennial and Gen Z consumers would give used items as gifts, but only a little over a third (38%) of consumers aged 55 and older would do the same. That same year, research from Deloitte indicated that Gen Z shoppers were the most likely to give secondhand goods as gifts.
Besides saving money, Gen Z shoppers may also be attracted to secondhand goods for sustainability reasons. Almost half (45%) of millennial and Gen Z consumers won't buy from environmentally unsustainable brands and retailers, per a June report from ThredUp. ThredUp's report from earlier this year also predicted that the used apparel sales market will reach $77 billion over the next five years.