With the post-pandemic cost of living crisis, Gen Z will continue to promote the fashion thrift movement (buying secondhand, reselling their own items) to find more reasonable alternatives. And behind the waves of buying secondhand and reselling personal fashion items are interesting motivations and habits that promote the hobby of repurchasing.
recall
Gen Z is driven by nostalgia. It’s not about age, it’s about mindset. Young consumers look back to a time they never lived, as a means of escaping the harsh realities of today.
This generation is looking for clothes they can’t find in current collections: WGSN Barometer data (data collected from female respondents aged 16 to 74 in the UK and US from 2022, 2023 across five major resale retailers) shows that 40% of Gen Zers buy secondhand clothes because they can’t find that style anymore in traditional retailers.
Meanwhile, on TikTok, collectors and restorers like @WildernessStyler, @VintageCoachRestore and @VintageCoachie, have attracted hundreds of thousands of Gen Z views by showcasing their vintage Coach bags. Then, on the street, fans saw Olivia Rodrigo (American singer, songwriter, actress, born in 2003) happily and proudly carrying a classic Coach bag…
Find joy
Consumers have suffered record high levels of anxiety: a survey by WGSN (the trend forecasting firm) found anxiety to be the highest reported consumer emotion in 2023, by more than 70%. experienced by the respondent. Generation Z and younger Millennials are most affected as they come of age in an era of fragmentation, upheaval and instability.
Worried about a myriad of factors, from economic uncertainty to environmental disaster, young consumers are reassessing their priorities and seeking products and experiences that comfort them and bring moments of happiness to their lives.
Buying used goods and reselling personal items, due to its interesting and authentic nature, has become one of the favorite consumption habits of generation Z, led by A-list stars of the second generation. system, which makes this trend forecast to be very strong in the future
Cost of living crisis
While shopping for used items is a rewarding experience, Gen Z is also facing financial barriers due to the cost of living crisis. With 28% of US Gen Zers aged 18 – 25 unable to save money and 32% spending 50% of their monthly income on rent, e-commerce is emerging as a more affordable option. for this group and is also more sustainable, consistent with the group’s core values.
Gen Z consumers are accelerating the growth of resale platforms like Depop, Vinted, GOAT, and Grailed, which give them access to unique fashion options but can also provide them with an alternative source of income by reselling their own used items.
Many Gen Zers have adopted a “buy to sell” mindset, growing up on some of these platforms, exchanging goods and earning income. According to ThredUp and WGSN Barometer data, Gen Zers are selling their own used clothes to clean (50%), for sustainability (33%), and to make extra money (56%). And this way of consuming is not only creating waves of rich purchases, but also building a positive fashion mindset that is effective for both the market and the environment.
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