As thrifting is becoming more popular, traditional retailers are looking for ways to get a piece of the growing $53B used clothes trade. According to Capital One research, secondhand clothing sales are anticipated to continue rising 11% annually through at least 2028. Brands such as H&M, American Eagle, Kate Spade and Banana Republic are among those who have launched or are planning to launch resale programs in recent years.
There are over 25,000 used clothing stores in the United States with upscale consignment shops preferring Class-B shopping centers or better, while thrift stores often are in Class-C spaces. Weitzman Vice President Robin Barrow noted these concepts are attractive to landlords as secondhand stores stay busy all day. continue