The Vintage Market

Vintage has been a long-standing part of global business, across industries including automotive as well as fashion. Within the fashion industry, the term vintage is widely classified as an item which is 20 years or older (Fashion Revolution, 2019). The sense of nostalgia associated with vintage clothing draws in consumers of all ages, and with such a vast range on offer, there is something to cater to all audiences, from workwear through to Great Gatsby-styled evening dresses and iconic designer bags.

The expansion of the vintage market is showing no signs of abating, gaining further momentum through the sustainable benefits of second-hand clothing, and the current importance of this with sustainability issues prevalent within the wider fashion industry. In 2012, the second-hand apparel global market value was estimated to be worth 11 billion US dollars, now reaching new heights, valued at 33 billion dollars in 2020. The market is showing encouraging signs of rapid growth, with Thredup and Statista predicting the market to be worth a staggering 51 billion dollars in 2023 (Statista, 2021). According to Forbes, that would mean that the resale market could command as much as 10% of the retail industry’s sales (Loeb, Walter. 2019).

The global pandemic has left consumers spending more time at home online and re-evaluating and adjusting their shopping habits in favour of more sustainable alternatives. This has led to 66 million pre-loved items going to a new home in 2020 on eBay, the same amount as the UK’s population (Wightman-Stone, 2020).