According to a report from Accenture,givers and receivers alike are increasingly embracing second-hand apparel as prospective holiday gifts this year.In its annual holiday survey, more than half said they would consider gifting thrifted presents — likewise, 56% of respondents said they would welcome such gifts, the Wall Street Journal reported.
The finding comes as the resale market continues to grow at a rate expected to reach $51 billion by 2023, according to a report by ThredUp. It also comes at the end of a banner year for the second-hand clothing industry, in which The RealReal became the first resale company to file an IPO and traditional department stores like Macy's and JCPenney have started teaming up with ThredUp to sell thrift find in select stores.
Interest in thrifted gifts mirrors consumer sentiment toward second-hand apparel, which continues to trend upward in response to demand for sustainable fashion and more environmentally conscious shopping, particularly among millennials and Gen Z.
However, though resale is most popular among younger shoppers, Accenture's study examined a comprehensive demographic of ages, and found shared enthusiasm for resale across cohorts.