Posted 3/2/2024, 12:20:15 PM
Donation Deluge: Why the Booming Second-Hand Clothing Market is Struggling to Turn a Profit
- The second-hand clothing market is booming in popularity, but companies are struggling to turn a profit
- There is an oversupply of low-quality clothing donations, making it labor-intensive and costly to sort and resell
- Rising processing costs mean second-hand clothes sometimes end up priced higher than new items
- The industry relies heavily on profits from fast fashion to subsidize the sale of used clothing
- Experts say more infrastructure, regulation, and reduced new clothing production could help make second-hand profitable