Thrift for the Holidays: ThredUp has released a report

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ThredUp’s Thrift for the Holidays Report has been released. It reveals that almost one in every two consumers are looking into secondhand options due to concerns about supply chain.

GlobalData, a third-party retailer analytics firm, conducted the report based on a survey with 2,000 consumers. This report shows a shift in attitudes towards secondhand gifts as inflation and supply chain problems continue to plague the industry.

Another finding was that 52 percent of respondents were worried about popular gifts becoming more costly this year. One in three consumers also believed that it would be difficult for them to find gifts because of limited stock. Additionally, 62% of respondents believe secondhand gifts are now more socially acceptable.

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Converse sneakers, Lululemon trackjacks, Torrid jeans and Ugg boots were the top ten most desired thrifted items.

ThredUp offers a wide range of secondhand products, 100 percent of which are in stock and ready for shipping. “We have also been able lower our average prices to engage as many customers as possible. We are humbled to continue offering great brands at great price points during a time of price pressure in other areas of our lives,” stated James Reinahrt, co-founder and CEO of ThredUp.

Consumers are looking for cheaper deals and secondhand shopping is a popular option. Other reasons include a greater focus on sustainability, unique gifts, and a higher level of customer service. Gen Z leads the way with 72% of those surveyed saying they would be open to receiving a second-hand gift.

“It’s encouraging and amazing to see how many people are open to giving thrift gifts. We’ve heard from consumers that they are tired of holiday waste and are seeking more sustainable options,” Erin Wallace, VP integrated marketing at ThredUp, said.

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