US President Trump’s trade war with other countries is having an unexpected effect on the secondhand market. Industry experts predict a surge in sales at stores selling used clothes, shoes, and accessories as consumers look for bargains to cope with price hikes.
The Yale University Budget Lab estimates that prices for clothes will rise by 65% and leather goods by 87% due to US tariffs. This could drive shoppers to online resale sites, consignment boutiques, and thrift stores in search of affordable alternatives.
According to Kristen Classi-Zummo, an apparel industry analyst at Circana, the resale market is poised for growth despite declining sales overall. “Resale is going to grow in a market that is declining,” she said. “Channels that bring value will win.” This suggests that secondhand retailers who offer unique experiences and competitive prices will be the ones to benefit from the trade war’s impact.
Source: https://www.newser.com/story/367528/one-group-that-may-reap-tariffs-benefit-thrift-shops.html