SINGAPORE: The secondhand fashion space has seen a meteoric rise, with the market expected to grow more than 10 times faster than traditional retail by 2025.achieved valuations in 2021 of US$1.3 billion and US$1.6 billion respectively.
Barely five years ago, a YouGov survey found one in three Singaporeans throw away clothing after wearing it just once.Commentary: Secondhand clothing sales are booming – and could be the answer to fashion’s sustainability crisisThe Chinese New Year is a litmus test for whether old notions of “out with the old and in with the new” remain.
This belief is magnified during Chinese New Year when wearing new clothes signifies a fresh start for the new year. Despite consumers stating they care about sustainability, overconsumption is still a considerable problem. The Salvation Army recently reported the volume of donations tripling in December as households perform traditional spring-cleaning in the run up to the new year. Workers there say most items dropped off were unusable or soiled.
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