Source: ThredUp 2020 Resale Report

The Signal: In a time when the overall retail sector is projected to shrink by 15%, the online secondhand sector will win big as it grows by an estimated 69% from 2019 to 2021. The secondhand market, currently valued at $28B, is projected to more than double to $64B by 2024.

One well-documented winner of the booming resale market is luxury goods. In fact, the secondhand market for luxury goods is growing 4x faster than the primary market. The high price tag and durability of high-end products make them a good fit for resale.