Sky-high prices and inflation are forcing many people to cut back on clothing. Americans are increasingly turning to secondhand clothing, which is becoming the new norm for many. Young people have even turned thrift stores into a profitable business.
This is reported by RBC-Ukraine, citing The Independent.
A new report from the Bank of America Institute notes that Americans aren’t just buying used items. They’re spending less money on each individual purchase. Bank analysts examined credit and debit card data. The report states: "The number of transactions involving secondhand clothing per household grew nine times faster than spending on secondhand goods in March, yet consumers across all income groups have been spending less on each purchase since April 2025."
Previously, secondhand shopping was just a social media trend. Videos of secondhand finds flooded TikTok. Now it’s a necessity, and people are trying to stretch their budgets.
Young people have turned secondhand shopping into a profitable business. For them, it’s not just “about the environment,” but also “about money.” The generation of young secondhand shop owners now accounts for 41%, while last year this figure was lower—37%.
The total number of Bank of America customers selling items has increased by 16%. People are looking for any way to make money. An old wardrobe is becoming a source of income, helping people survive in the face of constant change.
