Money saving is now the main driver for students buying second-hand clothing, with 76% of Gen Z second-hand clothes shoppers aiming to cut spending according to the new fashion report from UNiDAYS, the world’s leading Gen Z affinity network that enables students and graduates to discover savings.
With 75% of students stating they now buy pre-loved clothes, the 2023 fashion report is a clear indicator that, aided by rising living costs, pre-loved is here to stay.
The second-hand market is predicted to grow 127% by 2026, and with nearly half of Gen Z students (47%) preferring in-store shopping, developing a pre-loved offer could be the smartest move retailers make in 2023. Popular online and high street shops like ASOS and LK Bennet are leading the charge, embracing pre-owned and vintage fashions online and offline, as Gen Z returns to the high street.
With cost at the forefront of students’ minds, the shift to pre-loved purchases is perhaps unsurprising as Gen Z expects to save over 30% by buying second-hand clothing.
Gen Z-ers are also challenging brands to align with their changing behaviour and values; nearly two-thirds of students (69%) think brands should reward those who shop for pre-loved items through discounts provided by UNiDAYS or directly through retailers.
With new behaviour comes new opportunity, and as the pre-loved market grows, entrepreneurial students are seeking to boost their bank balance by finding and selling the best deals on the market. Over a third of students (37%) are now selling their used clothes online.
For the majority (91%) this is driven by the need to make money. However, the environmental impact of clothing also remains one of the main priorities for students, with 72% of resellers stating sustainability as a reason for reselling their clothes.
More broadly over half of Gen Z (56%) see the environmental impact as a driver for purchasing pre-loved.
“We have spent over a decade building our relationship with students and an in-depth understanding of student needs. As living costs continue to challenge students, we want to shine a light on emerging consumer groups and enable brands to tie into their ambition of buying the things they love while giving back to the environment through more sustainable shopping.” says Alex Gallagher, Chief Strategy Officer at UNiDAYS.
“With three-quarters of students now buying second-hand clothing, the market demand, and thus opportunity is there for brands who embrace pre-loved.. For most brands, this also means developing an in-store offer as nearly half of students prefer shopping on the high street.”
