III. Industry Analysis
The Thrift Stores industry is estimated to grow at an annualized rate of 1.1% to $11.8 billion.
Historically, the Thrift Stores industry has relied on customers who shop for secondhand goods out of necessity. However, thrift stores are increasingly catering to a wide variety of customers who are seeking unique items, high quality goods at lower prices or to reduce their carbon footprint by recycling clothing and other goods. In addition, the cycling of trends has also contributed to demand for thrifting. Growing disposable income and consumer spending has also benefited the industry by increasing the number and size of purchases at industry establishments. Additionally, consumers are expected to increase their demand for more sustainable shopping options as environmental consciousness increases.