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From luxury and fast fashion retailers to independents, the current wave of economic challenges has been hard on everyone. Rising costs, a consumer spending lull, and tariffs have created a perfect storm.
The resale industry, meanwhile, is doing slightly better as shoppers turn to secondhand retailers both for better prices and sustainability practices. According to ThredUp’s recent resale report, the secondhand apparel market in the US was up 14% in 2024, marking its “strongest annual growth since 2021 and outpacing the broader retail clothing market.”
At Goodwill—which is sort of the holy grail of secondhand—sentiments are similar. In fact, according to David Eagles, Goodwill Industries International’s chief operating officer, the company’s retail revenue was somewhere between $6 billion and $7 billion.
“We’re a real sort of solution finder in [the retail] space,” Eagles told Retail Brew, adding that Goodwill recorded close to 300 million transactions last year at its 3,300 stores across the country. Additionally, the nonprofit received nearly 120 million donations—a record high, per Eagles.
Clearly, Goodwill is doing something right to maintain consumer interest in the current economy. The question is: what?
“No. 1 is the tradedown effect...as prices may increase, consumers [are] seeking value and knowing that they’re making a difference with their purchases,” Eagles explained, adding, “the second piece is we do see probably higher demographic groups than you would think in the space looking for those treasure hunts.”
He added that sustainability and environmental concerns were also a big part of the pull, especially among younger consumers, who Eagles confirms have been a major force behind the increase in its retail sales in recent years.
Eagles said about 80%–90% of the items consumers use are thrown away, but “they shouldn’t be thrown away. It could actually come to us, and we’re really emerging as the global product steward in the space to be able to optimize where those things go.”
Eagles hopes to continue to gather more resources for different causes through Goodwill’s retail business. And it’s also what he believes sets the brand apart both from a shopper and a donor standpoint.
“We think of secondhand as both the traditional space that we’re in, which is that great experience in brick and mortar, but it’s also the online resale space,” he said. “No one’s cracked that code, and we remain and will remain the convenient option for folks looking to donate, who are looking to make a difference.”