The resale market has been growing rapidly in recent years. A 2019 report by popular online resaler thredUP revealed there are more resale shoppers than ever before, with a five-year projection toward a $51 billion market.
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Goodwill CEO Steve Preston told FOX Business’ Stuart Varney on Tuesday that as the holiday season approaches, there is a big incentive and interest in buying resale.
“Increasingly, we're finding that shoppers are interested in buying resold goods,” Preston said.“ Accenture just came out with their annual survey of holiday shopping that showed that almost 60 percent of consumers would be interested in getting a resold good for a gift.”
Preston said this is because of two factors: the thrill of treasure hunting and eco-friendliness.
“When you donate something to Goodwill and it's resold, it keeps it out of a landfill,” he said.
Aside from buying, Goodwill donation numbers surge during the holidays, Preston said.
“It’s a time of year when people think about giving back,” he said. “And it's a terrific opportunity for us because when you bring Goodwill your donations, those donations go to great things in your communities.”
Goodwill donations often fund workforce development programs, Preston said, and help employ members of the community.