thredUP Releases Holiday Survey Revealing that Shoppers are Forgoing Black Friday to Shop Earlier – and More Mindfully
More than half of those surveyed refuse to pay full price this holiday season. thredUP releases holiday survey revealing shoppers are seeking out secondhand to save.
OAKLAND, Calif. October 26, 2023 -- thredUP, one of the largest online resale platforms for apparel, shoes, and accessories, today released its 2023 Holiday Report conducted by third-party retail analytics firm GlobalData.* The report, based on a survey of U.S. women 18 years and older, demonstrates how shoppers are turning to thrift as inflation, student loans, and other financial pressures weigh on shoppers’ budgets. A 'Mindful Moms' cohort also emerges, as data indicates that moms are more likely to consider their consumption and choose sustainable options -- including secondhand.
“At thredUP, we believe in helping consumers move away from mindless consumption and toward thoughtful purchasing behavior. The holidays are historically a time where the temptation to buy more can become overwhelming. However, the data is encouraging, pointing to a more sustainable future where we collectively create less waste -- saving our dollars, our time, and our planet. There is a rising tide of people choosing used for themselves, their friends and families, not only to save money but also to find extra special gifts for their loved ones.” - Erin Wallace, VP of Marketing, thredUP
Key Insights from thredUP's 2023 Holiday Report
Shoppers say Black Friday is over. Embracing 'Holiday Creep' May Actually Equal Less Stress.
More than half of shoppers say they’ve already started shopping or plan to in October.
Moms in particular are starting early: Nearly 70% say they’ve already started shopping or plan to in October.
#1 reason why? To avoid the stress of last minute holiday shopping
Nearly two thirds of those surveyed (& 70% of moms) say they don’t plan to shop on Black Friday or Cyber Monday.
Wallets are tightening amid inflation this holiday season:
More than 1 in 3 shoppers plan to spend less than last holiday season. The top 3 reasons why:
Inflation: 62% of shoppers say inflation is forcing them to shrink their holiday budget.
Gas Prices: 1 in 2 shoppers say gas prices are impacting how much they can spend this holiday season.
Reduced Income: Nearly half of shoppers say their household income decreased this year, and it’s impacting their holiday budget.
More than 1 in 4 shoppers say student loans are impacting how much they can spend this holiday season. Gen Z are hit particularly hard – 47% say student loans are impacting how much they can spend.
Value is shoppers’ top priority, driving them to secondhand:
More than half of shoppers refuse to pay full price this holiday season.
Shoppers are prioritizing value this holiday season: nearly 1 in 2 shoppers say price is most important to them when shopping this year.
More than 1 in 3 shoppers say they plan to shop secondhand this holiday season. The top 3 reasons why:
Value: To save money & get better deals on higher end brands
Uniqueness: To get more one-of-a-kind gifts
Sustainability: To be more eco-friendly
More than 1 in 2 moms say they plan to shop secondhand this holiday season, prioritizing value and sustainability more than the average shopper.
The eco-impact of shopping weighs on the collective consumer conscience:
78% of shoppers say they want to be less wasteful this holiday season.
79% of shoppers say they want to be more mindful of what they buy this holiday season.
Nearly half of shoppers say they feel more aware of how their shopping habits impact the environment.
Mom ‘gifting guilt’ is real:
Nearly 60% of moms say they feel guilty when they shop too much – more than any group surveyed.
Nearly two thirds of moms feel more aware of how their shopping habits impact the environment.
thredUP Data Reveals the Top 10 Thrifted Items Topping Wish Lists this Year
thredUP has millions of like-new, gift-worthy items available to shop at up to 90% off retail value. From classic gifts to TikTok trends, value to luxe, these are the hottest items selling the fastest on thredUP right now. Based on analyzing thredUP’s 55,000+ brands and 100+ categories to determine the brands and styles in the highest demand over the past month.
Head to thredUP’s Holiday Shop filled with millions of thrifted holiday looks at up to 90% estimated retail prices.
*About thredUP’s 2023 Holiday Report
This report contains research and data from GlobalData, a third-party retail analytics firm. For the purpose of this report, GlobalData conducted a nationally representative survey of 2,090 U.S. women (18 years and older) in October 2023 asking specific questions about their holiday shopping behaviors and preferences for secondhand.
Disclosure: All third-party brand names and logos appearing in this report are trademarks or registered trademarks of their respective holders. Any such appearance does not imply any affiliation with or endorsement of thredUP.
About thredUP
thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest online resale platforms for apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. With thredUP's Resale-as-a-Service, some of the world's leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. thredUP has processed over 172 million unique secondhand items from 55,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.
