According to Racked, ‘used clothes’ is a $16 billion industry. Shoppers are being offered cash or store credit in exchange of their old clothing. Buffalo Exchange, Crossroads Trading Co., and Second Time Around are some the big players in this market segment. Customers are being offered anywhere between 30-50% of the final selling price. Luxury brands have been hit hard due to the sudden inclination of buyers towards consignment clothing chains. Read full article here.
