AI and US tariffs expected to fuel fresh surge in secondhand fashion sales

News Snapshot:

Artificial intelligence will spur on sales of secondhand clothing, according to the boss of one of the biggest online resale sites, after global sales rose 15% last year – more than four times faster than the wider market. Pre-loved clothing items now account for $227bn (£175bn) or 9% of total fashion sales, according to a report by analysts at GlobalData for online the clothing reseller ThredUp. The figure represents a big leap over the past five years and has led to resellers eating into the market share of major clothing retailers. Sales are expected to increase by a further 11%...