‘Thrifting’ Extends to Holiday Shopping Too
Roughly 17% of gifts this holiday season will be a resold item, according to Salesforce data
Roughly 17% of gifts this holiday season will be a resold item, according to Salesforce data
A new kind of present is gaining acceptance this holiday season. More consumers are picking secondhand items to gift each other, finding it to be an environmentally and budget-friendly option.
Thrift stores that sell used clothes and goods are springing up online and on street corners. Goodwill Industries International, the nonprofit behind the familiar chain of thrift stores, is ramping up its online efforts. Fashion brands are developing their own resale offering to keep up with clothing-reseller sites such as Depop and Poshmark. Roughly 17% of gifts this holiday season will be a resold item, according to software firm Salesforce.
“Consumers are choosing resale first because of the incredible value, the unique merchandise, and the incredible sustainability benefit,” said Matt Kaness, chief executive of GoodwillFinds, the nonprofit’s online e-commerce platform run in partnership with Salesforce.
Secondhand clothes, once seen as frumpy and embarrassing, are now keenly sought out by the fashion conscious. A popular vintage aesthetic dovetails with consumer calls for goods that do less harm to the world. About 85% of American shoppers have bought or sold preowned items over the past year, nearly a third for the first time, according to online marketplace OfferUp’s Recommerce report. In apparel alone, some 10% of the global market will be secondhand by next year.
GoodwillFinds is the only major nonprofit player in resale.
GoodwillFinds’ online platform allows a smarter operation than the traditional bricks-and-mortar store, said Kaness, formerly an executive with retailers including Walmart and Urban Outfitters. The platform uses artificial intelligence and large data sets to more accurately price and categorise items, creating a much more efficient system, Kaness said.
“In a store, it’s a human looking at the item. They have paper sticker tickets for the price and they have to process such a volume that it is somewhat random,” he said. In contrast, the company’s online system uses computer vision to take a picture, identify the item, create a listing and price it.
Moving online is the logical choice for secondhand sellers, said 25-year-old Brooke Bowlin, who runs lifestyle blog Nuance Required. “Secondhand stores just can’t sell enough,” said Bowlin, who started her own thrift store in Siloam Springs, Ark. “By moving online and expanding the audience, there is an opportunity to re-home more clothes,” she said.
Major fashion brands are also increasingly recognising that secondhand is as much a necessity as it is an opportunity. The fashion industry is responsible for up to 8% of global emissions, relying on resource-intensive raw materials and fast-moving trends that have contributed large amounts of waste. Around 11.3 million tons of textile waste go to landfills in the U.S. every year, according to environmental organisation Earth.Org.
Outdoor-clothing retailer Patagonia established its Worn Wear platform in 2017, one of the first resale channels by a major brand.
As much as adapting to trends, Patagonia Worn Wear aims to change consumer behaviour, said Asha Agrawal, managing director of the Patagonia venture fund that runs the platform.
“A lot of our messaging is around—‘you don’t need to buy something new,’” she said.
Worn Wear buys back used brand gear from consumers by paying higher prices than peer-to-peer apps or other marketplaces, Agrawal said. This strategy contributes to the bulk of the platform’s costs but also boosted its inventory fourfold this year alone, she said, adding Worn Wear has been profitable for the last two years.
Worn Wear is now integrated into the Patagonia brand. “You can now do your main shopping with Patagonia with our resale business in the U.S.,” she said. “That’s a huge evolution for us.”
Resale by brands and third parties is expected to outpace traditional thrift sales and donations in the U.S., rising to 60% of a $70 billion total by 2027 from 15% of the $20 billion secondhand market in 2017, according to online thrift store ThredUp’s recent resale report.
Other fashion players have their versions. Sweden’s Hennes & Mauritz launched H&M Pre-Loved in the U.S. this year, in partnership with ThredUp. Inditex-owned Zara has launched a preowned platform that offers repair services, customer-to-customer sales and donations of used garments in the U.K. and France, with plans for a U.S. rollout by 2025.
Resale remains an imperative for fashion brands as a way to control distribution and retain the trust of shoppers increasingly alert to the fate of their old clothes. However, scaling up resale generates a raft of operational challenges such as authentication, returns and ensuring that secondhand doesn’t look like an afterthought, said Anita Balchandani, fashion lead at consultant firm McKinsey & Co.
Unlike nonprofits, such as Goodwill, that get their inventory from donations and don’t have to be accountable to shareholders, retailers are struggling to make business sense of resales, Balchandani said.
“No one has proven the path to scaling this up profitably,” she said. “You almost have to create a whole new end-to-end supply chain…. The retailer who cracks that journey is going to make a real difference in this space.”
Early indications from several big regional real-estate boards suggest March was overall another down month.
Art can transform more than just walls—it shapes mood, evokes memory, and elevates the everyday. Discover how thoughtfully curated interiors can become living expressions of personal meaning and refined luxury, from sculptural furniture to bespoke murals.
For self-employed Australians, navigating the mortgage market can be complex—especially when income documentation doesn’t fit the standard mould. In this guide, Stephen Andrianakos, Director of Red Door Financial Group, outlines eight flexible loan structures designed to support business owners, freelancers, and entrepreneurs.
1. Full-Doc Loan
A full-doc loan is the most straightforward and competitive option for self-employed borrowers with up-to-date tax returns and financials. Lenders assess two years of tax returns, assessment notices, and business financials. This type of loan offers high borrowing capacity, access to features like offset accounts and redraw facilities, and fixed and variable rate choices.
2. Low-Doc Loan
Low-doc loans are designed for borrowers who can’t provide the usual financial documentation, such as those in start-up mode or recently expanded businesses. Instead of full tax returns, lenders accept alternatives like profit and loss statements or accountant’s declarations. While rates may be slightly higher, these loans make finance accessible where banks might otherwise decline.
3. Standard Variable Rate Loan
A standard variable loan moves with the market and offers flexibility in repayments, extra contributions, and redraw options. It’s ideal for borrowers who want to manage repayments actively or pay off their loans faster when income permits. With access to over 40 lenders, brokers can help match borrowers with a variable product suited to their financial strategy.
4. Fixed Rate Loan
A fixed-rate loan offers repayment certainty over a set term—typically one to five years. It’s popular with borrowers seeking predictability, especially in volatile rate environments. While fixed loans offer fewer flexible features, their stability can be valuable for budgeting and cash flow planning.
5. Split Loan
A split loan combines fixed and variable portions, giving borrowers the security of a fixed rate on part of the loan and the flexibility of a variable rate on the other. This structure benefits self-employed clients with irregular income, allowing them to lock in part of their repayment while keeping some funds accessible.
6. Construction Loan
Construction loans release funds in stages aligned with the building process, from the initial slab to completion. These loans suit clients building a new home or undertaking major renovations. Most lenders offer interest-only repayments during construction, switching to principal-and-interest after the build. Managing timelines and approvals is key to a smooth experience.
7. Interest-Only Loan
Interest-only loans allow borrowers to pay just the interest portion of the loan for a set period, preserving cash flow. This structure is often used during growth phases in business or for investment purposes. After the interest-only period, the loan typically converts to principal-and-interest repayments.
8. Offset Home Loan
An offset home loan links your savings account to your mortgage, reducing the interest charged on the loan. For self-employed borrowers with fluctuating income, it’s a valuable tool for managing cash flow while still reducing interest and accelerating loan repayment. The funds remain accessible, offering both flexibility and efficiency.
Red Door Financial Group is a Melbourne-based brokerage firm that offers personalised financial solutions for residential, commercial, and business lending.
A television producer sold the property to two separate buyers; one paid $57 million for the main house, and the other bought a smaller parcel for $29 million.
The Mayfair home, listed for £8.25 million, once belonged to the Earls of Lindsay.