Mastercard Economics Institute: Circular Fashion Is Sew on Trend
Mastercard Economics Institute
Secondhand, pre-loved, pre-owned, upcycled – no matter the stitch or state, the circular fashion market is gaining popularity, according to the Mastercard Economics Institute. Shoppers are increasingly choosing circular items across price points, driven by savings and environmental benefits. Increasing its relevance, the market may be more immune to policy and global trade impacts since new product creation is not involved, a key element that could further fuel consumer appeal.
In addition to gaining market share, circular fashion has different seasonality trends than the broader retail space and is concentrated in cities. Using aggregated and anonymized Mastercard data, these spending trends and impacts are explored in more detail as a key part of the online apparel sector.
Read the full report from the Mastercard Economics Institute
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