Poshmark will hold the first-ever Secondhand Sunday, the first-ever day dedicated to supporting circular fashion during the peak holiday shopping season.
Secondhand Sunday will be held on November 27, the first Sunday following the busy Black Friday and Small Business Saturday shopping days.
The new holiday season shopping day was conceived in response to two key consumer trends that have significantly shaped buying this year; inflation and environmental sustainability.
New research commissioned by Poshmark found:
- More than 90% of US adults are open to receiving a secondhand or resale gift this holiday season – but only a third (34%) are likely to buy them for others, suggesting a massive opportunity to close the gap.
- About two in five consumers are concerned inflation will make holiday shopping more expensive this year, so finding better deals is the top reason they plan to shop secondhand or resale.
- When it comes to shopping secondhand this holiday season, the top motivator is to find deals (60%), especially on luxury (42%) and unique/vintage items that can’t be found elsewhere (54%).
- Compared to other groups, significantly more Gen Z’ers (55%) are likely to buy secondhand gifts for friends and loved ones this holiday season. Affordability, sustainability and supporting local communities are key drivers in their decision to gift secondhand.
Secondhand Sunday is not a one-off promotion, but one that Poshmark believes will continue.
“The future of fashion is in your closet, and Secondhand Sunday is just one of the ways we invite people to embrace secondhand shopping and make their gifting more personal this holiday season,” said Manish Chandra, Founder and CEO of Poshmark, Inc.
Consumer buying habits are changing, especially among younger generations, as the survey showed.
“As more consumers realize the benefits of shopping secondhand, Poshmark sellers are here to serve them with gifts and value they can’t find anywhere else.”
“We want to promote and celebrate the idea that our sellers’ virtual closets are the new must-see holiday storefronts, and invite consumers across the nation to choose secondhand, on Secondhand Sunday and all year long,” added Chandra.
Poshmark is a leading online marketplace promoting sustainability and the circular economy to keep items out of landfills. Future Secondhand Sundays will be held on the first Sunday after Thanksgiving.
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