Gen Z’s obsession with secondhand clothes is paying off for eBay as its fashion sales with Depop hit $9 billion over the past year

Gen Zers certainly have a penchant for the past, reviving so-called “ grandma” hobbies like collecting vinyls, crocheting, making pottery, and birding in their quest to get offline. An unlikely beneficiary of this new yearning has been eBay, which recently acquired secondhand marketplace Depop for $1.4 billion in July, and is now cashing in on Gen Z’s appetite for thrifting clothes. The e-commerce platform’s executives reported on Wednesday’s Q3 earnings call that eBay and Depop generated $9 billion in U.S.

Source: Fortune Crypto