In: Economics
Globalization:
need 300 words on describing how the american global cultural brand created the mitumba market ?
Mitumba is a Swahili term, literally meaning "bundles", used to refer to plastic-wrapped packages of used clothing donated by people in wealthy countries. The term is also applied to the clothing that arrives in these bundles.
Most of the Mitumba originates in developed countries such as the United States. Companies like Mid-West Textile Company of Texas purchase clothes that were donated to non-profit organizations such as Goodwill Industries.
One person’s trash can be another’s treasure, as the saying goes. And now one of the fashion industry’s fastest-growing sectors is helping prove that point.
The secondhand clothes market in the United States has grown 21 times faster than retail sales of new clothing over the past three years. It’s currently worth in the region of $24 billion and is expected to reach $51 billion by the middle of the next decade.
For many, buying secondhand clothes used to have a stigma attached: you shopped in charity shops and thrift stores when you had no alternative. Not any more. The resale market for secondhand fashion is a runaway success and it seems everyone is getting in on the act.
The growing interest in secondhand has been driven by a combination of things. One is technology, with online marketplaces allowing people to buy and sell pre-owned goods, including clothes. A new niche of micro-retailers has sprung up, dealing exclusively on the internet, and not just selling items they own, but buying in stock from other sources too: eBay, Houzz and Etsy are some of the better-known examples.
The rise of the conscious consumer is another major factor. Environmentalism has gone mainstream, informing people’s attitudes to the food they eat, how they travel and now the clothes they wear too.