Gen Z’s love of secondhand fashion powers eBay’s Depop growth

eBay CEO Jamie Iannone told analysts that sustainability is driving younger shoppers toward resale, with 46% of consumers aged 18 to 29 buying used goods at least every other week, compared with 28% of all consumers. Affordability also plays a role: 76% of Gen Zers said secondhand helps them manage budgets, versus 70% of all consumers. The figures come from eBay’s 2026 Recommerce Report, which surveyed 10,523 people across 10 countries including the U.S., U.K., Germany, France, and Japan. A Depop spokesperson told Fortune that Gen Z are “redefining” secondhand’s place in fashion: “they’re not just trying secondhand, they’re coming back to buy and sell again and again.”

eBay acquired the secondhand marketplace last July for $1.4 billion. Depop is becoming an important growth engine. eBay’s earnings release showed $23.2 billion in gross merchandise volume in the third quarter, up 15% year over year, and CFO Peggy M. Alford said Depop added nearly three percentage points to that growth. eBay executives reported that eBay and Depop generated $9 billion in U.S. fashion sales volume over the past 12 months, up in the mid-20% range from a year earlier, counting Depop’s sales before the acquisition. Alford said eBay is now directing more marketing resources toward Depop, and Iannone said the company is experimenting with showing Depop listings to people shopping on eBay. Iannone said eBay and Depop are being managed as a portfolio, preserving each brand’s distinct experience while exploring supply and demand synergies. The global secondhand apparel market is projected to reach $393 billion by 2030, growing twice as fast as the overall apparel market, according to ThredUp’s 2026 Resale Report.