The UK’s ethical consumer market has reached £141bn, driven by a surge in the second-hand clothing sector, according to a new report by Ethical Consumer.
The Ethical Markets Report, designed as a barometer of ethical spending in the UK, reveals that second-hand clothing sales have increased by nearly 50%.
Charity shops have seen a 147% growth in sales, while pre-loved purchases have also risen by 49% to over £1.2bn with the growth of apps like Vinted, Depop and Facebook Marketplace.
The report identifies the rising cost of living as a key driver leading shoppers to seek cheaper alternatives.
Increasing concern for the environment was also a factor, with 32% of people buying second-hand clothing last year for environmental reasons, up from 28% in 2022.
The report also found that spending on electric cars has increased by 80%, while ethical banking and investment has grown by 1.5%, outstripping the mainstream financial sector.
Credit unions saw the biggest increase in ethical banking, with 13.5% growth between 2021 and 2022.
The Ethical Markets Report, which has been produced annually since 1999, was researched and produced by Ethical Consumer Research Association and was this year sponsored by the Co-operative Bank.
Co-op Bank CEO Nick Slape said: “The boom in charity shop and pre-loved clothing sales shows us that ethical and environmental concerns continue to be key in informing decisions around spending, as well as demonstrating how people can shop ethically whilst keeping prices low.
“At the Co-operative Bank, we’re committed to playing our part in protecting the environment and we’re proud to support individual, business and charity customers up and down the country in doing so too.”
You can read the Ethical Markets report in full here.
