International Day for the Eradication of Poverty

Eradication of Poverty is Sustainable Development Goal #1.  The secondhand clothing industry contributes directly and indirectly to the eradication of poverty. According to an independent research, by 2040, 3 million jobs will be created by the secondhand clothing industry in Guatemala, El Salvador, Nicaragua, and Honduras. 1.3 million jobs will be generated in Guatemala alone by the secondhand clothing industry.

Indicators of how the secondhand clothing industry supports the eradication of poverty

1. Affordable Clothing Access: Secondhand clothing is more affordable than buying brand-new clothing. This affordability makes it easier for individuals and families living in poverty to access clothing, which is a basic necessity. When people can purchase clothing at a lower cost, it frees up their limited resources for other essential needs such as food, housing, and healthcare.
2. Reduces Living Expenses: By choosing secondhand clothing, individuals and families can reduce their overall living expenses. This is especially beneficial for low-income households, as it helps them stretch their budgets and improve their financial stability. The money saved on clothing can be used for education, skills development, or other investments that can break the cycle of poverty.
3. Job Creation and Economic Opportunities: The secondhand clothing industry provides job opportunities in various sectors, including thrift stores, recycling centers, and online marketplaces. People involved in collecting, selling, and repairing secondhand clothing can earn a livelihood. This can contribute to poverty reduction by creating employment opportunities, particularly in communities where formal job opportunities are scarce.
4. Encouraging Thrift and Financial Literacy: Shopping for secondhand clothing encourages thrift and financial literacy, which can help people make better financial decisions and manage their resources more effectively. These skills are essential for escaping poverty and building financial security.

The affordability and accessibility of secondhand clothing can play a role in improving the well-being of individuals and families living in poverty.