Fluctuating prices in Argentina drive masses towards second-hand clothing stores
In the heart of Argentina, a surge in the second-hand clothing market is taking place, driven by a severe inflation crisis that has been persistently affecting the country.
The key causes of this surge include high inflation and currency depreciation, as well as economic austerity measures under the current administration. Inflation in Argentina has been elevated, with a record 25.5% monthly inflation in December 2023 and continued double-digit annual inflation thereafter. This diminishes purchasing power, leading consumers to seek more affordable clothing options such as second-hand items.
Under President Javier Milei's administration, austerity measures have reduced spending power and increased poverty and unemployment, pushing many consumers toward thrift and second-hand markets. As a result, more people, including middle-class consumers, are turning to second-hand clothing for affordability and value during economic hardship.
The second-hand market often operates in informal or semi-formal sectors, sometimes complicating taxation and regulation. However, there is a potential boost to sustainability as increased use of second-hand clothes can reduce textile waste and environmental impact, although this is primarily driven by necessity rather than environmental concerns.
The ongoing inflation and economic hardship have made economic issues a focal point of political discourse. Election outcomes are likely influenced by voters’ perception of how governments manage inflation, austerity, and economic recovery. President Milei’s liberalization and austerity policies are a key part of this narrative, as his administration attempts to control inflation and restore growth amid voter pressure.
Argentines are not just buying second-hand clothes; they are also earning extra money by selling their old clothes in these markets. Ailen Chiclana, a 22-year-old student from Buenos Aires, stated that it is no longer possible to shop at the mall as one used to due to the high inflation. Beatrice Laurisio, a 62-year-old retired teacher, sells old clothes at weekend clothing fairs to make ends meet. The cancellation of a clothing fair due to bad weather significantly affected Beatrice's finances.
Argentina held national elections on October 22 this year, but no candidate won the presidency in the first round. The second round of elections will take place this week, on November 19, with five candidates competing for the top position. Among the favorites are the current Minister of Economy, Sergio Massa, and deputy Javier Milei.
In summary, Argentina's soaring inflation and challenging economic conditions have driven consumers toward second-hand clothing markets as a cost-saving strategy, reshaping consumption patterns and influencing the political landscape in the run-up to elections.
As economic hardship and inflation persist under President Javier Milei's administration, many Argentine consumers are turning to personal-finance strategies like budgeting to make ends meet. To save money, some are selling their old clothes in second-hand markets, such as Ailen Chiclana, a 22-year-old student from Buenos Aires. On the flip side, retirees like Beatrice Laurisio are earning extra income by selling their old clothing. The ongoing political discourse in Argentina revolves around economic issues, with the national elections on October 22 focusing on candidates' plans for managing inflation, austerity, and economic recovery, such as Sergio Massa, the current Minister of Economy, and deputy Javier Milei, who is also a contender. The surge in second-hand clothing sales in Argentina's informal or semi-formal sectors can be seen as a response to fashion-and-beauty and lifestyle needs in response to the challenging economic climate.
