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Expand chart
Data: CivicScience; Chart: Axios Visuals

40% of Americans want to purge their closets or have done so already, according to a recent CivicScience survey.

The big picture: Clothing retailers and resale websites and apps stand to profit off of this sweeping trend.

What's happening: In the last two years, many have stocked up on comfy clothes or athleisure as they've spent more time at home. Now, they're plotting post-pandemic closet revamps.

  • Many Americans have also lost or gained weight during the pandemic, and they're in the market for new clothes that fit.
  • As a result, apparel and footwear are two of the strongest retail categories this holiday season.

This rise in closet overhauling also comes as Gen Z and millennial consumers drive a renaissance of thrift stores and secondhand shopping. So there's a big — and growing — market for the purged clothes.

Worth noting: If you're planning to donate your old clothes instead of selling them, do your research to make sure they don't just end up in a landfill and contribute to fast fashion's carbon footprint.

  • Mashable suggests donating to Goodwill or the Salvation Army because these big organizations can handle volume, and they’re less likely to get overwhelmed and throw clothes out.

Go deeper

Supreme Court agrees to hear challenge to affirmative action at Harvard, UNC

Photo: Al Drago/Getty Images

The Supreme Court on Monday agreed to hear a pair of cases challenging the consideration of race in the college admissions processes.

Why it matters: The conservative high court's ruling could determine the future of affirmative action in higher education.

Europe's energy reliance on Russia is a crucial shield for Putin

Photo: Pavel Bednyakov/Sputnik/AFP via Getty Images

Cracks in the NATO alliance regarding sanctions for Russia should President Vladimir Putin order troops into Ukraine are in large part based on energy supply concerns.

Why it matters: Russia holds tremendous leverage over some European countries because it provides roughly 40% of Europe's natural gas supply. In Germany, this figure is greater than 50%.

Why the Fed might want to jolt the markets

Fed chair Jerome Powell at a hearing earlier this month. Photo: Brendan Smialowski-Pool/Getty Images

So far, financial markets are cooperating nicely with the Federal Reserve's efforts to restrain inflation. They're doing the Fed's work for it by creating tighter financial conditions, in a distinctly non-panicky way.

  • But as the central bank's policymakers meet this week, an underlying question they face is whether the adjustment is happening too slowly.