Why The Second-hand Clothes Trade Is Minting Millions Amid The Downturn

As economic hardship continues to bite harder across Nigeria, many residents are turning to second-hand fashion items, popularly known as tokunbo or okrika, as affordable alternatives to expensive new products. The trend has also opened up lucrative business opportunities for entrepreneurs seeking quick returns on modest investments.

From fairly used clothes, shoes and bags to wristwatches, face caps and bedding materials, the second-hand fashion business has become a thriving source of income for many traders across major markets in the country.

Findings revealed that with an initial capital of about N50,000, an investor can venture into the business and potentially generate up to N200,000 weekly, depending on the quality of goods, customer base and location.

Many Nigerians who can no longer afford brand-new fashion items due to rising inflation and declining purchasing power now rely heavily on second-hand products which are considered cheaper and more accessible.

Although second-hand goods are available in several sectors including automobiles, electronics and household materials, fashion items remain one of the fastest-moving categories in the market.

Speaking with LEADERSHIP, a second-hand clothes dealer at Katangua Market in Lagos, Mr Ajayi Akowe, described the business as one of the easiest and most profitable ventures anyone could start with limited capital.

According to him, investors can begin by purchasing bales of clothes or combining them with shoes and bags for better returns.

“With N50,000, someone can start small in this business. Most boutique owners buy grade-one okrika clothes, wash and package them properly before selling them as new items in their shops across the country,” he said.

Akowe explained that success in the business depends largely on access to quality suppliers and proper sorting of products before resale.

“All a person needs is to source quality bales, sort them properly and identify the right market. One can buy unopened bales, open bales or even contribute money with other traders to buy in bulk,” he added.

Another trader, Mrs Amaka, said the growing patronage of fairly used fashion items has removed the stigma previously associated with okrika products.

“There is no reason for anyone to feel ashamed of wearing fairly used clothes because they have become the best alternative in this difficult period,” she said.

According to her, many people who purchase expensive clothes from boutiques are often unaware that some of those items are sourced from second-hand markets.

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“Some boutique owners simply buy grade-one clothes, dry clean and package them very well before placing them in their stores. How many Nigerians can afford a shirt worth hundreds of thousands of naira when they can get quality alternatives at lower prices?” she asked.

She noted that the business has become a survival strategy for many families struggling with the rising cost of living.

“In the past, people mocked okrika and called it names like ‘bend down select,’ but today the economy has changed everything. Fairly used materials are helping many Nigerians to survive,” she added.

Industry observers believe the second-hand fashion market will continue to expand as inflation and unemployment push more Nigerians towards low-cost alternatives and small-scale businesses capable of generating steady income.