Here’s why Argentinians are shifting to second-hand clothing

Argentina is currently grappling with a severe economic crisis marked by a staggering inflation rate of 143 per cent, pushing citizens to adapt their spending habits. Struggling with rising prices, Argentines are increasingly turning to second-hand clothing markets not only to find affordable apparel but also to generate extra income by selling their old garments.

The South American nation, ranked as the region’s second-largest economy and a significant grains exporter, is facing one of its most challenging periods in decades. With two-fifths of the population living in poverty, a looming recession is casting a shadow over Argentina’s upcoming presidential election runoff next Sunday, fueling voter frustration. Javier Milei, a radical outsider, is slightly ahead in polls for the presidential race, challenging Economy Minister Sergio Massa, the candidate of the ruling Peronist coalition.

The cost of new jeans, for instance, has more than doubled in the past year, now representing over one-third of Argentina’s monthly minimum wage. In October, the country’s annualized inflation reached 142.7 per cent, with a monthly increase of 8.3 per cent, remaining above analyst forecasts. Argentina’s long-standing battle with high inflation, attributed to money printing and a lack of confidence in the local peso, has intensified over the past year.

In response to economic challenges, many Argentinians are exploring alternative ways to make ends meet. Beatriz Lauricio, a 62-year-old semi-retired teacher, and her husband, a bus company employee, participate in clothing fairs on weekends to sell old garments. Lauricio stressed the daily necessity of their actions, stating, “We’re not doing this as a little extra so we can go on vacation to Brazil; we do it out of daily necessity.”

María Silvina Perasso, the organizer of a clothing fair in Tigre, on the outskirts of Buenos Aires, highlighted that people shop there because prices have outpaced salaries. The local monthly minimum wage, officially 132,000 pesos, is effectively halved at real street rates due to capital controls.