menu_open Columnists
We use cookies to provide some features and experiences in QOSHE

More information  .  Close

Forbes Daily: The K-Shaped Economy Fuels Secondhand Clothing Shopping

10 0
24.04.2026

AI’s next training data is garbage. Literally.

Google announced a partnership on Thursday with recycling startup Mill, which makes a $1,000 “smart” trash bin, to use a dataset on food waste for training the startup’s AI algorithm. The idea is that businesses can make better decisions by knowing what food is going in the trash—for example, by ordering less of an item that is consistently discarded.

Mill’s goal is to use AI to eliminate food waste, which comprises about 30% to 40% of the food supply in the U.S. each year, per the USDA.

This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox here.

The ceasefire between Israel and Lebanon will be extended another three weeks, President Donald Trump said Thursday.

Big tech continues to shrink its workforce: Meta said it would lay off 10% of workers due to AI investments, and Microsoft began offering voluntary buyouts to thousands of employees.

The software selloff continued Thursday even as firms like IBM and ServiceNow both beat Wall Street’s estimates in first quarter earnings, as investors worry about AI disruption.

A K-SHAPED CLOTHING TREND

The “K-shaped” economic divide is showing up in how consumers are purchasing clothing—with shoppers increasingly turning to secondhand markets.

After declining for nearly three years, average spending on clothes picked up 5.1% year-over-year in March, according to a Bank of America Institute report released this week. But as traditional department stores struggle, most of the growth is focused in luxury fashion and discount apparel, the research found.

Thrifting is growing in popularity as shoppers squeezed by inflation want to stretch their budget further. Secondhand fashion transactions in March per household increased nine times faster than spending itself, though consumers have been spending less on each purchase. The U.S. market for secondhand apparel grew four times faster than the primary fashion market in 2025, according to recent research.

On the upper line of........

© Forbes