The purpose of this exploratory study was to discover the benefits individuals attained from participating in in‐person clothing swap parties and clothing swap Web sites. Data collection occurred through observation of five clothing swap parties, 16 in‐depth interviews with participants of swap parties, and observation of five online swap sites. The findings revealed three themes: (i) giving, (ii) receiving, and (iii) socializing. The findings suggest that the traditional consumption cycle may be broadened as clothing swaps allow acquisition and disposal to occur simultaneously. Findings also revealed the extent to which the swapping culture is contingent upon socializing.