Frequently updated wardrobes are costly to consumers, and they cause a serious waste of resources and environmental pollution, especially for developing economies. In the case of China, one representative emerging economy in developing economies, we explored the effects of virtual social capital on sustainable clothing consumption pattern. Taking the model of a product-service system as a theoretical reference, this research defined a sustainable clothing consumption model (SCCP) that integrates four types of clothing consumption behavior: the sale of upgraded second-hand clothing, swapping, renting, and consulting and matching old clothing. Then, we explored the effect of virtual social capital, peer influence, face consciousness, and consumer innovativeness on the behavioral intentions of a sustainable clothing consumption pattern (BISCCP). An analysis of survey data from 493 Chinese consumers showed that virtual social capital and peer influence have a significantly positive impact on BISCCP, peer influence played a partially mediating role between virtual social capital and BISCCP, and both face consciousness and consumer innovativeness negatively regulated the relationship between virtual social capital and BISCCP. Our study not only helps improve the consumers’ acceptance of SCCP, but also can be of special interest to policy makers of circular economy in developing economies.