ThredUp says consumers are rethinking luxury purchases
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ThredUp has released a report indicating a shift in consumer behavior, with luxury purchases being reevaluated. The resale market is expected to grow, with some projections valuing it at $393 billion by 2030, although other estimates are lower, at $78 billion. Gen Z is driving this growth, with a significant portion of this demographic opting for secondhand shopping, although issues with returns may impact customer loyalty.
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