Hiked-up prices, combined with wider macroeconomic issues, are sending aspirational consumers elsewhere. Namely, they’re sending them to the resale fashion market, which is reshaping the retail industry through platforms such as Vinted, eBay, Depop and Vestiaire Collective. According to data from Barclays, new clothing and accessories are the most commonly cut discretionary spend among UK shoppers. Fifty-five per cent of cost-conscious consumers have been actively avoiding new purchases since 2023.
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