James Reinhart, the co-founder and chief executive of ThredUp, said the resale sector had continued to grow in a tough market because it was more resilient when household budgets were squeezed by higher energy and food bills.
The report found that more than half of all shoppers had bought something secondhand in the past year - although that rose to 65% of generation Z and millennials - those aged between 12 and 43. Almost two in five - 38% of consumers - said they shop secondhand to afford higher end brands.
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