Young consumers are buying used stuffed as Christmas gifts. Secondhand sales are expected to grow to $51 billion by 2023, and resale businesses are gearing up for “their biggest holiday season yet.” The stigma around “used” gifts is disappearing and according to Accenture, nearly half of U.S. consumers would consider giving used apparel as a gift this year. ThredUp reports that a full 80% of Gen Z shoppers plan to give thrifted items as gifts. Corporate brands like Neiman Marcus and JCPenney are getting in on the action by investing and partnering with ThredUp, the RealReal, and other resale companies. (Bloomberg)
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