As the secondhand market flourishes, Prada is eyeing its own entry into the space.

As the secondhand market flourishes, Prada is eyeing its own entry into the space.The market for pre-owned luxury goods has surged over the last few years as young, eco-conscious shoppers look for affordable high-end goods. Now, the market is expected to reach €33 billion ($37.2 billion) this year after seeing a 65% surge from 2017 to 2021 compared to 12% for the new luxury goods market. As more luxury brands offer second-hand goods, Prada says it’s considering its own move into the space next year. YPulse research shows that 70% of 13-39-year-olds in the U.S. have changed some element of their behavior / purchasing habits due to their concerns about the environment, and secondhand shopping habits have already started to transform the retail industry. (Reuters)