Despite global economic uncertainties, retail and e-commerce sectors are thriving, revealing opportunities for innovative entrepreneurs. Trends such as K-Beauty in cosmetics and a booming secondhand market signify a shift towards sustainability and personalization. Retailers are advised to consider unique offerings like subscription boxes or concierge services and to educate consumers on product benefits. The market for secondhand goods is expanding, projected to hit $350 billion by 2028, reflecting changing consumer values towards individuals and environmental responsibility.
The global secondhand apparel market is projected to reach $350 billion by 2028, driven by sustainability concerns, economic challenges and a love for unique items.
In 2024, Korean cosmetics alone ranked first in the U.S. import cosmetics market, capturing 22% of the market with a $1.4 billion value.
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