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Consumers are becoming increasingly mindful about sustainability when it comes to shopping habits, and luxury retail is responding by investing in sustainable initiatives that will protect the environment while still allowing them to continue delivering luxurious items.
A rise in environmental consciousness among consumers and the cost of living crisis has enabled pre-loved and second-hand fashion businesses like Vinted to start making profits. However, this has not stopped the fastfashion industry from also continuing to grow, with brands such as Shein announcing international expansions.
Luxury retailers have traditionally depended more on their physical stores than fastfashion brands. However, evolving consumer behaviours and expectations have prompted a reevaluation of the design of those stores. Consumers now look for both exceptional products and memorable retail experiences.
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