A new BMO survey reveals that 28% of Americans plan to reduce spending in 2025. Entrupy CEO and Co-Founder Vidyuth Srinivasan joins Wealth! to discuss the outlook for luxury retail amid this development.
Srinivasan notes stability in the luxury resale market, stating: "In a down market, people want more liquidity, so they tend to sell more, and in an upmarket, there’s more accessible buyers, so you always end up seeing the market grow."
However, Srinivasan highlights a concern that the lack of regulation in the space has led to "a lot of unauthorized, unethical and straight up counterfeit sellers." He emphasizes that trust is one of the biggest "subconscious aspects of consumer purchases." While pointing to AI as a potential solution for detecting counterfeits, he notes, "You need great technology, but you also need distribution." He warns that counterfeit sales are a global issue, and with the rise of the digital era, "the problem is getting worse and worse."
Regarding counterfeit prevention, Srinivasan advises consumers to shop from verified businesses with authentication certificates, noting, "It’s almost like insurance for the consumers."
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