PARIS — The global resale market for fashion and luxury goods is continuing to soar, projected to reach between $320 billion and $360 billion by 2030, according to a new study by Boston Consulting Group and luxury resale platform Vestiaire Collective , released Thursday.

The study, based on a survey of 7,800 Vestiaire Collective users worldwide, puts the resale market at roughly 8 percent of total fashion and luxury sales globally, with penetration expected to hit 10 percent by the end of the decade.

And with a compound annual growth rate of 10 percent, it’s expanding three times faster than primary sales and reshaping how consumers shop, especially Gen Z and U.S.-based consumers hit by inflation.

“With resale now growing three times faster than firsthand fashion and luxury, th

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