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The Asia Pacific secondhand luxury goods market is currently witnessing strong growth. Secondhand luxury goods are high-end premium products that are bought by a second or later end user. These goods include a wide variety of products, such as jewelry, antique furniture, apparel, artwork, and fashion accessories like bags and watches. They provide economic benefits to the sellers as they can be resold in the market instead of being discarded, which also reduces the level of wastage generated.
The Asia Pacific secondhand luxury goods market is primarily driven by the rising influence of western fashion trends and improving living standards. Apart from this, with the increasing disposable incomes and the growing urban population, the demand for low-cost, high-end fashion accessories, such as secondhand luxury goods, is increasing. Besides this, the increasing adoption of luxury fashion accessories and clothing due to their increasing affordability and accessibility and the decreasing stigma associated with the use of preowned goods is catalyzing the market growth. Moreover, the availability of several international e-commerce platforms offering overseas delivery options is also escalating the sales of preowned luxury goods. On account of these factors, the market is expected to continue its strong growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific secondhand luxury goods market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, product type, demography and distribution channel.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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