What is the breakup of the GCC secondhand luxury goods market based on the product type?

Based on the product type, the GCC secondhand luxury goods market can be categorized into handbags, jewelry & watches, clothing, small leather goods, footwear, accessories, and others. Currently, jewelry & watches account for the majority of the total market share.

GCC Secondhand Luxury Goods Market Share, Size and Forecast 2023-2028

GCC Secondhand Luxury Goods Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A3773

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Market Overview:

The GCC secondhand luxury goods market size reached US$ 487.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 948.9 Million by 2028, exhibiting a growth rate (CAGR) of 11.99% during 2023-2028.

Secondhand luxury goods, also known as pre-owned luxury goods, refer to premium products purchased by the second or later end user. The prices of these goods are significantly lower than the original product, due to which they attract a larger section of society. Individuals generally sell and buy used high-end products through auctions, bazaar-style fundraisers, charity events or privately-owned consignment shops.

The GCC secondhand luxury goods market is primarily driven by the rising penetration of western trends, particularly in the urbanized parts of the region. The diminishing stigma regarding the use of preowned goods, coupled with the improving trade conditions with the European countries, is also propelling the market growth. Besides this, several companies engaged in the manufacturing of luxury products have started dealing in secondhand luxury goods to maintain the unique identity of their brand and cater to the needs of the consumers. Moreover, the expanding retail sector, rising living standards and growing disposable incomes of the consumers are some of the other factors that have significantly increased the product demand.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the GCC secondhand luxury goods market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type, demography and distribution channel.

Breakup by Product Type:

Handbags
Jewelry & Watches
Clothing
Small Leather Goods
Footwear
Accessories
Others

Breakup by Demography:

Women
Men
Unisex

Breakup by Distribution Channel:

Offline
Online

Breakup by Country:

Saudi Arabia
UAE
Qatar
Oman
Kuwait
Bahrain

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Million
Segment Coverage	Product Type, Demography, Distribution Channel, Country
Countries Covered	Saudi Arabia, UAE, Kuwait, Qatar, Bahrain, Oman
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The GCC secondhand luxury goods market was valued at US$ 487.0 Million in 2022.

We expect the GCC secondhand luxury goods market to exhibit a CAGR of 11.99% during 2023-2028.

The increasing demand for high-end fashion accessories at lower prices, along with the emerging trend of re-selling unwanted luxury goods, is primarily driving the GCC secondhand luxury goods market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of secondhand luxury goods across several GCC nations.

Based on the product type, the GCC secondhand luxury goods market can be categorized into handbags, jewelry & watches, clothing, small leather goods, footwear, accessories, and others. Currently, jewelry & watches account for the majority of the total market share.

Based on the demography, the GCC secondhand luxury goods market has been segregated into women, men, and unisex. Among these, women currently exhibit a clear dominance in the market.

Based on the distribution channel, the GCC secondhand luxury goods market can be bifurcated into offline and online. Currently, offline holds the largest market share.

On a regional level, the market has been classified into Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain, where Saudi Arabia currently dominates the GCC secondhand luxury goods market.

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