India Secondhand Luxury Goods Market to Reach US$ 1,556.2 Million by 2032, Impelled by Growing Influence of Western Fashion Trends

May 09, 2022 | Retail

The latest report by IMARC Group, titled “India Secondhand Luxury Goods Market Report by Product Type (Handbags, Jewelry & Watches, Clothing, Small Leather Goods, Footwear, Accessories, and Others), Demography (Women, Men, Unisex), Distribution Channel (Offline, Online), and Region 2024-2032,” finds that the India secondhand luxury goods market size reached US$ 618.3 Million in 2023. Secondhand luxury goods are high-end premium products that are purchased by the second or later end user. These items include antique furniture, jewelry, artworks, luxury footwear, apparel, bags, and watches. They are more cost-effective than newer products, making them accessible to a larger section of society. They also comprise an extended warranty period, which makes them suitable for the resale market. Moreover, the usage of secondhand luxury products also reduces the carbon footprint as they eliminate the dependence on raw materials and lower waste production levels.

India Secondhand Luxury Goods Market Trends:

The market is primarily driven by the rising living standards and the increasing disposable incomes of individuals. In addition, the growing influence of western fashion trends represents another major growth-inducing factor. Besides this, with the rising environmental concerns, individuals are shifting toward secondhand luxury products as they decrease the volume of waste sent to landfills. This, coupled with the increasing popularity of various international e-commerce platforms that offer overseas delivery options, is escalating the demand for secondhand luxury goods in India. Moreover, the rising utilization of advanced technologies by the key players for enhanced authentication procedures and quality checks to provide a reliable environment for the customers is also providing favorable market outlook across the country. Furthermore, the growing adoption of high-end fashion accessories and clothing, the enhanced focus of individuals toward sustainable development and the easy availability of wide range of products on online retail platforms with discounted prices are some of the other factors contributing to the market growth. On account of these factors, IMARC Group expects the market value to reach US$ 1,556.2 Million by 2032, exhibiting a CAGR of 10.5% during the forecast period (2024-2032).

Market Summary:

Based on the product type, the market has been classified into handbags, jewelry and watches, clothing, small leather goods, footwear, accessories, and others. At present, handbags represent the most popular product type.
On the basis of the demography, the market has been segmented into women, men, and unisex. Amongst these, secondhand luxury goods are mostly preferred by women.
Based on the distribution channel, the market has been bifurcated into offline and online channels. Currently, the majority of the secondhand luxury goods are distributed through offline channels.
Region-wise, the market has been divided into North India, West and Central India, South India, and East India. Presently, North India holds the leading position in the market.
The competitive landscape of the market has been studied in the report, with detailed profiles of the key players operating in the industry.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Product Type, Demography, Distribution Channel, Region
Region Covered	North India, West and Central India, South India, East India
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)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

India Secondhand Luxury Goods Market to Reach US$ 1,556.2 Million by 2032, Impelled by Growing Influence of Western Fashion Trends

Purchase options

Single User License $2699
Five User License $3699
Corporate User License $4699

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.