The global secondhand luxury goods market grew at a CAGR of around 12% during 2014-2019. Secondhand luxury goods refer to the high-end and premium items that are purchased by the second or later end user. These goods commonly include antique furniture, artworks, jewelry, footwear, apparel, and fashion accessories, such as bags, watches, etc. Various luxury goods are usually durable with an extended warranty period which makes them suitable for the resale market. Furthermore, the re-selling of unwanted goods instead of discarding them also provides economic benefits to the seller. Additionally, secondhand luxury goods help in minimizing the dependence on high-quality raw materials for manufacturing new products along with reducing waste production levels. Generally, secondhand luxury goods are sold at auctions, charity events, bazaar-style fundraisers, privately-owned consignment shops, etc.
The rising consumer living standards supported by their increasing disposable income levels have boosted the market for secondhand luxury goods across both developed and emerging economies, with the millennial and urbanized population opting for high-end fashion accessories at lower prices. Additionally, the wide availability of secondhand luxury goods on online platforms along with the diminishing stigma of using pre-owned luxury goods, have further propelled the market growth. Besides this, several online resale sites are entering into strategic partnerships and alliances with luxury brands for improving the reputation of pre-owned luxury products, thereby positively influencing the market growth. Furthermore, the rising popularity of limited capsule collections and fashion drops have also created scarcity for luxury items, which in turn is catalyzing the demand for secondhand luxury goods. Moreover, various secondhand luxury platforms are increasingly investing in authentication procedures and quality checks for providing a safe and reliable environment for the customers to re-sell and buy luxury goods. All the above-mentioned factors will continue to fuel the growth of the global second-hand luxury goods market over the forecast period. Looking forward, IMARC Group expects the market to continue its strong growth during the next five years.
Breakup by Product Type:
- Handbags
- Jewelry & Watches
- Clothing
- Small Leather Goods
- Footwear
- Accessories
- Other
Breakup by Demography:
Breakup by Distribution Channel:
Breakup by Region
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- North America
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Chile
- Peru
- Others
- Middle East and Africa
- Turkey
- Saudi Arabia
- Iran
- United Arab Emirates
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being, Fashionphile Group LLC., Fendi, Garderobe, Inseller, Luxepolis, Luxury Closet, Inc., So Chic Boutique, The Closet, The RealReal Inc., Timepiece360, Vestiaire Collective, and Yoogi's Closet, Inc.
Key Questions Answered in This Report:
The global secondhand luxury goods market was worth US$ 29.4 Billion in 2019.
The inflating income levels, diminishing stigma of using pre-owned luxury goods and rising preference for high-end fashion accessories at lower prices by the millennials are some of the significant factors bolstering the market growth.
The major trends in the market include the increasing popularity of online platforms and limited capsule collections. Additionally, several resale sites are entering into partnerships and alliances with luxury brands to improve consumer sentiments toward pre-owned luxury products.
With the outbreak of coronavirus disease (COVID-19), there has been a rapid proliferation of online retail channels as they ensure proper social distancing measures. This has prompted consumers to buy secondhand luxury goods from online platforms. However, on account of the uncertain economic outlook, the sales of luxury items have declined as consumers reduce their discretionary expenses.
The global secondhand luxury goods market is expected to reach US$ 58.4 Billion by 2025.
Jewelry and watches currently dominate the market, accounting for the majority of the global market share. Other major segments are handbags, clothing, small leather goods, footwear and accessories.
The market has been categorized based on the demography into men, women, and unisex.
The majority of the global secondhand luxury goods are distributed through offline channels, followed by online channels.
Region-wise, Europe (Germany, France, Italy, the United Kingdom, Russia, Spain and others) exhibits a clear dominance in the market. Other major regions include Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), North America (the United States and Canada), Latin America (Brazil, Mexico and others), and Middle East and Africa.
Leading industry players are Fashionphile Group, LLC, Fendi S.r.l., Garde Robe Online, LLC, Inseller, Luxepolis Retail Services Pvt Ltd, Luxury Closet, Inc., So Chic Boutique, The RealReal, Inc., Timepiece360, Vestiaire Collective and Yoogi’s Closet, Inc.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Secondhand Luxury Goods Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Handbags
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Jewelry & Watches
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Clothing
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Small Leather Goods
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Footwear
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Accessories
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Other
6.7.1 Market Trends
6.7.2 Market Forecast
7 Market Breakup by Demography
7.1 Women
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Men
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Unisex
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Distribution Channel
8.1 Offline
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Online
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 Europe
9.1.1 Germany
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 France
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.1.3 United Kingdom
9.1.3.1 Market Trends
9.1.3.2 Market Forecast
9.1.4 Italy
9.1.4.1 Market Trends
9.1.4.2 Market Forecast
9.1.5 Spain
9.1.5.1 Market Trends
9.1.5.2 Market Forecast
9.1.6 Russia
9.1.6.1 Market Trends
9.1.6.2 Market Forecast
9.1.7 Others
9.1.7.1 Market Trends
9.1.7.2 Market Forecast
9.2 Asia Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 North America
9.3.1 United States
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 Canada
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Argentina
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.4.4 Columbia
9.4.4.1 Market Trends
9.4.4.2 Market Forecast
9.4.5 Chile
9.4.5.1 Market Trends
9.4.5.2 Market Forecast
9.4.6 Peru
9.4.6.1 Market Trends
9.4.6.2 Market Forecast
9.4.7 Others
9.4.7.1 Market Trends
9.4.7.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Turkey
9.5.1.1 Market Trends
9.5.1.2 Market Forecast
9.5.2 Saudi Arabia
9.5.2.1 Market Trends
9.5.2.2 Market Forecast
9.5.3 Iran
9.5.3.1 Market Trends
9.5.3.2 Market Forecast
9.5.4 United Arab Emirates
9.5.4.1 Market Trends
9.5.4.2 Market Forecast
9.5.5 Others
9.5.5.1 Market Trends
9.5.5.2 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porter’s Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Fashionphile Group LLC.
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.2 Fendi
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.3 Garderobe
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.4 Inseller
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 Luxepolis
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6 Luxury Closet, Inc.
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.7 So Chic Boutique
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.8 The Closet
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9 The RealReal, Inc.
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.10 Timepiece360
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.11 Vestiaire Collective
13.3.11.1 Company Overview
13.3.11.2 Product Portfolio
13.3.12 Yoogi's Closet, Inc.
13.3.12.1 Company Overview
13.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Secondhand Luxury Goods Market: Major Drivers and Challenges
Figure 2: Global: Secondhand Luxury Goods Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2019
Figure 4: Global: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2019
Figure 5: Global: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2019
Figure 6: Global: Secondhand Luxury Goods Market: Breakup by Region (in %), 2019
Figure 7: Global: Secondhand Luxury Goods Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 8: Global: Secondhand Luxury Goods (Handbags) Market: Sales Value (in Million US$), 2014 & 2019
Figure 9: Global: Secondhand Luxury Goods (Handbags) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 10: Global: Secondhand Luxury Goods (Jewellery & Watches) Market: Sales Value (in Million US$), 2014 & 2019
Figure 11: Global: Secondhand Luxury Goods (Jewellery & Watches) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 12: Global: Secondhand Luxury Goods (Clothing) Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: Global: Secondhand Luxury Goods (Clothing) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: Global: Secondhand Luxury Goods (Small Leather Goods) Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: Global: Secondhand Luxury Goods (Small Leather Goods) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: Global: Secondhand Luxury Goods (Footwear) Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: Global: Secondhand Luxury Goods (Footwear) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: Global: Secondhand Luxury Goods (Accessories) Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: Global: Secondhand Luxury Goods (Accessories) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: Global: Secondhand Luxury Goods (Other Product) Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: Global: Secondhand Luxury Goods (Other Product) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: Global: Secondhand Luxury Goods (Women) Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: Global: Secondhand Luxury Goods (Women) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: Global: Secondhand Luxury Goods (Men) Market: Sales Value (in Million US$), 2014 & 2019
Figure 25: Global: Secondhand Luxury Goods (Men) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: Global: Secondhand Luxury Goods (Offline) Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: Global: Secondhand Luxury Goods (Offline) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: Global: Secondhand Luxury Goods (Online) Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: Global: Secondhand Luxury Goods (Online) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 30: Europe: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 31: Europe: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 32: Germany: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 33: Germany: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 34: France: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 35: France: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 36: United Kingdom: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 37: United Kingdom: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 38: Italy: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 39: Italy: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 40: Spain: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 41: Spain: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 42: Russia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 43: Russia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 44: Others: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 45: Others: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 46: Asia Pacific: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 47: Asia Pacific: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 48: China: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 49: China: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 50: Japan: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 51: Japan: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 52: India: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 53: India: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 54: South Korea: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 55: South Korea: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 56: Australia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 57: Australia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 58: Indonesia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 59: Indonesia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 60: Others: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 61: Others: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 62: North America: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 63: North America: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 64: United States: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 65: United States: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 66: Canada: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 67: Canada: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 68: Latin America: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 69: Latin America: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 70: Brazil: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 71: Brazil: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 72: Mexico: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 73: Mexico: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 74: Argentina: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 75: Argentina: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 76: Columbia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 77: Columbia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 78: Chile: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 79: Chile: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 80: Peru: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 81: Peru: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 82: Others: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 83: Others: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 84: Middle East and Africa: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 85: Middle East and Africa: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 86: Turkey: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 87: Turkey: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 88: Saudi Arabia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 89: Saudi Arabia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 90: Iran: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 91: Iran: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 92: United Arab Emirates: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 93: United Arab Emirates: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 94: Others: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 95: Others: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 96: Global: Secondhand Luxury Goods Industry: SWOT Analysis
Figure 97: Global: Secondhand Luxury Goods Industry: Value Chain Analysis
Figure 98: Global: Secondhand Luxury Goods Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Secondhand Luxury Goods Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Secondhand Luxury goods Market Forecast: Breakup by Product Type (in Million US$), 2020-2025
Table 3: Global: Secondhand Luxury Goods Market Forecast: Breakup by Demography (in Million US$), 2020-2025
Table 4: Global: Secondhand Luxury Goods Market Forecast: Breakup by Distribution Channel (in Million US$), 2020-2025
Table 5: Global: Secondhand Luxury Goods Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 6: Global: Secondhand Luxury Goods Market: Competitive Structure
Table 7: Global: Secondhand Luxury Goods Market: Key Players