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Press Release:

Global Secondhand Luxury Goods Market to Witness Strong Growth During 2020-2025, Spurred by Shifting Lifestyle Preferences

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Secondhand Luxury Goods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global secondhand luxury goods market reached a value of US$ 26.89 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 10.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

Global Secondhand Luxury Goods Market Trends:

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. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global secondhand luxury goods market, along with forecasts at the global, regional and country level from 2021-2026. 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
  • Other
     

Based on the product type, 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.

Breakup by Demography:

  • Women
  • Men
  • Unisex
     

The market has been categorized based on the demography into men, women, and unisex.

Breakup by Distribution Channel:

  • Offline
  • Online
     

On the basis of the distribution channel, the majority of the secondhand luxury goods are distributed through offline channels, followed by online channels.

Breakup by Region

  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • North America
    • United States
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Others
  • Middle East and Africa
    • Turkey
    • Saudi Arabia
    • Iran
    • United Arab Emirates
    • Others
       

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, Argentina, Columbia, Chile, Peru and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Product Type, Demography, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, United States, Canada, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
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)

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 Colombia
           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$), 2015-2020
Figure 3: Global: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2020
Figure 4: Global: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2020 
Figure 5: Global: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2020
Figure 6: Global: Secondhand Luxury Goods Market: Breakup by Region (in %), 2020
Figure 7: Global: Secondhand Luxury Goods Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 8: Global: Secondhand Luxury Goods (Handbags) Market: Sales Value (in Million US$), 2015 & 2020
Figure 9: Global: Secondhand Luxury Goods (Handbags) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: Global: Secondhand Luxury Goods (Jewellery & Watches) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: Secondhand Luxury Goods (Jewellery & Watches) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Secondhand Luxury Goods (Clothing) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Secondhand Luxury Goods (Clothing) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Secondhand Luxury Goods (Small Leather Goods) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Secondhand Luxury Goods (Small Leather Goods) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Secondhand Luxury Goods (Footwear) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Secondhand Luxury Goods (Footwear) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Secondhand Luxury Goods (Accessories) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Secondhand Luxury Goods (Accessories) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Secondhand Luxury Goods (Other Products) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Secondhand Luxury Goods (Other Products) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Secondhand Luxury Goods (Women) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Secondhand Luxury Goods (Women) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Secondhand Luxury Goods (Men) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Secondhand Luxury Goods (Men) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Secondhand Luxury Goods (Unisex) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: Secondhand Luxury Goods (Unisex) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: Secondhand Luxury Goods (Offline) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: Secondhand Luxury Goods (Offline) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: Secondhand Luxury Goods (Online) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: Secondhand Luxury Goods (Online) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Europe: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Europe: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Germany: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Germany: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026  
Figure 36: France: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: France: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: United Kingdom: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: United Kingdom: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Italy: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Italy: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Spain: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Spain: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Russia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Russia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Others: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Others: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Asia Pacific: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Asia Pacific: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: China: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: China: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Japan: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Japan: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: India: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: India: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: South Korea: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: South Korea: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Australia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: Australia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: Indonesia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 61: Indonesia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: Others: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: Others: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: North America: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: North America: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: United States: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: United States: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: Canada: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: Canada: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Latin America: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Latin America: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Brazil: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 73: Brazil: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Mexico: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Mexico: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: Argentina: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 77: Argentina: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 78: Colombia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 79: Colombia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 80: Chile: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 81: Chile: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 82: Peru: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 83: Peru: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 84: Others: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 85: Others: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 86: Middle East and Africa: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 87: Middle East and Africa: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 88: Turkey: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 89: Turkey: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 90: Saudi Arabia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 91: Saudi Arabia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 92: Iran: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 93: Iran: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 94: United Arab Emirates: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 95: United Arab Emirates: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 96: Others: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2015 & 2020
Figure 97: Others: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 98: Global: Secondhand Luxury Goods Industry: SWOT Analysis
Figure 99: Global: Secondhand Luxury Goods Industry: Value Chain Analysis
Figure 100: Global: Secondhand Luxury Goods Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Secondhand Luxury Goods Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Secondhand Luxury goods Market Forecast: Breakup by Product Type (in Million US$), 2021-2026
Table 3: Global: Secondhand Luxury Goods Market Forecast: Breakup by Demography (in Million US$), 2021-2026 
Table 4: Global: Secondhand Luxury Goods Market Forecast: Breakup by Distribution Channel (in Million US$), 2021-2026
Table 5: Global: Secondhand Luxury Goods Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: Global: Secondhand Luxury Goods Market: Competitive Structure
Table 7: Global: Secondhand Luxury Goods Market: Key Players

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Key Question Answered in this Report

According to the estimates by IMARC Group, the global secondhand luxury goods market is expected to witness a CAGR of 10.3% from 2021 to 2026.

The improving consumer living standards supported by their increasing disposable income levels have enabled the millennial and urbanized population to opt for high-end fashion accessories at lower prices. These represent some of the key drivers for the global secondhand luxury goods market.

The emergence of secondhand luxury goods on online platforms coupled with the diminishing stigma of using pre-owned luxury goods represent some of the key trends in the global secondhand luxury goods market.

Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in cancellation and postponement of various bazar-style fundraisers, auctions, charity events, etc., thereby negatively impacting the market for secondhand luxury goods.

On the basis of the product type, the market has been bifurcated into handbags, jewelry & watches, clothing, small leather goods, footwear, accessories and others. Currently, handbags hold the majority of the total market share.

On the basis of the demography, the market has been divided into women, men and unisex. Among these, women represent the largest segment.

On the basis of the distribution channel, the market has been segmented into offline and online. At present, offline channel accounts for the majority of market share.

Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Europe dominates the global market.

The key companies in the global secondhand luxury goods market are 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.

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