Market Overview

The United States secondhand luxury goods market size reached US$ 6,917.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 11,410.2 Million by 2028, exhibiting a growth rate (CAGR) of 9% during 2023-2028.

Secondhand luxury goods are high-end and premium items purchased, and used by second or later end users. Some of the most common secondhand goods sold include antique furniture, artwork, apparel, footwear, as well as fashion accessories like bags and watches. These goods are suitable for reselling due to their durability and the extended warranty period that provides an economic value to the sellers. They also minimize the dependence on high-quality raw materials which are used to manufacture new products, thereby reducing the production of waste materials generated in the process.

The United States secondhand luxury goods market is primarily driven by the rising sales of preowned luxury items at various charity events, fundraisers, auctions, and privately-owned consignment shops. Besides this, several sales platforms are emphasizing on advanced authentication procedures and quality checks for offering a safe and reliable environment to their customers to resell and purchase preowned luxury goods. Apart from this, the easy accessibility of secondhand items, growing concerns regarding decreasing landfill space and diminishing stigma attached to the use of pre-owned luxury goods are some of the other factors contributing to the market growth. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States secondhand luxury goods market report, along with forecasts at the country and regional 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 Region:

• Northeast
• Midwest
• South
• West
   

Competitive Landscape:

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

Report Coverage:

Key Questions Answered in This Report:

• How has the United States secondhand luxury goods market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States secondhand luxury goods market?
• What are the key regional markets?
• What is the breakup of the market based on the product type?
• What is the breakup of the market based on the demography?
• What is the breakup of the market based on the distribution channel?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the United States secondhand luxury goods market and who are the key players?
• What is the degree of competition in the industry?