The United States secondhand luxury goods market is currently witnessing strong growth. 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. On account of these factors, the market is expected to exhibit moderate growth during the forecast period (2021-2026).
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 for growth at the region level from 2021-2026. Our report has categorized the market based on region, product type, demography and distribution channel.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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