Global Secondhand Luxury Goods Market to 2028: Rising Consumer Living Standards Supported by Increasing Disposable Income Levels Bolsters Growth

DUBLIN, April 20, 2023 /PRNewswire/ -- The "Secondhand Luxury Goods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global secondhand luxury goods market size reached US$ 31.1 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 51.0 Billion by 2028, exhibiting a CAGR of 8.59% during 2022-2028.

Companies Mentioned

• Fashionphile Group LLC.
• Fendi
• Garderobe
• Inseller
• Luxepolis
• Luxury Closet Inc.
• So Chic Boutique
• The Closet
• The RealReal Inc.
• Timepiece360
• Vestiaire Collective
• Yoogi's Closet Inc.

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.

Key Questions Answered in This Report:

• What was the size of the global secondhand luxury goods market in 2022?
• What is the expected growth rate of the global secondhand luxury goods market during 2023-2028?
• What are the key factors driving the global secondhand luxury goods market drivers?
• What has been the impact of COVID-19 on the global secondhand luxury goods market?
• What is the breakup of the global secondhand luxury goods market based on the product type?
• What is the breakup of the global secondhand luxury goods market based on the demography?
• What is the breakup of the global secondhand luxury goods market based on the distribution channel?
• What are the key regions in the global secondhand luxury goods market?
• Who are the key companies/players in the global secondhand luxury goods market?

Key Topics Covered:

1 Preface

2 Scope and 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 Others
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

10 SWOT Analysis

11 Value Chain Analysis

12 Porter's Five Forces Analysis

13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/cpmns3

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