The global second-hand luxury goods market is expected to grow at a CAGR of around 13.1% during 2024-2033. This report on global second-hand luxury goods market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape. The report presents a clear picture of the global second-hand luxury goods market by segmenting the market based on product type, demography, distribution channel, and region. Also, detailed profiles of companies operating in the second-hand luxury goods market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision.
Market Drivers
With the increasing focus on sustainability and the rising concern towards protecting the environment, the demand for secondhand luxury products have increased. Firsthand items contribute to companies creating more items for consumers. However, with secondhand, there is no added wastage. Hence, the purchase of secondhand luxury goods offers several environmental benefits compared to buying new luxury items such as reducing waste, lower carbon footprint and water usage, reduced green house gas emissions, etc. Further, the secondhand luxury goods market is expected to experience continued growth in the coming years, with pre-owned luxury fashion leading the trend. The trend towards buying secondhand luxury items is becoming increasingly popular in almost every region such as the Americas, Asia Pacific, Middle East, and other regions.
Market Restraints
The limited market reach of the secondhand luxury goods market refers to the fact that the market is dominated by a few large players, which makes it difficult for smaller sellers and new entrants to gain a foothold. This can limit the variety of available products, reduce competition, and lead to higher prices. Moreover, lack of standardization in the secondhand luxury goods market refers to the absence of a universally accepted definition of what constitutes a secondhand luxury item. This can lead to confusion and mistrust among buyers and sellers, as well as difficulties in determining the value and authenticity of items. This lack of standardization can also result in inconsistent quality and labeling of products, which can make it challenging for buyers to make informed purchasing decisions.
Market Opportunities
The growth potential of the secondhand luxury goods market is being boosted by a growing number of investments in the sector. This has opened up opportunities for market expansion in the near future. For instance, the United States has emerged as a highly attractive market for secondhand luxury goods, attracting numerous companies to offer pre-owned products from brands such as Gucci, Tory Burch, Michael Kors, Louis Vuitton, and Furla. Additionally, a capsule collection represents a compact expression of a designer’s vision, typically in a limited edition form. For example, some models of Patek Philippe watches are only produced in small numbers each year. Customers are required to fill out a file and apply for purchase. These collections are versatile, practical, and commercially appealing, transcending seasonal and fashion trends. The growing trend of minimalistic fashion, known as the capsule wardrobe, is driving increased demand for secondhand luxury goods.
Industry Development
- In Mar 2023, RealReal, Inc. announced the improvement of its seller experience by enhancing its consignment service model, now called RealService.
- In 2023, Vestiaire Collective collaborated with Giglio.com to establish a circular economy initiative focused on encouraging mindful consumption and enabling individuals to sell iconic pieces from their wardrobes.
- In Jun 2022, Gucci and Burberry joined the Secondhand Luxury trade market.
Secondhand Luxury Goods Market Report Highlights:
- The jewelry & watches insurance segment dominated the global second-hand luxury goods market by type with 76.0% in 2023. The secondhand luxury jewellery and watches market refers to the buying and selling of previously owned luxury jewellery and watches, such as those from brands like Cartier, Tiffany & Co., and Rolex.
- Based on demography, women dominated segment held the largest market share of 55.7% in 2023 and is anticipated to dominate the market over the forecast period. The market expansion in this sector is now being boosted by the rising demand for high-end fashion accessories like belts, purses, watches, and jewellery at reasonable rates.
- Based on distribution channel, offline dominated segment held the largest market share of 61.8% in 2023 and is anticipated to dominate the market over the forecast period. The increase in the number of independently operated consignment stores around the world can be attributed to the expanding sales of used luxury goods through brick-and-mortar distribution channels.
- Europe generated the highest revenue in 2023 with a 51.8% revenue share. The market for secondhand luxury goods in Europe is mostly driven by rising price accessibility, which enables consumers to buy the goods at reasonable costs.
Historical & Forecast Period
Base Year: 2023
Historical Period: 2019-2023
Forecast Period: 2024-2033
Report’s Unit: US$
Global Secondhand Luxury Goods Market Segmentation
Market by Type
- Jewelry & Watches
- Handbags
- Clothing
- Small Leather Goods
- Footwear
- Accessories
- Others
Market by Demography
- Women
- Men
- Unisex
Market by Distribution Channel
- Offline
- Online
Market by Region
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
- Argentina
- Chile
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- Turkey
- Iran
- United Arab Emirates
- Rest of Middle East & Africa
List of Mentioned Companies
- Fashionphile Group LLC
- Fendi
- Garderobe
- Inseller
- Luxepolis Retail Services Pvt Ltd
- Luxury Closet, Inc.v
- Tradesy (Vestiaire Collective)
- The Closet
- The RealReal Inc.
- Timepiece360
- Yoogi’s Closet, Inc.
Report Coverage
| Report Feature | Details |
| Base Year | 2023 |
| Historical Period | 2019-2022 |
| Forecast Period | 2024-2033 |
| Units | US$ Million |
| Segments Covered | Type, Demography, Distribution Channel, Region |
| Region Covered | Europe, North America, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Fashionphile Group LLC, Fendi, Garderobe, Inseller, Luxepolis Retail Services Pvt Ltd, Luxury Closet, Inc., Tradesy (Vestiaire Collective), The Closet, The RealReal Inc., Timepiece360, Yoogi’s Closet, Inc. |
| Purchase Options | Single User License: US$ 2,999 Five User License: US$ 3,499 Corporate License: US$ 4,499 |
Research Methodology
During the course of the research study, we conducted extensive primary and secondary research. The research commenced with extensive exploration through secondary sources followed by primary research. With these research methods, we were able to estimate the market size, to identify the factors that promote the growth in this market as well as the factors that hamper the growth in the market.
Comprehensive primary and secondary methods helped us to identify the trends in the market and to project the opportunities that the key players may get during the forecast period. Apart from these approaches, various analytical and statistical approaches were also used during data extraction cleaning, and analysis.
Post-secondary & primary research, we conducted expert interviews to validate all the information we collected during the course of the study. So, a blend of these three-way approaches helped us in data triangulation and to provide an accurate market scenario in our report.
Key Questions Answered in the Report
- What will be the global secondhand luxury goods market size and the growth rate in the coming year?
- What are the main key factors driving the market?
- What are the key market trends impacting the growth of the market?
- What are the market opportunities and threats in the market?
- What industrial trends, drivers, and challenges are manipulating its growth?
- Which are trending factors influencing the market shares of the top regions across the globe?
- Who are the key market players in the industry?
- What is the impact of Covid19 on the current industry?
1. Preface
1.1 Objective
1.2 Target Audience & Key Offerings
1.3 Report’s Scope
1.4 Research Methodology
1.4.1 Phase I
1.4.2 Phase II
1.4.3 Phase III
1.5 Assumptions
2. Key Insights
2.1. Global Market in 2023
2.2. Impact of COVID-19
2.3. Growth Opportunities and Challenges
2.4. Key Industry Trends
3. Global Market Dynamics
3.1. Introduction
3.2. Market DROs
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Industry Trends
3.4. SWOT Analysis
3.5. Market Value Chain Analysis
3.6. Porter’s Five Forces Analysis
3.7. PESTLE Analysis
3.8. Key Price Indicators
3.9. Ansoff Matrix
3.10. Government Laws and Industry Regulations
4. Global Secondhand Luxury Goods Market Analysis
4.1. Market Portraiture
4.2. Market Size (US$ Million, 2019-2023)
4.3. Market Forecast (US$ Million, 2024-2033)
4.4. Impact of COVID-19
4.5. Impact of Russia-Ukraine War
5. Global Secondhand Luxury Goods Market by Type (US$ Million, 2019-2033)
5.1. Introduction
5.2. Jewelry & Watches
5.3. Handbags
5.4. Clothing
5.5. Small Leather Goods
5.6. Footwear
5.7. Accessories
5.8. Others
5.9. Key Segment Investment Opportunity
6. Global Secondhand Luxury Goods Market by Demography (US$ Million, 2019-2033)
6.1. Introductions
6.2. Women
6.3. Men
6.4. Unisex
6.5. Key Segment Investment Opportunity
7. Global Secondhand Luxury Goods Market by Distribution Channel (US$ Million, 2019-2033)
7.1. Introductions
7.2. Offline
7.3. Online
7.4. Key Segment Investment Opportunity
8. Global Secondhand Luxury Goods Market by Region (US$ Million, 2019-2033)
8.1. Introduction
8.2. Europe
8.3. North America
8.4. Asia Pacific
8.5. Latin America
8.6. Middle East & Africa
8.7. Key Segment Investment Opportunity
9. Europe Secondhand Luxury Goods Market (US$ Million, 2019-2033)
9.1. Introduction
9.2. Key Drivers and Takeaways
9.3. Europe Market Breakup by Type
9.4. Europe Market Breakup by Demography
9.5. Europe Market Breakup by Distribution Channel
9.6. Europe Market Breakup by Country
9.6.1. Germany
9.6.2. United Kingdom
9.6.3. France
9.6.4. Italy
9.6.5. Spain
9.6.6. Russia
9.6.7. Netherlands
9.6.8. Sweden
9.6.9. Poland
9.6.10. Rest of Europe
10. North America Secondhand Luxury Goods Market (US$ Million, 2019-2033)
10.1. Introduction
10.2. Key Drivers and Takeaways
10.3. North America Market Breakup by Type
10.4. North America Market Breakup by Demography
10.5. North America Market Breakup by Distribution Channel
10.6. North America Market Breakup by Country
10.6.1. United States
10.6.2. Canada
11. Asia Pacific Secondhand Luxury Goods Market (US$ Million, 2019-2033)
11.1. Introduction
11.2. Key Drivers and Takeaways
11.3. Asia Pacific Market Breakup by Type
11.4. Asia Pacific Market Breakup by Demography
11.5. Asia Pacific Market Breakup by Distribution Channel
11.6. Asia Pacific Market Breakup by Country
11.6.1. China
11.6.2. Japan
11.6.3. India
11.6.4. South Korea
11.6.5. Australia
11.6.6. ASEAN
11.6.7. Rest of Asia Pacific
12. Latin America Secondhand Luxury Goods Market (US$ Million, 2019-2033)
12.1. Introduction
12.2. Key Drivers and Takeaways
12.3. Latin America Market Breakup by Type
12.4. Latin America Market Breakup by Demography
12.5. Latin America Market Breakup by Distribution Channel
12.6. Latin America Market Breakup by Country
12.6.1. Mexico
12.6.2. Brazil
12.6.3. Argentina
12.6.4. Chile
12.6.5. Rest of Latin America
13. Middle East and Africa Secondhand Luxury Goods Market (US$ Million, 2019-2033)
13.1. Introduction
13.2. Key Drivers and Takeaways
13.3. Middle East and Africa Market Breakup by Type
13.4. Middle East and Africa Market Breakup by Demography
13.5. Middle East and Africa Market Breakup by Distribution Channel
13.6. Middle East and Africa Market Breakup by Country
13.6.1. Saudi Arabia
13.6.2. Turkey
13.6.3. Iran
13.6.4. United Arab Emirates
13.6.5. Rest of Middle East & Africa
14. Competitive Landscape
14.1. Competitive Dashboard
14.2. Key Industry Strategies Analysis
14.3. Recent Developments
14.4. Market Scenario
15. Company Profiles
15.1. Fashionphile Group LLC
15.2. Fendi
15.3. Garderobe
15.4. Inseller
15.5. Luxepolis Retail Services Pvt Ltd
15.6. Luxury Closet, Inc.
15.7. Tradesy (Vestiaire Collective)
15.8. The Closet
15.9. The RealReal Inc.
15.10. Timepiece360
15.11. Yoogi’s Closet, Inc.
- Description
-
The global second-hand luxury goods market is expected to grow at a CAGR of around 13.1% during 2024-2033. This report on global second-hand luxury goods market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape. The report presents a clear picture of the global second-hand luxury goods market by segmenting the market based on product type, demography, distribution channel, and region. Also, detailed profiles of companies operating in the second-hand luxury goods market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision.
Market Drivers
With the increasing focus on sustainability and the rising concern towards protecting the environment, the demand for secondhand luxury products have increased. Firsthand items contribute to companies creating more items for consumers. However, with secondhand, there is no added wastage. Hence, the purchase of secondhand luxury goods offers several environmental benefits compared to buying new luxury items such as reducing waste, lower carbon footprint and water usage, reduced green house gas emissions, etc. Further, the secondhand luxury goods market is expected to experience continued growth in the coming years, with pre-owned luxury fashion leading the trend. The trend towards buying secondhand luxury items is becoming increasingly popular in almost every region such as the Americas, Asia Pacific, Middle East, and other regions.
Market Restraints
The limited market reach of the secondhand luxury goods market refers to the fact that the market is dominated by a few large players, which makes it difficult for smaller sellers and new entrants to gain a foothold. This can limit the variety of available products, reduce competition, and lead to higher prices. Moreover, lack of standardization in the secondhand luxury goods market refers to the absence of a universally accepted definition of what constitutes a secondhand luxury item. This can lead to confusion and mistrust among buyers and sellers, as well as difficulties in determining the value and authenticity of items. This lack of standardization can also result in inconsistent quality and labeling of products, which can make it challenging for buyers to make informed purchasing decisions.
Market Opportunities
The growth potential of the secondhand luxury goods market is being boosted by a growing number of investments in the sector. This has opened up opportunities for market expansion in the near future. For instance, the United States has emerged as a highly attractive market for secondhand luxury goods, attracting numerous companies to offer pre-owned products from brands such as Gucci, Tory Burch, Michael Kors, Louis Vuitton, and Furla. Additionally, a capsule collection represents a compact expression of a designer’s vision, typically in a limited edition form. For example, some models of Patek Philippe watches are only produced in small numbers each year. Customers are required to fill out a file and apply for purchase. These collections are versatile, practical, and commercially appealing, transcending seasonal and fashion trends. The growing trend of minimalistic fashion, known as the capsule wardrobe, is driving increased demand for secondhand luxury goods.
Industry Development
- In Mar 2023, RealReal, Inc. announced the improvement of its seller experience by enhancing its consignment service model, now called RealService.
- In 2023, Vestiaire Collective collaborated with Giglio.com to establish a circular economy initiative focused on encouraging mindful consumption and enabling individuals to sell iconic pieces from their wardrobes.
- In Jun 2022, Gucci and Burberry joined the Secondhand Luxury trade market.
Secondhand Luxury Goods Market Report Highlights:
- The jewelry & watches insurance segment dominated the global second-hand luxury goods market by type with 76.0% in 2023. The secondhand luxury jewellery and watches market refers to the buying and selling of previously owned luxury jewellery and watches, such as those from brands like Cartier, Tiffany & Co., and Rolex.
- Based on demography, women dominated segment held the largest market share of 55.7% in 2023 and is anticipated to dominate the market over the forecast period. The market expansion in this sector is now being boosted by the rising demand for high-end fashion accessories like belts, purses, watches, and jewellery at reasonable rates.
- Based on distribution channel, offline dominated segment held the largest market share of 61.8% in 2023 and is anticipated to dominate the market over the forecast period. The increase in the number of independently operated consignment stores around the world can be attributed to the expanding sales of used luxury goods through brick-and-mortar distribution channels.
- Europe generated the highest revenue in 2023 with a 51.8% revenue share. The market for secondhand luxury goods in Europe is mostly driven by rising price accessibility, which enables consumers to buy the goods at reasonable costs.
Historical & Forecast Period
Base Year: 2023
Historical Period: 2019-2023
Forecast Period: 2024-2033
Report’s Unit: US$
Global Secondhand Luxury Goods Market Segmentation
Market by Type
- Jewelry & Watches
- Handbags
- Clothing
- Small Leather Goods
- Footwear
- Accessories
- Others
Market by Demography
- Women
- Men
- Unisex
Market by Distribution Channel
- Offline
- Online
Market by Region
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
- Argentina
- Chile
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- Turkey
- Iran
- United Arab Emirates
- Rest of Middle East & Africa
List of Mentioned Companies
- Fashionphile Group LLC
- Fendi
- Garderobe
- Inseller
- Luxepolis Retail Services Pvt Ltd
- Luxury Closet, Inc.v
- Tradesy (Vestiaire Collective)
- The Closet
- The RealReal Inc.
- Timepiece360
- Yoogi’s Closet, Inc.
Report Coverage
Report Feature Details Base Year 2023 Historical Period 2019-2022 Forecast Period 2024-2033 Units US$ Million Segments Covered Type, Demography, Distribution Channel, Region Region Covered Europe, North America, Asia Pacific, Latin America, Middle East and Africa Companies Covered Fashionphile Group LLC, Fendi, Garderobe, Inseller, Luxepolis Retail Services Pvt Ltd, Luxury Closet, Inc., Tradesy (Vestiaire Collective), The Closet, The RealReal Inc., Timepiece360, Yoogi’s Closet, Inc. Purchase Options Single User License: US$ 2,999
Five User License: US$ 3,499
Corporate License: US$ 4,499Research Methodology
During the course of the research study, we conducted extensive primary and secondary research. The research commenced with extensive exploration through secondary sources followed by primary research. With these research methods, we were able to estimate the market size, to identify the factors that promote the growth in this market as well as the factors that hamper the growth in the market.
Comprehensive primary and secondary methods helped us to identify the trends in the market and to project the opportunities that the key players may get during the forecast period. Apart from these approaches, various analytical and statistical approaches were also used during data extraction cleaning, and analysis.
Post-secondary & primary research, we conducted expert interviews to validate all the information we collected during the course of the study. So, a blend of these three-way approaches helped us in data triangulation and to provide an accurate market scenario in our report.Key Questions Answered in the Report
- What will be the global secondhand luxury goods market size and the growth rate in the coming year?
- What are the main key factors driving the market?
- What are the key market trends impacting the growth of the market?
- What are the market opportunities and threats in the market?
- What industrial trends, drivers, and challenges are manipulating its growth?
- Which are trending factors influencing the market shares of the top regions across the globe?
- Who are the key market players in the industry?
- What is the impact of Covid19 on the current industry?
- Table of Contents
-
1. Preface
1.1 Objective
1.2 Target Audience & Key Offerings
1.3 Report’s Scope
1.4 Research Methodology
1.4.1 Phase I
1.4.2 Phase II
1.4.3 Phase III
1.5 Assumptions
2. Key Insights
2.1. Global Market in 2023
2.2. Impact of COVID-19
2.3. Growth Opportunities and Challenges
2.4. Key Industry Trends
3. Global Market Dynamics
3.1. Introduction
3.2. Market DROs
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Industry Trends
3.4. SWOT Analysis
3.5. Market Value Chain Analysis
3.6. Porter’s Five Forces Analysis
3.7. PESTLE Analysis
3.8. Key Price Indicators
3.9. Ansoff Matrix
3.10. Government Laws and Industry Regulations
4. Global Secondhand Luxury Goods Market Analysis
4.1. Market Portraiture
4.2. Market Size (US$ Million, 2019-2023)
4.3. Market Forecast (US$ Million, 2024-2033)
4.4. Impact of COVID-19
4.5. Impact of Russia-Ukraine War
5. Global Secondhand Luxury Goods Market by Type (US$ Million, 2019-2033)
5.1. Introduction
5.2. Jewelry & Watches
5.3. Handbags
5.4. Clothing
5.5. Small Leather Goods
5.6. Footwear
5.7. Accessories
5.8. Others
5.9. Key Segment Investment Opportunity
6. Global Secondhand Luxury Goods Market by Demography (US$ Million, 2019-2033)
6.1. Introductions
6.2. Women
6.3. Men
6.4. Unisex
6.5. Key Segment Investment Opportunity
7. Global Secondhand Luxury Goods Market by Distribution Channel (US$ Million, 2019-2033)
7.1. Introductions
7.2. Offline
7.3. Online
7.4. Key Segment Investment Opportunity
8. Global Secondhand Luxury Goods Market by Region (US$ Million, 2019-2033)
8.1. Introduction
8.2. Europe
8.3. North America
8.4. Asia Pacific
8.5. Latin America
8.6. Middle East & Africa
8.7. Key Segment Investment Opportunity
9. Europe Secondhand Luxury Goods Market (US$ Million, 2019-2033)
9.1. Introduction
9.2. Key Drivers and Takeaways
9.3. Europe Market Breakup by Type
9.4. Europe Market Breakup by Demography
9.5. Europe Market Breakup by Distribution Channel
9.6. Europe Market Breakup by Country
9.6.1. Germany
9.6.2. United Kingdom
9.6.3. France
9.6.4. Italy
9.6.5. Spain
9.6.6. Russia
9.6.7. Netherlands
9.6.8. Sweden
9.6.9. Poland
9.6.10. Rest of Europe
10. North America Secondhand Luxury Goods Market (US$ Million, 2019-2033)
10.1. Introduction
10.2. Key Drivers and Takeaways
10.3. North America Market Breakup by Type
10.4. North America Market Breakup by Demography
10.5. North America Market Breakup by Distribution Channel
10.6. North America Market Breakup by Country
10.6.1. United States
10.6.2. Canada
11. Asia Pacific Secondhand Luxury Goods Market (US$ Million, 2019-2033)
11.1. Introduction
11.2. Key Drivers and Takeaways
11.3. Asia Pacific Market Breakup by Type
11.4. Asia Pacific Market Breakup by Demography
11.5. Asia Pacific Market Breakup by Distribution Channel
11.6. Asia Pacific Market Breakup by Country
11.6.1. China
11.6.2. Japan
11.6.3. India
11.6.4. South Korea
11.6.5. Australia
11.6.6. ASEAN
11.6.7. Rest of Asia Pacific
12. Latin America Secondhand Luxury Goods Market (US$ Million, 2019-2033)
12.1. Introduction
12.2. Key Drivers and Takeaways
12.3. Latin America Market Breakup by Type
12.4. Latin America Market Breakup by Demography
12.5. Latin America Market Breakup by Distribution Channel
12.6. Latin America Market Breakup by Country
12.6.1. Mexico
12.6.2. Brazil
12.6.3. Argentina
12.6.4. Chile
12.6.5. Rest of Latin America
13. Middle East and Africa Secondhand Luxury Goods Market (US$ Million, 2019-2033)
13.1. Introduction
13.2. Key Drivers and Takeaways
13.3. Middle East and Africa Market Breakup by Type
13.4. Middle East and Africa Market Breakup by Demography
13.5. Middle East and Africa Market Breakup by Distribution Channel
13.6. Middle East and Africa Market Breakup by Country
13.6.1. Saudi Arabia
13.6.2. Turkey
13.6.3. Iran
13.6.4. United Arab Emirates
13.6.5. Rest of Middle East & Africa
14. Competitive Landscape
14.1. Competitive Dashboard
14.2. Key Industry Strategies Analysis
14.3. Recent Developments
14.4. Market Scenario
15. Company Profiles
15.1. Fashionphile Group LLC
15.2. Fendi
15.3. Garderobe
15.4. Inseller
15.5. Luxepolis Retail Services Pvt Ltd
15.6. Luxury Closet, Inc.
15.7. Tradesy (Vestiaire Collective)
15.8. The Closet
15.9. The RealReal Inc.
15.10. Timepiece360
15.11. Yoogi’s Closet, Inc.
