According to IMARC Group’s latest report, titled “Secondhand Luxury Goods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” the global market exhibited strong growth during 2015-2020. Secondhand luxury goods are the high-end and premium items that are later purchased by the second end-user. These goods majorly include jewelry, artworks, footwear, apparel, fashion accessories, etc. Secondhand luxury goods are usually durable with an extended warranty period that makes them suitable for the resale market. These goods are generally sold at charity events, auctions, bazaar-style fundraisers, privately-owned consignment shops, etc.
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The global secondhand luxury goods market is primarily propelled by the increasing disposable income levels that have enabled the millennial and urbanized population to opt for high-end fashion accessories at lower prices. Additionally, the emergence of secondhand luxury goods on online platforms, along with the diminishing stigma of using pre-owned luxury goods, has further augmented the market growth. Several online resale sites are forming strategic alliances with various luxury brands to market pre-owned luxury products. Furthermore, the rising demand for limited capsule collections and fashion drops has created scarcity for premium luxury items, thereby catalyzing the market for secondhand luxury goods. Apart from this, the growing investments to enhance authentication procedures and quality checks of products are further anticipated to bolster the market growth over the forecast period. Looking forward, IMARC Group expects the secondhand luxury goods market to grow at a CAGR of 10.3% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Fashionphile Group LLC.
- Luxury Closet, Inc.
- So Chic Boutique
- The Closet
- The RealReal Inc.
- Vestiaire Collective
- Yoogi’s Closet, Inc.
Breakup by Product Type:
- Jewelry & Watches
- Small Leather Goods
Breakup by Demography:
Breakup by Distribution Channel:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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