Global Secondhand Luxury Goods Market to Witness Significant Growth Through 2024

July 13, 2020

As per the report titled ‘Global Second Hand Luxury Goods Market - Analysis By Product Type , By Sales Channel, By Region, By Country: Opportunities and Forecast (2018-2024)’, available with Market Study Report LLC, global second hand luxury goods market was valued at USD 261.2 billion in 2018 and is expected to record a heathy growth rate over 2018-2024.

Global second hand luxury goods market is majorly driven by rapid urbanization in emerging economies, rising demand for luxury goods from working women population. Moreover, escalating consumer demand with rising per capita income in developing nations such as India and China, in consort with growing availability to a wide variety of luxury goods are augmenting the industry growth. Further, economic revival in developed countries such as the United States, United Kingdom, and Japan is rendering a positive impact on the market.

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Based on the product type, global second hand luxury goods market is categorized into apparel, bags, jewellery, watches, footwear, and accessories. Speaking of the sales channel, the market is bifurcated into online and offline.

From a regional standpoint, worldwide second hand luxury goods market is segmented into North America, Europe, Asia Pacific, and Rest of the World. APAC market currently hold the majority share and is expected to show remarkable growth over the estimated timeframe.

Prominent players in global second hand luxury goods market are Leprix, ThredUp, Vestiaire Collective, The RealReal, Inc., Tradesy Inc., and Poshmark.

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