Luxury Resale Market 2022: Key Major Players are RealReal, Inc., Vestiaire Collective, Poshmark Inc., and ThredUp, Inc.
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Historically, the global luxury resale market has been fragmented and dominated by small local boutiques with little consumer reach. However, the growing online luxury resale sites have completely changed the luxury resale market and the market move towards consolidation.
The competition in the global luxury resale market is dominated by few luxury resale players. Further, key players of the luxury resale market are The RealReal, Inc., Vestiaire Collective, Poshmark Inc., and ThredUp, Inc. are also profiled with their financial information and respective business strategies.
Company Coverage of Global Luxury Resale Market:
1. The RealReal, Inc
2. Vestiaire Collective
3. Poshmark Inc.
4. ThredUp, Inc.
The global luxury resale market has increased at a significant CAGR during the years 2014-2017 and projections are made that the market would rise in the next four years i.e. 2018-2022 tremendously. The luxury resale market is expected to increase due to growing millennial population, increasing middle class population and spending, soaring urban population, escalating internet users, etc. Yet the market faces some challenges such as lack of trust in buying second-hand luxury, e-commerce fraud, lack of awareness, etc.
A luxury good is defined as a good of top level both in terms of quality and price. In contrast with necessity goods, luxury goods are usually more costly and are often bought by wealthy individuals. The luxury goods are also considered as a status symbol for the rich people. The luxury goods are tend to make life more pleasant with its special qualities, features or attributes intrinsic to a product. The luxury goods can be segmented on the basis of product type.
Luxury resale refers to the buying and selling of the previously-owned luxury goods. In the past few years, the sale of the pre-owned luxury goods have been increasingly very rapidly and the stigma associated with the consumption of the second-hand luxury has been disappearing. In contrast with the new luxury, pre-owned luxury is usually less expensive and have some traces of wear-and-tear. It has also been suggested that the buyers of the second-hand luxury are not necessarily poor, in fact they are either value-conscious consumers or fashion-conscious consumers.
The benefits of buying and selling of second-hand luxury goods are: money saving, saving of environment, supporting local business, discovering new brands and buying something new. The luxury resale market can be segmented on the basis of channel and type.
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Key Topics Covered in Table of Contents of Global Luxury Resale Market:
1. Executive Summary
3. Global Market Analysis
4. Market Dynamics
5. Competitive Landscape
6. Company Profiles
Few Points from List of Figures Covered in Global Luxury Resale Market:
Figure 1: Characteristics of Luxury Goods
Figure 2: Luxury Goods Segmentation by Product Type
Figure 3: Benefits of Buying and Selling Second-hand Luxury Goods
Figure 4: Luxury Resale Segmentation by Channel
Figure 5: Luxury Resale Segmentation by Type
Figure 6: Global Luxury Resale Market by Value; 2014-2017 (US$ Billion)
Figure 7: Global Luxury Resale Market by Value; 2018-2022 (US$ Billion)
Figure 8: Global Luxury Resale Market by Product; 2017 (Percentage, %)
Figure 9: Global Luxury Resale Market by Channel; 2017 (Percentage, %)
Figure 10: Global Luxury Resale Market by Region; 2017 (Percentage, %)
Figure 11: Global Luxury Apparel Resale Market by Value; 2017-2022 (US$ Billion)
Figure 12: Global Other Luxury Resale Market by Value; 2017-2022 (US$ Billion)
Figure 13: Global Online Luxury Resale Market by Value; 2017-2022 (US$ Billion)
Figure 14: Global Offline Luxury Resale Market by Value; 2017-2022 (US$ Billion)
Figure 15: Global Youth Population; 2000-2025 (Million)
Figure 16: The Millennial Population Buying Second-hand Luxury Products; 2017 (Percentage, %)
Figure 17: Global Middle Class Population; 2016-2028 (Billion)
Figure 18: Global Middle Class Spending; 2016-2030 (US$ Trillion)
Figure 19: Global Urbanization Rates by Region; 2010-2040 (Percentage, %)
Figure 20: Global Internet Users and Penetration; 2013-2018 (Billion & Percentage, %)
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