Europe Secondhand Luxury Goods Market Size is Predicted to Rise US$ 26.5 Billion by 2028 | IMARC Group

IMARC Group, a leading market research company, has released a report titled "Europe Secondhand Luxury Goods Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". According to the report, The Europe secondhand luxury goods market size reached US$ 16.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2023-2028.

Secondhand luxury goods are high-end and premium products that commonly include luxury footwear and apparel, bags, antique furniture, watches, jewelry, artworks, etc. They are generally durable with an extended warranty period, which makes them suitable for the resale market. In addition to this, secondhand luxury goods aid in reducing carbon footprint and minimizing production waste. They offer economic benefits to sellers. Secondhand luxury goods are extensively sold at auctions, charity events, privately-owned consignment shops, bazaar-style fundraisers, online retail channels, etc., across Europe.

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Europe Secondhand Luxury Goods Market Trends and Drivers:

The rising consumer inclination towards the adoption of pre-owned products and the increasing demand for high-end accessories, clothing, footwear, etc., at affordable prices are among the key factors stimulating the Europe secondhand luxury goods market. Moreover, extensive investments by leading manufacturers in the deployment of advanced solutions for quality checks and authentication processes to provide reliable and genuine secondhand items to buyers are acting as significant growth-inducing factors. Besides this, the growing number of online re-selling platforms that are entering into strategic partnerships and collaborations with luxury brands to enhance the reputation of secondhand products is positively influencing the regional market. Furthermore, the easy availability of a wide range of luxury items across the online and offline organized retail channels is also propelling the market growth. Apart from this, various economic benefits associated with re-selling their luxury products instead of discarding them and the introduction of limited capsule collections and fashion drops are anticipated to fuel the Europe secondhand luxury goods market over the forecasted period.

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Competitive Landscape

The competitive landscape of the industry has also been examined with some of the key players being

Fendi (LVMH Moet Hennessy Louis Vuitton)
Vestiaire Collective
Harrods Limited
Cartier International (Compagnie Financiere Richemont SA)
Chrono24
Collector Square
Rewind Vintage Affairs
Audemars Piguet
Chronext AG.

The report has segmented the market on the basis of Product Type, Demography, Demography, Distribution Channel and Country.

Breakup by Product Type:

Jewelry and Watches
Handbags
Clothing
Small Leather Goods
Footwear
Accessories
Others

Breakup by Demography:

Men
Women
Unisex

Breakup by Distribution Channel:

Offline
Online

Breakup by Country:

France
Italy
United Kingdom
Germany
Russia
Spain
Others

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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