Pre-owned Luxury Goods Market

Pre-owned Luxury Goods Market Highlights

The global pre-owned luxury goods market is expected to cross a value of USD 79.1 billion by the end of 2032. The market was valued at USD 37.44 billion in 2023 and is expected to expand at a CAGR of 9.5% between 2024-2032.

• Over the mid-term, the growing desire of consumers for eco-friendly and sustainable fashion options is the primary factor anticipated to drive the global pre-owned luxury goods market.
• The growing concerns for the availability of counterfeit product is a major factor to challenge the market growth.
• The Europe pre-owned luxury goods market is projected to dominate the global market.

Pre-owned Luxury Goods Market Outlook

The buying and selling of second-hand or used luxury items, such as clothing, accessories, handbags, watches, jewelry, and other high-end products is known as pre-owned luxury goods. These items are typically from renowned luxury brands and are usually known for their quality, craftsmanship, and prestige.

According to our analysts at KD Market Insights, one of the primary factors associated with the growth of the global pre-owned luxury goods market is the growing desire of consumers for eco-friendly and sustainable fashion options. Consumers are increasingly concerned about the environmental impact of fast fashion and the luxury industry's contribution to it. The United Nation Environment Program (UNEP) stated that the fast fashion industry worldwide is the second biggest consumer of water. This industry is also responsible for about 10% of global carbon emissions. As a result, there's a growing preference for pre-owned luxury goods as a sustainable and ethical alternative to purchasing new items. This shift towards conscious consumption is expected to drive growth in the pre-owned luxury goods, and in turn, contribute to the market growth. Fashionphile Group LLC., Fendi, Garderobe are some of the significant parties in the global market for pre-owned luxury goods.

                                     Get More Insights on This Report - Request Free Sample PDF

Pre-owned Luxury Goods Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global pre-owned luxury goods market are:

• Increasing Availability of Online Marketplaces for Pre-Owned Goods: With the growing e-commerce industry worldwide and the rapid proliferation of online shopping platforms, the availability of online marketplaces which are solely dedicated to dealing pre-owned luxury goods, has made easy for consumers to buy or sell luxury items. Our researchers predict that by 2025, global ecommerce sales is expected to grow by about 50% over the past four years, reaching a value of USD 7.5 trillion. Online platforms offer a wide selection of authenticated products, thereby providing greater accessibility to a broader audience. Such a factor is therefore expected to drive the growth of the market in the coming years.
• Rising Demand for Affordable Products: Backed by the growing concerns for economic fluctuations and uncertainty, the consumer purchasing behavior has largely been impacted. This has raised the demand for affordable products among the consumers without compromising on the product quality or status. Pre-owned luxury goods allow consumers to own coveted items at a lower price point. Hence, the growing number of budget-conscious consumers globally and the rise in demand for affordable products among these consumers is therefore expected to drive the growth of the market during the forecast period.

Which Probable Factors Could Hamper the Growing Pre-owned Luxury Goods Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of pre-owned luxury goods are:

• Rise in Concerns for the Availability of Counterfeit and Authenticated Products: The presence of counterfeit luxury goods poses a significant challenge for the pre-owned luxury goods market. Consumers are often wary of purchasing pre-owned items due to concerns about authenticity. Hence, such doubts about authenticity of pre-owned luxury goods is expected to hinder the market growth.
• Limited Product Availability: The availability of desirable pre-owned luxury items may be limited, especially for sought-after or rare pieces. This scarcity can lead to inconsistency in product availability and limit the market's growth potential.

How is the Global Pre-owned Luxury Goods Market Segmented?

Our experts at KD Market Insights have segmented the global pre-owned luxury goods market as:

What are the Probable Factors Influencing the Europe Pre-owned Luxury Goods Market Forecast?

The Europe pre-owned luxury goods market is majorly driven by the fact that the region has a strong cultural emphasis on sustainability and ethical consumption, thereby driving the preferences for pre-owned luxury goods as a sustainable alternative to buying new items among the consumers. On the other hand, Europe is known to have a rich heritage and tradition of luxury craftsmanship. This allures consumers to own luxury items with a history and legacy, which is also expected to contribute to the growth of the pre-owned luxury goods market in the region.

As per our analysts at KD Market Insights, the following five players lead the Europe pre-owned luxury goods market growth:

• Vestiaire Collective
• The RealReal
• REBELLE
• HEWI London
• Designer Exchange

Which Key Players Top the Global Pre-owned Luxury Goods Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global pre-owned luxury goods market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with pre-owned luxury goods market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global pre-owned luxury goods market share:

• Fashionphile Group LLC.
• Fendi
• Garderobe
• Inseller
• Luxepolis
• Luxury Closet, Inc.
• So Chic Boutique
• The Closet
• The RealReal Inc.
• Timepiece360
• Vestiaire Collective
• Yoogi's Closet Inc.

What are the Recent Developments Observed in the Pre-owned Luxury Goods Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global pre-owned luxury goods market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, Farfetch Limited announced that it has launched a pilot re-sale program for designer handbags, known as Farfetch Second Life.

Further, eBay Inc. shared that it has opened a store at the heart of New York’s iconic Diamond District. This store would accept pre-owned luxury goods as currency, and hence, shoppers can appraise and exchange for ‘closet currency’ to purchase authentic items from the top luxury sellers available in the shop.

Research Methodology
Market Definition and List of Abbreviations
 1. Executive Summary
2. Growth Drivers & Issues in Global Pre-Owned Luxury Goods Market
 3. Global Pre-Owned Luxury Goods Market Trends
 4. Opportunities in Global Pre-Owned Luxury Goods Market
 5. Recent Industry Activities, 2021
 6. Porter's Five Forces Analysis
 7. Market Value Chain and Supply Chain Analysis
 8. Products Average Price Analysis, By Country
 9. Global Pre-Owned Luxury Goods Market Value & Forecast (USD Million), 2021-2027

10. Global Pre-Owned Luxury Goods Market Segmentation Analysis, By Product
 10.1. Introduction
 10.2. Market Attractiveness, By Product
 10.3. BPS Analysis, By Product
 10.4. Clothing Market Value & Forecast (USD Million), 2021-2027
 10.5. Footwear Market Value & Forecast (USD Million), 2021-2027
 10.6. Bags & Accessories Market Value & Forecast (USD Million), 2021-2027
 10.7. Cosmetics & Fragrances Market Value & Forecast (USD Million), 2021-2027
 10.8. Jewellery & Watches Market Value & Forecast (USD Million), 2021-2027
 10.9. Other Luxury Goods Market Value & Forecast (USD Million), 2021-2027

11. Global Pre-Owned Luxury Goods Market Segmentation Analysis, By Demography
 11.1. Introduction
 11.2. Market Attractiveness, By Demography
 11.3. BPS Analysis, By Demography
 11.4. Men Market Value & Forecast (USD Million), 2021-2027
 11.5. Women Market Value & Forecast (USD Million), 2021-2027

12. Global Pre-Owned Luxury Goods Market Segmentation Analysis, By Distribution Channel
 12.1. Introduction
 12.2. Market Attractiveness, By Distribution Channel
 12.3. BPS Analysis, By Distribution Channel
 12.4. Online Stores Market Value & Forecast (USD Million), 2021-2027
 12.5. Offline Stores Market Value & Forecast (USD Million), 2021-2027

13. Geographical Analysis
 13.1. Introduction
13.2. North America Market Value & Forecast (USD Million), 2021-2027
 13.2.1. By Product
 13.2.1.1. Introduction
 13.2.1.2. Market Attractiveness, By Product
 13.2.1.3. BPS Analysis, By Product
 13.2.1.4. Clothing Market Value & Forecast (USD Million), 2021-2027
 13.2.1.5. Footwear Market Value & Forecast (USD Million), 2021-2027
 13.2.1.6. Bags & Accessories Market Value & Forecast (USD Million), 2021-2027
 13.2.1.7. Cosmetics & Fragrances Market Value & Forecast (USD Million), 2021-2027
 13.2.1.8. Jewellery & Watches Market Value & Forecast (USD Million), 2021-2027
 13.2.1.9. Other Luxury Goods Market Value & Forecast (USD Million), 2021-2027
 13.2.2. By Demography
 13.2.2.1. Introduction
 13.2.2.2. Market Attractiveness, By Demography
 13.2.2.3. BPS Analysis, By Demography
 13.2.2.4. Men Market Value & Forecast (USD Million), 2021-2027
 13.2.2.5. Women Market Value & Forecast (USD Million), 2021-2027
 13.2.3. By Distribution Channel
 13.2.3.1. Introduction
 13.2.3.2. Market Attractiveness, By Distribution Channel
 13.2.3.3. BPS Analysis, By Distribution Channel
 13.2.3.4. Online Stores Market Value & Forecast (USD Million), 2021-2027
 13.2.3.5. Offline Stores Market Value & Forecast (USD Million), 2021-2027
 13.2.4. By Country
 13.2.4.1. Market Attractiveness, By Country
 13.2.4.2. BPS Analysis, By Country
 13.2.4.3. U.S. Market Value & Forecast (USD Million), 2021-2027
 13.2.4.4. Canada Market Value & Forecast (USD Million), 2021-2027

13.3. Europe Market Value & Forecast (USD Million), 2021-2027
 13.3.1. By Product
 13.3.1.1. Introduction
 13.3.1.2. Market Attractiveness, By Product
 13.3.1.3. BPS Analysis, By Product
 13.3.1.4. Clothing Market Value & Forecast (USD Million), 2021-2027
 13.3.1.5. Footwear Market Value & Forecast (USD Million), 2021-2027
 13.3.1.6. Bags & Accessories Market Value & Forecast (USD Million), 2021-2027
 13.3.1.7. Cosmetics & Fragrances Market Value & Forecast (USD Million), 2021-2027
 13.3.1.8. Jewellery & Watches Market Value & Forecast (USD Million), 2021-2027
 13.3.1.9. Other Luxury Goods Market Value & Forecast (USD Million), 2021-2027
 13.3.2. By Demography
 13.3.2.1. Introduction
 13.3.2.2. Market Attractiveness, By Demography
 13.3.2.3. BPS Analysis, By Demography
 13.3.2.4. Men Market Value & Forecast (USD Million), 2021-2027
 13.3.2.5. Women Market Value & Forecast (USD Million), 2021-2027
 13.3.3. By Distribution Channel
 13.3.3.1. Introduction
 13.3.3.2. Market Attractiveness, By Distribution Channel
 13.3.3.3. BPS Analysis, By Distribution Channel
 13.3.3.4. Online Stores Market Value & Forecast (USD Million), 2021-2027
 13.3.3.5. Offline Stores Market Value & Forecast (USD Million), 2021-2027
 13.3.4. By Country
 13.3.4.1. Market Attractiveness, By Country
 13.3.4.2. BPS Analysis, By Country
 13.3.4.3. Germany Market Value & Forecast (USD Million), 2021-2027
 13.3.4.4. United Kingdom Market Value & Forecast (USD Million), 2021-2027
 13.3.4.5. France Market Value & Forecast (USD Million), 2021-2027
 13.3.4.6. Italy Market Value & Forecast (USD Million), 2021-2027
 13.3.4.7. Spain Market Value & Forecast (USD Million), 2021-2027
 13.3.4.8. Russia Market Value & Forecast (USD Million), 2021-2027
 13.3.4.9. Rest of Europe Market Value & Forecast (USD Million), 2021-2027

13.4. Asia Pacific Market Value & Forecast (USD Million), 2021-2027
 13.4.1. By Product
 13.4.1.1. Introduction
 13.4.1.2. Market Attractiveness, By Product
 13.4.1.3. BPS Analysis, By Product
 13.4.1.4. Clothing Market Value & Forecast (USD Million), 2021-2027
 13.4.1.5. Footwear Market Value & Forecast (USD Million), 2021-2027
 13.4.1.6. Bags & Accessories Market Value & Forecast (USD Million), 2021-2027
 13.4.1.7. Cosmetics & Fragrances Market Value & Forecast (USD Million), 2021-2027
 13.4.1.8. Jewellery & Watches Market Value & Forecast (USD Million), 2021-2027
 13.4.1.9. Other Luxury Goods Market Value & Forecast (USD Million), 2021-2027
 13.4.2. By Demography
 13.4.2.1. Introduction
 13.4.2.2. Market Attractiveness, By Demography
 13.4.2.3. BPS Analysis, By Demography
 13.4.2.4. Men Market Value & Forecast (USD Million), 2021-2027
 13.4.2.5. Women Market Value & Forecast (USD Million), 2021-2027
 13.4.3. By Distribution Channel
 13.4.3.1. Introduction
 13.4.3.2. Market Attractiveness, By Distribution Channel
 13.4.3.3. BPS Analysis, By Distribution Channel
 13.4.3.4. Online Stores Market Value & Forecast (USD Million), 2021-2027
 13.4.3.5. Offline Stores Market Value & Forecast (USD Million), 2021-2027
 13.4.4. By Country
 13.4.4.1. Market Attractiveness, By Country
 13.4.4.2. BPS Analysis, By Country
 13.4.4.3. China Market Value & Forecast (USD Million), 2021-2027
 13.4.4.4. India Market Value & Forecast (USD Million), 2021-2027
 13.4.4.5. Japan Market Value & Forecast (USD Million), 2021-2027
 13.4.4.6. South Korea Market Value & Forecast (USD Million), 2021-2027
 13.4.4.7. Indonesia Market Value & Forecast (USD Million), 2021-2027
 13.4.4.8. Taiwan Market Value & Forecast (USD Million), 2021-2027
 13.4.4.9. Australia Market Value & Forecast (USD Million), 2021-2027
 13.4.4.10. New Zealand Market Value & Forecast (USD Million), 2021-2027
 13.4.4.11. Rest of Asia Pacific Market Value & Forecast (USD Million), 2021-2027

13.5. Latin America Market Value & Forecast (USD Million), 2021-2027
 13.5.1. By Product
 13.5.1.1. Introduction
 13.5.1.2. Market Attractiveness, By Product
 13.5.1.3. BPS Analysis, By Product
 13.5.1.4. Clothing Market Value & Forecast (USD Million), 2021-2027
 13.5.1.5. Footwear Market Value & Forecast (USD Million), 2021-2027
 13.5.1.6. Bags & Accessories Market Value & Forecast (USD Million), 2021-2027
 13.5.1.7. Cosmetics & Fragrances Market Value & Forecast (USD Million), 2021-2027
 13.5.1.8. Jewellery & Watches Market Value & Forecast (USD Million), 2021-2027
 13.5.1.9. Other Luxury Goods Market Value & Forecast (USD Million), 2021-2027
 13.5.2. By Demography
 13.5.2.1. Introduction
 13.5.2.2. Market Attractiveness, By Demography
 13.5.2.3. BPS Analysis, By Demography
 13.5.2.4. Men Market Value & Forecast (USD Million), 2021-2027
 13.5.2.5. Women Market Value & Forecast (USD Million), 2021-2027
 13.5.3. By Distribution Channel
 13.5.3.1. Introduction
 13.5.3.2. Market Attractiveness, By Distribution Channel
 13.5.3.3. BPS Analysis, By Distribution Channel
 13.5.3.4. Online Stores Market Value & Forecast (USD Million), 2021-2027
 13.5.3.5. Offline Stores Market Value & Forecast (USD Million), 2021-2027
 13.5.4. By Country
 13.5.4.1. Market Attractiveness, By Country
 13.5.4.2. BPS Analysis, By Country
 13.5.4.3. Brazil Market Value & Forecast (USD Million), 2021-2027
 13.5.4.4. Mexico Market Value & Forecast (USD Million), 2021-2027
 13.5.4.5. Rest of Latin America Market Value & Forecast (USD Million), 2021-2027

13.6. Middle East & Africa Market Value & Forecast (USD Million), 2021-2027
 13.6.1. By Product
 13.6.1.1. Introduction
 13.6.1.2. Market Attractiveness, By Product
 13.6.1.3. BPS Analysis, By Product
 13.6.1.4. Clothing Market Value & Forecast (USD Million), 2021-2027
 13.6.1.5. Footwear Market Value & Forecast (USD Million), 2021-2027
 13.6.1.6. Bags & Accessories Market Value & Forecast (USD Million), 2021-2027
 13.6.1.7. Cosmetics & Fragrances Market Value & Forecast (USD Million), 2021-2027
 13.6.1.8. Jewellery & Watches Market Value & Forecast (USD Million), 2021-2027
 13.6.1.9. Other Luxury Goods Market Value & Forecast (USD Million), 2021-2027
 13.6.2. By Demography
 13.6.2.1. Introduction
 13.6.2.2. Market Attractiveness, By Demography
 13.6.2.3. BPS Analysis, By Demography
 13.6.2.4. Men Market Value & Forecast (USD Million), 2021-2027
 13.6.2.5. Women Market Value & Forecast (USD Million), 2021-2027
 13.6.3. By Distribution Channel
 13.6.3.1. Introduction
 13.6.3.2. Market Attractiveness, By Distribution Channel
 13.6.3.3. BPS Analysis, By Distribution Channel
 13.6.3.4. Online Stores Market Value & Forecast (USD Million), 2021-2027
 13.6.3.5. Offline Stores Market Value & Forecast (USD Million), 2021-2027
 13.6.4. By Geography
 13.6.4.1. Market Attractiveness, By Geography
 13.6.4.2. BPS Analysis, By Geography
 13.6.4.3. GCC Market Value & Forecast (USD Million), 2021-2027
 13.6.4.4. North Africa Market Value & Forecast (USD Million), 2021-2027
 13.6.4.5. South Africa Market Value & Forecast (USD Million), 2021-2027
 13.6.4.6. Rest of Middle East & Africa Market Value & Forecast (USD Million), 2021-2027

14. Competitive Landscape
 14.1. Market Share of Key Players
 14.2. Market Positioning of Major Players in Global Pre-Owned Luxury Goods Market
 14.3. Company Profiles
 14.3.1. THELUXURYCLOSET.COM
 14.3.2. My Luxury Bargain
 14.3.3. FASHIONPHILE, LLC
 14.3.4. Yoogi's Closet, Inc.
 14.3.5. Collector Square
 14.3.6. Vestiaire Collective
 14.3.7. DuaVivo
 14.3.8. Luxepolis Retail Services Pvt Ltd,
 14.3.9. CONNECT JAPAN LUXURY
 14.3.10. Crown & Caliber LLC
 14.3.11. Valuence Holdings Inc.
 14.3.12. Other Prominent Players