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Global Luxury Resale Market Report 2022: Surge in the Luxury Goods E-commerce Sales and Increasing Thrifters' Demand for Pre-owned Luxury

·6-min read
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Dublin, May 26, 2022 (GLOBE NEWSWIRE) -- The "Global Luxury Resale Market: Analysis By Product, By Distribution Channel, By Gender, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.

The global luxury resale market in 2021 was valued at US$32.61 billion, and is likely to reach US$51.77 billion by 2026.

In the past few years, the sale of the pre-owned luxury goods has been increasingly very rapidly and the stigma associated with the consumption of the second-hand luxury has been disappearing. The luxury resale market is projected to grow at a CAGR of 9.68% during the forecast period of 2022-2026.

The report includes:

  • An in-depth analysis of the global luxury market by product, by distribution channel, by gender, by region, etc.

  • The regional analysis of the luxury and hard luxury resale market, including the following regions:

    • Europe (France, UK, Italy, Germany, and Rest of Europe)

    • North America (The US, Mexico and Canada)

    • China

    • Rest of World

  • Comprehensive information about emerging markets. This report analyses the market for various segments across geographies.

  • Provides an analysis of the COVID-19 impact on the global luxury resale market, with post COVID impact analysis.

  • Assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall luxury resale market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.

  • Evaluation of the potential role of luxury resale to improve the market status.

  • Identification of new technological developments, R&D activities, and collaborations among e- resale platforms with luxury companies occurring in the luxury resale market

  • In-depth profiling of the key players, including the assessment of the business overview, market strategies, regional and business segments of the leading players in the market.

  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

  • The in-depth analysis provides an insight into the market, underlining the growth rate and opportunities offered in the business.

Market Segmentation Analysis:

  • By Product: The report splits the global luxury resale market into three different segments based on the type of product: apparel luxury, hard luxury and others. Apparel luxury resale segment held more than 73% share in luxury resale market in 2021, and is the fastest growing segment due to growing acceptability of second-hand apparel from consumers.

  • By Distribution Channel: The market report has segmented the global luxury and hard luxury resale markets into two segments on the basis of distribution channel: offline and online. In both the markets, the fastest growing category is online, with a CAGR of roughly 19% for the period 2022-2026, owing to larger influence of digitalization on consumer's selection of luxury resale brands and merchandise.

  • By Gender: On the basis of gender, the market has been segmented into two namely male and female. Male segment held the major share in the market. With more brands selling second-hand luxury apparels and watches at a discounted pricing with great offers on the ecommerce platforms, the demand from males for luxurious resale items have increased in recent years.

  • By Region: According to this report, the global market can be divided into four major regions, on the basis of geographical areas: Europe, North America, China, and Rest of World. The European luxury resale market enjoyed the largest share of almost half of the total of the global market share in 2021, primarily owing to widespread presence of several luxury retail brands ranging from fashion apparel to cosmetics. On the other hand, the China hard luxury resale market is the emerging region in the global market, growing at a CAGR of 12.5% due to the surge in the demand for pre-owned hard luxury items such as watches.

Competitive Landscape and Recent Developments:

Historically, the global luxury resale market has been fragmented and dominated by small local boutiques with little consumer reach. However, due to the impact of COVID-19, the market witnesses the growing online luxury resale sites which have completely changed the luxury resale market and the market move towards consolidation.

Recently, many online resale platforms have seen collaborating with luxury brands to ensure authentication of the products sold online. While, offline stores such as boutiques are closing or adopting hybrid models where they are showcasing their products and its information online so that customers are aware about the products and running their shops as exhibition, and storing purpose.


Key Topics Covered:

1. Executive Summary

2. Introduction
2.1 Luxury Resale: An Overview
2.2 Luxury Resale Segmentation: An Overview

3. Global Market Analysis
3.1 Global Luxury Resale Market: An Analysis
3.2 Global Luxury Resale Market: Product Analysis
3.3 Global Luxury Resale Market: Distribution Channel Analysis
3.4 Global Hard Luxury Resale Market: Distribution Channel Analysis

4. Regional Market Analysis

5. Impact of COVID-19

6. Market Dynamics
6.1 Growth Driver
6.1.1 Growing Millennial Population
6.1.2 Increasing Middle-Class Population and Spending
6.1.3 Surging Urban Population
6.1.4 Escalating Internet Users
6.1.5 Growing High Net Worth Individuals (HNWI) Population
6.2 Challenges
6.2.1 Lack of Trust in Buying Second-hand Luxury
6.2.2 E-commerce Fraud
6.2.3 Lack of Awareness
6.3 Market Trends
6.3.1 Surge in the Luxury Goods E-commerce Sales
6.3.2 Increasing Thrifters' Demand for Pre-owned Luxury
6.3.3 Growing Popularity of Second-hand Soft Luxury
6.3.4 Involvement of Product Authentications Techniques

7. Competitive Landscape
7.1 Global Luxury Resale Market Players: Websites Comparison
7.2 The US Luxury Resale Market Players Analysis

8. Company Profiles

  • Compagnie Financiere Richemont SA (YOOX Net-a-Porter Group )

  • Cudoni

  • Everlane Inc.

  • Farfetch Ltd.

  • Kynetic (Rue La La)

  • OfferUp, Inc. (Letgo Inc.)

  • Poshmark Inc.

  • TechStyle Fashion Group (JustFab Inc.)

  • The RealReal, Inc.

  • ThredUp, Inc.

  • Trendly, Inc. (Rebag)

  • Vestiaire Collective (Tradesy)

For more information about this report visit https://www.researchandmarkets.com/r/v5hs4g

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