According to the latest report by IMARC Group “Europe Secondhand Luxury Goods Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The Europe secondhand luxury goods market grew at a CAGR of around 6% during 2015-2020.
Secondhand luxury goods are the high-end and premium items that are later purchased by the second end-user. These goods majorly include jewelry, artworks, footwear, apparel, fashion accessories, etc. Secondhand luxury goods are usually durable with an extended warranty period that makes them suitable for the resale market. In Europe, these goods are generally sold at charity events, auctions, bazaar-style fundraisers, privately-owned consignment shops, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The Europe secondhand luxury goods market is primarily propelled by the improving consumer living standards supported by their increasing disposable income levels. Additionally, the emergence of secondhand luxury goods on online platforms, along with the diminishing stigma of using pre-owned luxury goods, has further augmented the market growth across the region. Several online resale sites are forming strategic alliances with various luxury brands to market pre-owned luxury products. Besides this, the rising demand for limited capsule collections and fashion drops have also created scarcity for premium luxury items, which is anticipated to further catalyze the demand for secondhand luxury goods in Europe over the forecasted period.
Breakup by Product Type:
- Jewelry and Watches
- Small Leather Goods
Breakup by Demography:
Breakup by Distribution Channel:
Breakup by Country:
- United Kingdom
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Fendi (LVMH Moet Hennessy Louis Vuitton)
- Vestiaire Collective
- Harrods Limited
- Cartier International (Compagnie Financiere Richemont SA)
- Collector Square
- Rewind Vintage Affairs
- Audemars Piguet
- Chronext AG.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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