Global Second Hand Luxury Goods Market - Analysis By Product Type (Apparel, Watches, Jewellery, Bags, Footwear, Accessories), By Sales Channel, By Region, By Country: Opportunities and Forecast (2018-2024)

Date: 1 November 2019

According to a research report published by Azoth Analytics in October 2019, the Global Second Hand Luxury Goods Market was valued at USD 26.2 billion the year 2018. Global Second Hand Luxury Goods market is expected to grow due to a number of factors which includes rapid urbanization in emerging economies, growing net disposable income among the consumers in developing region and rising demand by working women population. In addition, ever growing urban and young working population and the rising income and increasing penetration of luxury products is fuelling the second hand luxury product market.

The Azoth Analytics research report titled ‘Global Second Hand Luxury Goods Market’ has analysed and segmented the Second Hand Luxury Goods Market By Product Type (Apparel, Watches, Jewellery, Bags, Footwear, Accessories), By Distribution Channel (Online and Offline), By Region (North America, Europe, Asia Pacific, ROW-Latin America, Middle East & Africa) and By Country (U.S, Canada, Mexico, Italy, France, China) for the actual period of 2017 and 2018 and the forecast period of 2019-2024.

Global Second Hand Luxury Goods Market is primarily driven by growing urbanization and rising demand for luxury products among young working population in developing countries. Further, the market is supported by revival in economic conditions in developed countries such as U.S., Japan and U.K., supported by growth in net disposable income in developing countries such as, India and China.  

The market condition of second hand luxury goods has been improving gradually with easy availability of luxury products combined with increasing number of online players in second hand luxury products market. The Asia Pacific region holds the largest market of second hand luxury products and is estimated that it will continue to dominant the market share in the forecast period. Moreover, APAC region is also likely to grow with highest growth rate among the regions.
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