Europe Used Luxury Goods Market Report, Industry Overview, Growth Rate and Forecast 2026 – The Manomet Current
The European used luxury goods market grew at a CAGR of around 6% during the period 2015-2020. Looking ahead, the market expects to continue its moderate growth over the next five years. according to the latest IMARC group report
The report provides detailed analysis of the market by product type (jewelry and watches, handbags, clothing, small leather goods, footwear, accessories and others), demographics (men, women and unisex), distribution channel and country.
To note: We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
Second-hand luxury goods are the high-end and premium items which are then purchased by the second end user. These products mainly include jewelry, artwork, shoes, clothing, fashion accessories, etc. Used luxury goods are generally durable with an extended warranty period which makes them suitable for the resale market. In Europe, these products are typically sold at charity events, auctions, bazaar-type fundraisers, private consignment shops, etc.
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The European second-hand luxury goods market is mainly driven by the improvement in the standard of living of consumers supported by the increase in the level of their disposable income. In addition, the emergence of second-hand luxury goods on online platforms, as well as the decrease in the stigma associated with the use of second-hand luxury goods, has further increased the market growth in the region. Several online resale sites are forming strategic alliances with various luxury brands to market second-hand luxury products. On top of that, the growing demand for limited capsule collections and the downturn in fashion have also created a shortage of high-end luxury items, which is expected to further catalyze the demand for second-hand luxury goods in Europe over the course of this year. the forecast period.
The competitive landscape of the industry was also examined along with the profiles of the major players.
- Fendi (LVMH Moët Hennessy Louis Vuitton)
- Vestiaire Collective
- Harrods Limited
- Cartier International (Compagnie Financière Richemont SA)
- Square of Collectors
- Rewind vintage stuff
- Audemars Piguet
- Chronext SA.
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Segmentation of the used luxury goods market in Europe:
Breakdown by product type:
- Jewelry and Watches
- Hand bags
- Little leather shop
Breakdown by demography:
Breakdown by distribution channel:
Breakdown by country:
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously monitoring changes in the markets, as well as the industrial behaviors of consumers around the world and our estimates on the latest market trends and forecasts are made afterwards. examining the impact of this pandemic.
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