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Europe Secondhand Luxury Goods Market Report by Type (Jewelry and Watches, Handbags, Clothing, Small Leather Goods, Footwear, Accessories, and Others), Demography (Men, Women, Unisex), Distribution Channel (Offline, Online), and Country 2024-2032

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    Report

  • 136 Pages
  • January 2024
  • Region: Europe
  • IMARC Group
  • ID: 5732397
The Europe secondhand luxury goods market size reached US$ 18.0 billion in 2023. The market is projected to reach US$ 34.4 billion by 2032, exhibiting a growth rate (CAGR) of 7.47% during 2023-2032. The escalating demand for sustainable and unique luxury choices, increasing accessibility to iconic brands at reduced costs, and rising number of shoppers seeking value and rarity are among the key factors driving the market growth.

Secondhand luxury goods encompass pre-owned high-end products, including fashion items, accessories, and collectibles, from renowned brands. These items often possess enduring quality and timeless appeal. As sustainability gains prominence, consumers appreciate the eco-friendly aspect of extending the lifecycle of luxury products. The secondhand luxury goods market offers an avenue for individuals to access iconic brands at more accessible prices, attracting value-conscious buyers and collectors. Digital platforms and authentication services provide reassurance regarding product authenticity. The allure of secondhand luxury goods lies in their unique stories and the thrill of discovering rare finds. They foster a sense of exclusivity, as some items become even more coveted with time.

The growing preference for pre-owned luxury items due to the rising awareness of sustainability among consumers that aligns with eco-conscious values, has contributed to their uptake in Europe. Moreover, the increasing appeal of accessing premium brands at more affordable prices that attracts both budget-conscious buyers and aspirational consumers seeking value is positively influencing the market growth. Apart from this, the rapid digital transformation that enables online platforms to connect buyers and sellers seamlessly, is propelling the market growth. Additionally, the growing popularity of authentication services that address concerns about product genuineness has accelerated the product adoption rate. Additionally, the scarcity and exclusivity of certain vintage or limited-edition items make the secondhand market an attractive source for collectors, thereby fueling its growth. Furthermore, the circular economy movement encourages recycling luxury products, leading to reduced waste, thereby contributing to market growth.

Europe Secondhand Luxury Goods Market Trends/Drivers

Growing Demand for Sustainable Consumption

The secondhand luxury goods market in Europe is being driven by the increasing consumer preference for sustainable consumption practices. As environmental concerns rise, more consumers are seeking ways to reduce their carbon footprint and minimize waste. This has led to a significant uptick in the demand for pre-owned luxury items, which align with the principles of circular economy and responsible consumption. The appeal lies in the ability to own high-quality, sought-after products at a fraction of the original cost, while also contributing to a reduction in the overall demand for new goods. This shift is compelling luxury brands and retailers to adapt their strategies to include pre-owned offerings, further supporting the growth of the secondhand luxury goods market in Europe.

Influence of Online Platforms and Digitalization

The rapid growth of online platforms and digitalization has played a pivotal role in favoring the secondhand luxury goods market in Europe. The enhanced convenience and accessibility of e-commerce platforms have democratized the luxury market, making it easier for buyers and sellers to connect regardless of geographical boundaries. Online platforms have created a global marketplace for pre-owned luxury items, expanding the potential customer base and driving market growth. Moreover, digitalization has enhanced transparency and authentication processes, eliminating concerns about the authenticity and condition of secondhand goods. As a result, consumers are more confident in making online purchases, which is further propelling the expansion of the secondhand luxury goods market in Europe.

Europe Secondhand Luxury Goods Industry Segmentation:

The report provides an analysis of the key trends in each segment of the Europe secondhand luxury goods market report, along with forecasts at the regional and country levels from 2023-2032. The report has categorized the market based on product type, demography and distribution channel.

Breakup by Product Type:

  • Jewelry and Watches
  • Handbags
  • Clothing
  • Small Leather Goods
  • Footwear
  • Accessories
  • Others

Jewelry and watches represent the dominating product type

The report has provided a detailed breakup and analysis of the market based on the product type. This includes jewelry and watches, handbags, clothing, small leather goods, footwear, accessories and others. According to the report, jewelry and watches represented the largest segment.

Jewelry and watches are timeless accessories that hold enduring value and are often associated with heritage and craftsmanship, making them prime candidates for secondhand trade. The allure of owning prestigious brands at more accessible prices motivates consumers to explore pre-owned options. Online platforms offer a global marketplace for buyers and sellers, expanding the reach of these luxury items. Moreover, the rarity and uniqueness of certain pieces create a sense of exclusivity that resonates with discerning consumers.

Moreover, enhanced authentication methods and transparent certification processes address concerns related to authenticity, further boosting customer confidence in purchasing secondhand jewelry and watches. As sustainable practices gain traction, opting for pre-owned jewelry and watches aligns with environmentally conscious consumption, thus augmenting the segment growth.

Breakup by Demography:

  • Men
  • Women
  • Unisex

Men account for the majority of the market share

A detailed breakup and analysis of the market based on the demography has also been provided in the report. This includes men, women, and unisex. According to the report, men accounted for the largest market share.

As consumers, men often seek quality, exclusivity, and value, which align seamlessly with the allure of pre-owned luxury items. This demographic's affinity for iconic brands and well-crafted accessories has catalyzed the market expansion, prompting key players to curate offerings that cater specifically to their interests. From vintage watches to designer apparel, men's participation fosters a vibrant ecosystem where timeless elegance meets sustainability.

Their engagement reflects a shift in consumer behavior and underscores the enduring appeal of luxurious craftsmanship. As the European secondhand luxury goods market continues to flourish, men's influence remains integral, shaping a landscape that melds opulence with conscious consumption, while affirming the market's position as a dynamic arena for style-conscious individuals.

Breakup by Distribution Channel:

  • Offline
  • Online

Secondhand luxury goods are majorly distributed through offline channels

A detailed breakup and analysis of the market has been provided based on distribution channel. This includes offline and online. According to the report, offline accounted for the largest market share.

The main factors that are driving the growth of the offline segment is its reach and resonance as physical boutiques, vintage stores, and upscale consignment shops that offer discerning consumers a tactile and personalized experience which online platforms can't replicate. These brick-and-mortar destinations curate meticulously sourced selections of pre-owned treasures, providing a tangible connection to craftsmanship and heritage. The allure of exclusivity and the opportunity to examine items firsthand enhances consumer confidence and fosters lasting relationships. Expert staff, often armed with in-depth product knowledge, guide buyers through their choices, infusing trust and authority into the purchasing process.

Moreover, physical spaces provide a platform for curated events, exhibitions, and consultations, reinforcing the market's position as an authoritative hub of luxury expertise. The synergy between offline channels and the secondhand luxury sector generates engagement and underlines the enduring appeal of in-person interactions in an increasingly digital age, substantiating the market's authenticity and prominence in the realm of refined indulgence.

Breakup by Country:

  • France
  • Italy
  • United Kingdom
  • Germany
  • Russia
  • Spain
  • Others

France exhibits a clear dominance in the market

A detailed breakup and analysis of the market has been provided based on country. This includes France, Italy, the United Kingdom, Germany, Russia, Spain, and others. According to the report, France accounted for the largest market share.

France stands as a driving force behind the Europe secondhand luxury goods market, exerting its rich heritage and sophisticated sensibilities. Renowned as a global epicenter of luxury fashion, the country's historical fashion houses and iconic brands have instilled a culture of timeless elegance. This legacy has cultivated a thriving market for pre-owned luxury goods, where authenticity and craftsmanship hold paramount importance. French vintage boutiques and markets offer a curated selection of coveted pieces, celebrating the fusion of tradition and innovation.

Moreover, the allure of owning a piece of French luxury history draws discerning buyers seeking both unique finds and sustainable choices. France's deep-rooted connection to luxury, coupled with its allure as a trendsetter, positions it as a natural influencer, shaping the direction of the Europe secondhand luxury goods market and emphasizing the enduring appeal of refined indulgence with a touch of Gallic flair.

Competitive Landscape

The market is experiencing steady growth as various key players are driving innovation by incorporating advanced authentication technologies, such as AI-powered algorithms, to guarantee product authenticity. User experiences are being enhanced through intuitive interfaces and virtual try-on features that allow customers to visualize items before purchase. Sustainability remains a priority, evident in eco-friendly packaging practices and partnerships with luxury brands for exclusive collaborations. Moreover, key players are adopting Blockchain technology to ensure transparent record-keeping and provenance verification. Furthermore, streamlined logistics and supply chain strategies are optimizing transaction speed. These innovations collectively demonstrate key players' commitment to providing trustworthy, user-friendly, and sustainable solutions that cater to the rising demand for pre-owned luxury goods.

Competitive Analysis

The market research report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players included:
  • Fendi (LVMH Moët Hennessy Louis Vuitton)
  • Vestiaire Collective
  • Harrods Limited
  • Cartier International (Compagnie Financière Richemont SA)
  • Chrono24
  • Collector Square
  • Rewind Vintage Affairs
  • Audemars Piguet
  • Chronext AG

Key Questions Answered in This Report

1. What was the size of the Europe secondhand luxury goods market in 2023?
2. What is the expected growth rate of the Europe secondhand luxury goods market during 2024-2032?
3. What are the key factors driving the Europe secondhand luxury goods market?
4. What has been the impact of COVID-19 on the Europe secondhand luxury goods market?
5. What is the breakup of the Europe secondhand luxury goods market based on the product type?
6. What is the breakup of the Europe secondhand luxury goods market based on the demography?
7. What is the breakup of the Europe secondhand luxury goods market based on the distribution channel?
8. What are the key regions in the Europe secondhand luxury goods market?
9. Who are the key players/companies in the Europe secondhand luxury goods market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Europe Secondhand Luxury Goods Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Jewelry and Watches
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Handbags
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Clothing
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Small Leather Goods
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Footwear
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Accessories
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Others
6.7.1 Market Trends
6.7.2 Market Forecast
7 Market Breakup by Demography
7.1 Men
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Women
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Unisex
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Distribution Channel
8.1 Offline
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Online
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Country
9.1 France
9.1.1 Market Trends
9.1.2 Market Breakup by Product Type
9.1.3 Market Breakup by Demography
9.1.4 Market Breakup by Distribution Channel
9.1.5 Market Forecast
9.2 Italy
9.2.1 Market Trends
9.2.2 Market Breakup by Product Type
9.2.3 Market Breakup by Demography
9.2.4 Market Breakup by Distribution Channel
9.2.5 Market Forecast
9.3 United Kingdom
9.3.1 Market Trends
9.3.2 Market Breakup by Product Type
9.3.3 Market Breakup by Demography
9.3.4 Market Breakup by Distribution Channel
9.3.5 Market Forecast
9.4 Germany
9.4.1 Market Trends
9.4.2 Market Breakup by Product Type
9.4.3 Market Breakup by Demography
9.4.4 Market Breakup by Distribution Channel
9.4.5 Market Forecast
9.5 Russia
9.5.1 Market Trends
9.5.2 Market Breakup by Product Type
9.5.3 Market Breakup by Demography
9.5.4 Market Breakup by Distribution Channel
9.5.5 Market Forecast
9.6 Spain
9.6.1 Market Trends
9.6.2 Market Breakup by Product Type
9.6.3 Market Breakup by Demography
9.6.4 Market Breakup by Distribution Channel
9.6.5 Market Forecast
9.7 Others
9.7.1 Market Trends
9.7.2 Market Breakup by Product Type
9.7.3 Market Breakup by Demography
9.7.4 Market Breakup by Distribution Channel
9.7.5 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porter’s Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Fendi (LVMH Moët Hennessy Louis Vuitton)
13.3.2 Vestiaire Collective
13.3.3 Harrods Limited
13.3.4 Cartier International (Compagnie Financière Richemont SA)
13.3.5 Chrono24
13.3.6 Collector Square
13.3.7 Rewind Vintage Affairs
13.3.8 Audemars Piguet
13.3.9 Chronext AG
List of Figures
Figure 1: Europe: Secondhand Luxury Goods Market: Major Drivers and Challenges
Figure 2: Europe: Secondhand Luxury Goods Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Europe: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2023
Figure 4: Europe: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2023
Figure 5: Europe: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2023
Figure 6: Europe: Secondhand Luxury Goods Market: Breakup by Country (in %), 2023
Figure 7: Europe: Secondhand Luxury Goods Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 8: Europe: Secondhand Luxury Goods (Jewelry and Watches) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Europe: Secondhand Luxury Goods (Jewelry and Watches) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Europe: Secondhand Luxury Goods (Handbags) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Europe: Secondhand Luxury Goods (Handbags) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Europe: Secondhand Luxury Goods (Clothing) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Europe: Secondhand Luxury Goods (Clothing) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Europe: Secondhand Luxury Goods (Small Leather Goods) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Europe: Secondhand Luxury Goods (Small Leather Goods) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Europe: Secondhand Luxury Goods (Footwear) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Europe: Secondhand Luxury Goods (Footwear) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Europe: Secondhand Luxury Goods (Accessories) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Europe: Secondhand Luxury Goods (Accessories) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Europe: Secondhand Luxury Goods (Other Product Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Europe: Secondhand Luxury Goods (Other Product Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Europe: Secondhand Luxury Goods (Men) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Europe: Secondhand Luxury Goods (Men) Market Forecast: Sales Value (in Million US$), 2024-2032`
Figure 24: Europe: Secondhand Luxury Goods (Women) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Europe: Secondhand Luxury Goods (Women) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Europe: Secondhand Luxury Goods (Unisex) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Europe: Secondhand Luxury Goods (Unisex) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Europe: Secondhand Luxury Goods (Offline) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Europe: Secondhand Luxury Goods (Offline) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Europe: Secondhand Luxury Goods (Online) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Europe: Secondhand Luxury Goods (Online) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: France: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: France: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2023
Figure 34: France: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2023
Figure 35: France: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2023
Figure 36: France: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Italy: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Italy: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2023
Figure 39: Italy: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2023
Figure 40: Italy: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2023
Figure 41: Italy: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: United Kingdom: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: United Kingdom: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2023
Figure 44: United Kingdom: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2023
Figure 45: United Kingdom: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2023
Figure 46: United Kingdom: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: Germany: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: Germany: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2023
Figure 49: Germany: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2023
Figure 50: Germany: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2023
Figure 51: Germany: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Russia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Russia: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2023
Figure 54: Russia: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2023
Figure 55: Russia: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2023
Figure 56: Russia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Spain: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Spain: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2023
Figure 59: Spain: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2023
Figure 60: Spain: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2023
Figure 61: Spain: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Others: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Others: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Europe: Secondhand Luxury Goods Industry: SWOT Analysis
Figure 65: Europe: Secondhand Luxury Goods Industry: Value Chain Analysis
Figure 66: Europe: Secondhand Luxury Goods Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Europe: Secondhand Luxury Goods Market: Key Industry Highlights, 2023 and 2032
Table 2: Europe: Secondhand Luxury goods Market Forecast: Breakup by Product Type (in Million US$), 2024-2032
Table 3: Europe: Secondhand Luxury Goods Market Forecast: Breakup by Demography (in Million US$), 2024-2032
Table 4: Europe: Secondhand Luxury Goods Market Forecast: Breakup by Distribution Channel (in Million US$), 2024-2032
Table 5: Europe: Secondhand Luxury Goods Market Forecast: Breakup by Country (in Million US$), 2024-2032
Table 6: Europe: Secondhand Luxury Goods Market: Competitive Structure
Table 7: Europe: Secondhand Luxury Goods Market: Key Players

Companies Mentioned

  • Fendi (LVMH Moët Hennessy Louis Vuitton)
  • Vestiaire Collective
  • Harrods Limited
  • Cartier International (Compagnie Financière Richemont SA)
  • Chrono24
  • Collector Square
  • Rewind Vintage Affairs
  • Audemars Piguet
  • Chronext AG

Methodology

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Table Information