According to IMARC Group’s latest report, titled “India Secondhand Luxury Goods Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, the Indian market is expected to exhibit a CAGR of 12.18% during 2022-2027. Secondhand luxury goods include high-end and premium products, such as handbags, antique furniture, jewelry, apparel, and fashion accessories, that are purchased by a second or later end-user. They are commonly purchased through auctions for charity and private-owned consignment stores. These products are priced significantly lower than the original product, which makes them accessible to a large section of society.
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The market in India is primarily driven by the inflating disposable incomes of the masses. Along with this, the rising brand consciousness and their shifting lifestyle preferences have led to the widespread preference for high-end fashion brands, which is acting as a major growth-inducing factor. Additionally, the increasing investments by key players across the country to upgrade their authentication processes and quality checks for providing safe and reliable goods to end-users are also creating a positive outlook for the market. Some of the other factors contributing to the market growth include rapid urbanization and evolving fashion trends in the country. Looking forward, the Indian secondhand luxury goods market is expected to continue its strong growth during the forecast period (2022-2027).
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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 behaviors of the consumers globally, and our estimates about the latest market trends and forecasts, are being done after considering the impact of this pandemic.
Market Segmentation:
Breakup by Product Type:
- Handbags
- Jewelry & Watches
- Clothing
- Small Leather Goods
- Footwear
- Accessories
- Others
Breakup by Demography:
- Women
- Men
- Unisex
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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