According to IMARC Group’s latest report, titled “India Secondhand Luxury Goods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the India secondhand luxury goods market is expected to exhibit a CAGR of 12.18% during 2022-2027.
Secondhand luxury goods are high-end, premium items, such as antique footwear, furniture, jewelry, artworks, apparel, and fashion accessories, that are purchased by the second end user. They are more cost-effective than new products and offer an extended warranty period, making them suitable for the resale market. In addition to this, these luxury goods help reduce waste production and carbon footprint by minimizing the dependence on high-quality raw materials for manufacturing new products. Secondhand luxury goods are largely sold at auctions, bazaar-style fundraisers, charity events, and privately-owned consignment shops.
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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.
India Secondhand Luxury Goods Market Trends:
One of the key factors driving the India secondhand luxury goods include the increasing consumer expenditure power and the rising popularity of various international e-commerce platforms across the country. In line with this, the evolving living standards and surging influence of western fashion trends are other growth-inducing factors. Moreover, the increasing environmental awareness has prompted a gradual shift toward secondhand luxury products as they reduce the volume of waste sent to landfills, which, in turn, is creating a positive outlook for the market. Besides this, the rapid adoption of high-end clothing and fashion accessories, the rising popularity of secondhand luxury goods, the growing focus on sustainability, and the easy availability of products on online retail platforms are providing an impetus to the market growth.
Key Market Segmentation:
The report has categorized the market based on product type, demography and distribution channel.
Breakup by Product Type:
- Jewelry & Watches
- Small Leather Goods
Breakup by Demography:
Breakup by Distribution Channel:
Breakup by Region:
- North India
- West and Central India
- South India
- East India
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=3772&flag=C
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.
Related Reports by IMARC Group:
Secondhand Luxury Goods Market: https://bit.ly/3GhBYMB
Home Decor Market: https://bit.ly/2P6Tjxu
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