Global Luxury Resale Market Report
A new report published by Business Research Company, “Luxury Resale Global Market Report 2024 – Market Size, Trends, and Global Forecast 2024-2033”, provides a detailed analysis of key size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
According to the report, the luxury resale market has seen strong growth in recent years, growing from $31.67 billion in 2023 to $34.79 billion in 2024, at a compound annual growth rate (CAGR) of 9.8%. The luxury resale market is expected to grow rapidly in the coming years, reaching $50.9 billion by 2028, at a compound annual growth rate (CAGR) of 10%.
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What is driving the growth of the global luxury resale market?
Expansion of e-commerce drives growth in luxury resale market
The expansion of the e-commerce industry is expected to drive the growth of the luxury resale market in the coming years. E-commerce is the buying and selling of goods and services over the internet. The widespread use of smartphones and internet access has facilitated the expansion of e-commerce, providing consumers with convenience and a wider variety of product choices. E-commerce is transforming the luxury resale market by enabling global reach, increasing transparency in pricing and authenticity verification, and providing convenient access to a wider variety of products through advanced technology and a seamless shopping experience.
What are the main trends in the global luxury resale market?
Innovative Use of AI in Luxury Resale Apps
A leading player in the luxury resale market is developing a mobile app that leverages artificial intelligence (AI) and human experts to improve user experience and ensure the authenticity and quality of luxury goods traded on their platform. AI algorithms are used to authenticate luxury items based on detailed image analysis and comparison with known authentic items. This comparison ensures the authenticity of products sold on the platform, increasing buyer trust and confidence.
How is the global luxury resale market segmented?
The luxury resale market covered in this report is segmented into 1) By Type: Apparel & Accessories, Watches, Fine Jewelry, Leather Goods, and Others.
2) Demographics: Male, Female, Unisex
3) By distribution type: online platform, brick-and-mortar store, consignment store
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What is the competitive landscape of the global luxury resale market?
Key players operating in the luxury resale market are Coupang Inc., YOOX Net-a-Porter Group SpA, The RealReal Inc., Poshmark Inc., ThredUp Inc., StockX LLC, The Row, 1stdibs.Com Inc., Vestiaire Collective, Depop Limited, Rebag, Fashionphile Group LLC, Luxepolis Retail Services Pvt Ltd, Grailed Inc., Luxury Closet Inc., Luxury Garage Sale LLC, The Closet Inc., LePrix Inc., Collector Square, Garderobe Pre Loved Luxury Fashion, Timepiece 360 Ltd., Yoogi’s Closet Inc., Couture Designer Resale Boutique, Luxury Promise Ltd and Cudoni.
The Global Luxury Resale Market
1. Overview
2. Luxury Goods Resale Market Report Composition
3. Trends and Strategies in the Luxury Goods Resale Market
4. Luxury resale market – macroeconomic scenario
5. Size and growth of the luxury resale market
…….
27. Luxury Resale Market Competitive Landscape and Company Profiles
28. Major Mergers and Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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