New York, NY -- (SBWIRE) -- 12/04/2019 -- Second Hand Luxury Goods Market:

Executive Summary

A luxury good refers to a good of the top level, both, in terms of quality and price. Alternative to necessity goods, luxury products are often bought by rich consumers as they are more costly. Luxury goods are considered as a status symbol by many people in the society. Luxury goods tend to make people's lives more pleasant with its special qualities, features, attributes, that are only intrinsic to the said product. Hence, the adoption of luxury goods is an attractive offer for most consumers. However, since these products are expensive, many consumers opt for second hand or pre owned luxury goods to avail the same benefits, but at a cheaper tag.

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Second hand luxury goods refer to the buying and selling of luxury goods that were previously owned. There are a number of factors fostering to the growth of the global second hand luxury goods market over the forecast period. This report has shed light on all these factors to provide insights in the same. The global second hand luxury goods market is witnessing fast-paced growth over the forecast period, owing to the rapid urbanization noted in emerging economies. Such a rapid urbanization in economies has led to a high influence of media and entertainment on people and their lifestyle. With owning luxury goods turning into a style statement and a societal statement, many consumers are shifting towards the adoption of previously owned luxury goods to fit the conundrum.

Furthermore, upscaling adoption of luxury goods in developing countries and ascending demand for the same from working women is another factor supplementing the snowballing second hand luxury goods market. A rise in the population of working women across the globe has led to a skyrocketing demand in the second hand luxury goods market. In addition, the ever-growing working population and upscaling disposable income have also created an environment conducive of higher adoption of second hand luxury goods.

Market Segmentation

The global second hand luxury goods market is studied for a detailed segmentation that has enabled faster understanding and decision-making for various stakeholders in the market. Such segmentation is based on type, distribution channel, and region. Based on type, the global second hand luxury goods market is segmented into apparel, watches, jewellery, bags, footwear, and accessories. Based on distribution channel, the global second hand luxury goods market is segmented into online stores and offline.

Detailed Regional Analysis

The global second hand luxury goods market is segmented into the regions of Asia Pacific, North America, Europe, South America, and the Middle East & Africa. The global second hand luxury goods market is supported by the revival of the economic growth in various developed countries such as the UK, the US, and Japan. Furthermore, growth in the net income of consumers in various developing countries such as India and China has also magnified the adoption of second hand luxury goods over the forecast period. Asia Pacific is estimated to hold the maximum share of the global second hand luxury goods market.

Continuous…

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