India Second Hand Luxury Goods Market Forecast Report 2028 | Handbags, Footwear, Accessories
According to IMARC Group’s latest report, titled “India Secondhand Luxury Goods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the India secondhand luxury goods market size reached US$ 555.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,060.8 Million by 2028, exhibiting a growth rate (CAGR) of 12% during 2023-2028.
Secondhand luxury goods are premium and high-end products that are purchased by the second or later end user. They commonly include footwear, antique furniture, apparel, bags, watches, artworks, jewelry, etc. These products offer an extended warranty period and economic benefits to the seller, as they can be resold instead of being discarded. In line with this, they aid in reducing carbon footprints and minimizing the dependence on raw materials while lowering waste production levels. Secondhand luxury goods are widely available via online platforms across India.
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India Secondhand Luxury Goods Market Trends:
The widespread adoption of these products that are sold at auctions, bazaar-style fundraisers, privately-owned consignment shops, charity events, online retail channels, etc., is primarily driving the second hand luxury goods market in India. Additionally, the emerging western fashion trends, improving living standards of individuals, and the increasing disposable income levels of individuals are further catalyzing the market growth. Besides this, the growing utilization of secondhand luxury products, which decrease the volume of waste sent to landfills, on account of the rising consumer environmental concerns, is acting as another significant growth-inducing factor. Moreover, the escalating demand for high-end fashion accessories and clothing, owing to their easy accessibility and affordability, is stimulating market growth across the country. Apart from this, the introduction of enhanced authentication procedures and quality checks and the expanding fashion industry are also propelling the market growth. Furthermore, the development of international e-commerce platforms that offer overseas delivery options is anticipated to fuel the India secondhand luxury goods market over the forecasted period.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Key Market Segmentation:
The report has categorized the market based on product type, demography, and distribution channel.
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- 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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