{"id":288630,"date":"2025-10-09T07:06:15","date_gmt":"2025-10-09T07:06:15","guid":{"rendered":"https:\/\/www.europesays.com\/us\/288630\/"},"modified":"2025-10-09T07:06:15","modified_gmt":"2025-10-09T07:06:15","slug":"global-resale-market-to-hit-360b-by-2030-fueled-by-gen-z-and-innovation","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/288630\/","title":{"rendered":"Global Resale Market to Hit $360B by 2030, Fueled by Gen Z and Innovation"},"content":{"rendered":"

\n\tPARIS \u2014<\/strong> The global resale<\/a> market for fashion and luxury goods is continuing to soar, projected to reach between $320 billion and $360 billion by 2030, according to a new study by Boston Consulting Group and luxury resale<\/a> platform Vestiaire Collective<\/a>, released Thursday.<\/p>\n

\n\tThe study, based on a survey of 7,800 Vestiaire Collective<\/a> users worldwide, puts the resale market at roughly 8 percent of total fashion and luxury sales globally, with penetration expected to hit 10 percent by the end of the decade.<\/p>\n

\n\tAnd with a compound annual growth rate of 10 percent, it\u2019s expanding three times faster than primary sales and reshaping how consumers shop, especially Gen Z and U.S.-based consumers hit by inflation.<\/p>\n

\n\t\u201cWith resale now growing three times faster than firsthand fashion and luxury, the market has gone from experimental to essential,\u201d said BCG managing director and partner Felix Krueger. \u201cMany brands now see it as a key channel for attracting new customers. With Gen Z and other resale-native consumers leading the shift, momentum is only growing.\u201d<\/p>\n

\n\tEurope currently leads this growth, fueled by regulatory support from the European Union and heightened consumer awareness around sustainability<\/a> and circularity, while U.S. consumers are most concerned by value and brand accessibility.<\/p>\n

\n\tFifty-five percent of resale purchases occur through online multibrand platforms such as Vestiaire Collective, The RealReal and Vinted.<\/p>\n

\t\tAspirational Access<\/strong>\t<\/p>\n

\n\tResale is no longer niche, and is an escape from the one-two punch of inflation and economic uncertainty, with affordability being the key driver behind the sector\u2019s growth. Price was the primary motivator of 78 percent of respondents, especially among aspirational buyers seeking premium labels they might not otherwise be able to afford.<\/p>\n

\n\t\u201cWhether seeking desirable pre-loved fashion pieces at affordable prices or pursuing the thrill of the hunt for truly unique finds, resale is now firmly embedded in how people shop and build their wardrobes. Today, it\u2019s a deliberate choice,\u201d said Vestiaire Collective cofounder and president Fanny Moizant.<\/p>\n

\n\tNotably, 66 percent of respondents indicated that resale enabled them to discover or purchase a brand for the first time, up from 59 percent in 2022. This highlights resale\u2019s growing function not just as a secondary market but as a strategic customer acquisition channel that expands brand reach and fosters long-term loyalty.<\/p>\n

\n\tWhile leather goods, apparel and footwear dominate the resale market as approximately 80 percent of transactions, luxury watches and fine jewelry are growing fast. The resale of watches alone is forecasted to capture 35 to 40 percent of the global watch market by 2030, the report said, in part due to the rising prices of timepieces in the primary market.<\/p>\n

\n\tGen Z is leading the charge here. Resale makes up nearly one-third of their wardrobes, almost half of their handbag collections, and they\u2019re more likely than any other demographic to discover a new brand through a secondhand buy. In a world of rising retail prices and shrinking disposable income, secondhand offers both a point of entry and a statement of values.<\/p>\n

\t\tU.S. Consumers Value-driven, Europe Cites Sustainability<\/a><\/strong>\t<\/p>\n

\n\tThe study reveals marked regional differences, particularly between U.S. and European resale consumers. While affordability ranks as the top driver in both markets, 87 percent of U.S. respondents cited price is their top reason for shopping resale \u2014 11 percentage points higher than in Europe.<\/p>\n

\n\tHowever, sustainability is less of a priority for U.S. consumers, with only 28 percent reporting resale as supporting more sustainable fashion behaviors compared to 33 percent in Europe.<\/p>\n

\n\tU.S. consumers also more frequently reported preferring secondhand luxury labels to more affordable new premium-level items, reflecting what the report calls a \u201ctransactional, value-led approach\u201d as they react to economic concerns and inflation.<\/p>\n

\t\tThe Big Opp of DPPs<\/strong> \t<\/p>\n

\n\tAs resale gains momentum, so does the need for trust, transparency and traceability, particularly in the luxury segment, where authentication is a primary concern. Enter digital product passports, or DPPs, a new technology solution set to reshape how consumers and brands interact with products over time.<\/p>\n

\n\tStructured data that follows a product through its lifecycle, DPPs promise to streamline verification, improve resale efficiency, and offer richer product histories \u2014 from production details to ownership changes. They\u2019re seen by some industry players as the missing infrastructure needed to scale resale securely, as well as add storytelling capabilities.<\/p>\n

\n\t\u201cThe next wave of value in resale lies in how we digitize a product\u2019s provenance,\u201d said BCG managing director Catharina Martinez-Pardo. \u201cDPPs are a strategic tool that builds trust with consumers and opens up new ways for brands to remain involved beyond the initial sale.\u201d<\/p>\n

\n\tBut for now, awareness lags. According to the survey, two-thirds of consumers had never heard of DPPs, and another 15 percent were unfamiliar with what it actually does. But those who do understand DPPs believe they have value to authenticate, as well as understand product detailed specs. That ranked particularly important for the handbag category, where nearly 80 percent of respondents said they would want access to DPPs and additional information.<\/p>\n

\n\tThe stakes are especially high in Europe, where legislation mandating DPPs for textiles is expected to take effect in 2027. Early movers would have an advantage and build brand loyalty, the report said, as well as support authentication services.<\/p>\n

\n\tBCG believes that the evolution of resale is an opportunity for brands not only to rethink their product pipelines, but also their long-term engagement strategies. If brands once thought of secondhand as a threat to full-price sales, it can be positioned as a discovery channel and promote customer loyalty and retention among aspirational and younger customers.<\/p>\n","protected":false},"excerpt":{"rendered":"PARIS \u2014 The global resale market for fashion and luxury goods is continuing to soar, projected to reach…\n","protected":false},"author":3,"featured_media":288631,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[64,135,148298,1763,67,132,68,86263],"class_list":{"0":"post-288630","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets","10":"tag-resale","11":"tag-sustainability","12":"tag-united-states","13":"tag-unitedstates","14":"tag-us","15":"tag-vestiaire-collective"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115342946073127518","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/288630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=288630"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/288630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/288631"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=288630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=288630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=288630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}