The second-hand luxury market has grown rapidly in the UK in recent years. According to a European statistic, global consumer interest in second-hand luxury goods increased year by year between 2015 and 2020, with 62 per cent willing to buy second-hand luxury goods by 2020.
According to industry analysis, the market will grow at a CAGR of 8% by 2025. The global second-hand market for personal luxury goods is forecast to be valued at more than 22 billion euros, or about $2.2B.
Data show that in recent years, Japan’s second-hand luxury goods market at an average annual rate of 5% continued to expand, the size of more than 260 billion yen, about $2.5B. According to incomplete statistics, there are currently more than 1000 second-hand luxury brick-and-mortar stores in Japan.
To ensure fairness and transparency of transactions, each store is equipped with at least one professional appraiser. In addition, both physical and online stores must hold a government-issued business license, which can result in heavy fines, criminal liability or even revocation of the license if found to be selling counterfeit goods.