With annual growth averaging 10%, the second-hand fashion and luxury goods market is expanding three times faster than the market for new items. According to a BCG report for Vestiaire Collective , it is projected to generate $360 billion by 2030, up from nearly $220 billion today. Among the platform’s users, pre-owned pieces now make up nearly one-third of their wardrobes.

The survey, conducted by BCG for Vestiaire Collective, draws on responses from 7,800 users across 70 countries. Price remains the leading motivation for 80% of respondents purchasing second-hand. Participants also cited a wide range of choices and the uniqueness of certain items (55%), the thrill of hunting for rare finds (50%), and environmental awareness (40%).

The report also examined the behavior of Vestiaire Co

See Full Page