The secondhand goods industry in Europe reached a valuation of USD 65,905.8 million in 2023. Demand for secondhand goods in Europe recorded a Y-o-Y growth of 9.1% in 2023. The secondhand goods sales in Europe are expected to reach USD 71,903.2 million in 2024. From 2024 to 2034, sales of secondhand goods in Europe are projected to exhibit 8.2% CAGR and an industry size of USD 1,57,460.3 million by 2034.
| Attribute | Details |
|---|---|
| Demand Forecast for Secondhand Goods (2024) | USD 71,903.2 million |
| Demand Analysis for Secondhand Goods in Europe (2034) | USD 1,57,460.3 million |
| CAGR Estimation (From 2024 to 2034) | 8.2% |
Consumers in European countries spend extensively on goods and services, including secondhand goods. Increasing fast fashion and surging high-end industries in European countries create a large pool of potential buyers and sellers of secondhand goods. Several trends propel secondhand goods demand, including the growing awareness of sustainability and the increasing popularity of online shopping platforms.
European consumers are becoming aware of the environmental impact of new goods and are progressively turning to secondhand goods as a sustainable option. The shift toward a circular economy and changing consumer attitudes toward sustainability and reducing waste have strengthened the demand for secondhand goods in Europe.
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The secondhand goods industry in the region witnessed a steady rise, driven by multiple factors, including increasing environmental consciousness, a growing preference for vintage items, and economic motivations favoring cost-effective shopping. Consumer attitudes toward pre-owned items evolved positively, with a shift in perception from affordable options to a choice reflecting sustainability.
The secondhand goods market indicates sustained growth in Europe at an accelerated pace. The trajectory is propelled by deeper societal commitments toward sustainability, amplified by stringent regulations promoting circular economies and reduced carbon footprints. Adopting resale and reuse practices to become mainstream, influencing consumer behaviors across diverse demographics.
The collaborations between traditional retailers and secondhand marketplaces are likely to intensify, blurring the lines between new and pre-owned goods, thereby significantly reshaping the retail landscape. The forecasted period anticipates a robust and dynamic secondhand goods demand in Europe, fundamentally altering how consumers perceive, purchase, and engage with used goods.
The market size for secondhand goods in Europe is estimated to exhibit a CAGR of 8.2% during the forecast period.
Affordability of Used Products
The secondhand goods industry in Europe thrives on several economic drivers. Consumers are drawn to lower-priced purchases, making it an attractive option for budget-conscious individuals. Bargaining opportunities, often present in person-to-person transactions, add a layer of negotiation to the buying process. Fair pricing is crucial for buyers seeking value in the secondhand goods industry.
Reducing alternatives and transactional costs simplifies decision-making for buyers with specific preferences or limited budgets. Some individuals engage in the market not just for personal use but as a business, aiming to profit from resale.
The increasing utility of merchandise, incredibly unique or vintage items, contributes to the market appeal. The sector is dynamic in Europe, and economic factors compel buyers and sellers to strive for value, affordability, and entrepreneurial opportunities.
Brick and Mortar Businesses Support Reselling
The secondhand goods industry is witnessing a transformative trend as brick-and-mortar companies actively embrace resale as a lucrative and fashionable market. Secondhand goods vendors in Europe, like Ikea, have launched buyback programs and dedicated pre-owned furniture stores, challenging the stigma surrounding repair, refurbishment, and resale.
Leading traditional retailers recognize the benefits of partnering with secondhand goods companies in Europe, with examples like ThredUp collaborating with Walmart and JCPenney. Backend logistics partnerships, such as Trove's associations with renowned brands like Nordstrom and Patagonia, showcase a growing acceptance of circular practices.
Even fast-fashion giant HandM is piloting repair programs and stores exclusively selling secondhand goods. This shift signals a significant industry-wide recognition of the economic and environmental advantages of the secondhand industry.
Supply of Inventory and Acquisition of New Sellers
A key challenge in the Europe market growth for secondhand goods is the struggle to grow inventory, specifically attracting coveted pieces at competitive prices. The short to mid-term supply collection limitation hinders marketplace control, directly affecting sales of secondhand goods. The conversion of firsthand customers into secondhand sellers faces obstacles, requiring increased education about resale benefits. Despite a trend where 70% of shoppers still opt for single-use outfits, unlocking value from this mindset remains challenging.
Consumers often need to pay more attention to resale due to insufficient awareness or difficulty grasping the immediate value trade-off. Streamlining communication between brands and resale channels presents an opportunity for incentives, encouraging thoughtful consumption habits and fostering a shift in consumer behavior toward embracing the secondhand goods industry in Europe.
This section highlights the salient features of the secondhand goods industry in several renowned European nations. Of every country looked at, Spain's demand for secondhand goods is anticipated to expand at a rapid rate of 11.8% CAGR. The following nation is France, where sales of secondhand goods are steadily rising at a CAGR of 11.3%.
The CAGRs of the United Kingdom, Germany, Belgium, and Spain are going to remain steady during the forecast period.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United Kingdom | 7.2% |
| Belgium | 5.9% |
| Finland | 6.1% |
Germans, known for their strong environmental awareness, are increasingly embracing the concept of circular economy, which encourages the reuse and recycling of goods to minimize waste and reduce the carbon footprint. Secondhand goods align perfectly with this ethos, appealing to sustainability-conscious consumers.
| Country | Germany |
|---|---|
| CAGR (From 2024 to 2034) | 6.3% |
The rise of online platforms and marketplaces has also significantly boosted the Europe demand for secondhand goods. Websites and apps dedicated to selling pre-owned items have made it easier for consumers to access various products, fostering convenience and accessibility. The shift to online platforms has expanded the Germany secondhand goods industry's reach beyond local communities, allowing buyers and sellers to connect nationwide.
Consumers increasingly valued the idea of recycling and extending the lifecycle of products to reduce waste and contribute to an eco-friendly lifestyle. This sentiment was influential among the urban populations, who saw secondhand items as a means of expressing their individuality while aligning with ethical and sustainable consumption practices.
| Country | France |
|---|---|
| CAGR (From 2024 to 2034) | 11.3% |
The market outlook for secondhand goods in France remains positive, with continued growth anticipated as sustainability and conscious consumerism become deeply embedded in societal values. The market evolution toward embracing secondhand items as a mainstream choice is likely to persist, supported by evolving consumer preferences and a robust infrastructure for buying and selling pre-owned goods.
The fashion and luxury segment within the secondhand goods sector has witnessed a surge in interest, especially among Italy's fashion-savvy population. The allure of acquiring premium, well-maintained items at reduced prices has spurred the success of reputable consignment stores and dedicated online platforms specializing in luxury resale.
| Country | Italy |
|---|---|
| CAGR (From 2024 to 2034) | 9.7% |
Italy's commitment to sustainable practices and circular economy initiatives underpins the market growth for secondhand goods. Governmental policies fostering the reuse, repair, and recycling of goods align with consumers' growing preference for environmentally friendly shopping habits.
This section provides a segmentation analysis of the secondhand goods sales in Europe, highlighting the growing interest in the clothing and fashion segment and the producers' astute observation of market trends.
It is important to note that online marketplaces dominate all other categories. The report offers in-depth details about secondhand goods' market dynamics and preferences to help companies make strategic decisions.
The apparel and fashion segment is one of the prominent and thriving sectors. The segment encompasses various products, including pre-owned clothing, shoes, handbags, and accessories from multiple brands, spanning high-end luxury items and everyday wear.
Market Growth Outlook by Key Product Type:
| Product Type | pparel and Fashion |
|---|---|
| Value CAGRA | 5.7% |
Consumers are embracing the concept of being gently used, appreciating the affordability, uniqueness, and eco-friendliness of purchasing secondhand apparel. The appeal of retro fashion trends has contributed to the segment's prominence, attracting consumers seeking distinctive, unique pieces that showcase individuality and style.
The online marketplace has witnessed the leading CAGR within the secondhand goods industry in Europe. The surge is primarily attributed to shifting consumer behaviors favoring digital platforms for buying and selling used items. The convenience, vast reach, and ease of transactions offered by online marketplaces have propelled the growth significantly.
Market Growth Outlook by Key Sales Channel:
| Sales Channel | Online Market Place |
|---|---|
| Value CAGR | 12.6% |
The flexibility and accessibility of these online platforms have attracted both sellers looking to declutter or earn extra income and buyers seeking cost-effective yet quality products. The online segment of the secondhand goods sector has outpaced traditional brick-and-mortar resale stores in terms of growth rate and market share.
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The Europe market for secondhand goods presents a dynamic and competitive landscape characterized by a blend of traditional thrift stores, online platforms, and emerging market disruptors. With their established presence and community ties, traditional thrift stores continue to play a significant role.
The rise of online platforms such as eBay, Depop, and Vinted and local marketplaces like Schpock has transformed the market's dynamics of secondhand goods. Regulatory shifts and consumer consciousness regarding sustainability, affordability, and unique findings compel competition. Increased awareness about the environmental implications of fast fashion fuels market growth for secondhand goods as consumers opt for pre-owned items. Brands are increasingly adopting circular strategies.
Recent Advancements
| Attribute | Details |
|---|---|
| Estimated Valuation (2024) | USD 71,903.2 million |
| Projected Valuation (2034) | USD 1,57,460.3 million |
| Anticipated CAGR (2024 to 2034) | 8.2% |
| Historical Analysis of Secondhand Goods in Europe | 2019 to 2023 |
| Demand Forecast for Secondhand Goods in Europe | 2024 to 2034 |
| Quantitative Units | Revenue in USD million and CAGR from 2024 to 2034 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Key Countries Analyzed While Studying Opportunities in Secondhand Goods in Europe | The United Kingdom, France, Germany, Spain, Russia |
| Key Companies Profiled | eBay; Amazon Marketplace; Depop; Vestiaire; Collective; Vinted; ASOS Marketplace; CeX; Back Market; Gumtree; Preloved; MusicMagpie; Feelunique; Lookfantastic; Decathlon; Pets at Home; Oxfam; Etsy; Farfetch Second Life |
The demand for secondhand goods in Europe is expected to reach a valuation of USD 71,903.2 million in 2024.
The sales of secondhand goods in Europe registered an HCAGR of 7.3% from 2019 to 2023.
Europe's secondhand goods industry is expected to expand at 8.2% CAGR from 2024 to 2034.
The demand for secondhand goods in Europe is estimated to reach USD 1,57,460.3 million by 2034.
The sales of secondhand goods in Europe were valued at USD 65,905.8 million in 2023.
| Market Value for 2024 | USD 43.49 billion |
|---|---|
| Projected Market Value for 2034 | USD 125.18 billion |
| CAGR (2024 to 2034) | 11.1% |
| Market Estimated Size (2023) | USD 6,327.7 million |
|---|---|
| Market Forecasted Size (2033) | USD 11,439.3 million |
| Market CAGR (2023 to 2033) | 6.10% |
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Demand and Trend Analysis of Secondhand Goods in Europe
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