Vestiaire Collective report: Second-hand market grows three times faster than new goods

According to a new study by the resale platform Vestiaire Collective and the Boston Consulting Group (BCG), second-hand fashion and vintage luxury products are projected to reach a market volume of up to 360 billion dollars by 2030, compared to the current 210 to 220 billion dollars. This represents an annual growth of 10 percent, a rate three times higher than that of the new goods market. The second-hand market currently accounts for 8 percent of total fashion and luxury sales. This figure is expected to rise to 10 percent over the next five years.