It’s Not Just Sustainability That’s Driving The Second-hand Luxury Market

When it comes to fashion, in recent years, there has been a sharp shift in consumer habits towards sustainability, with many rejecting fast fashion in preference for new high-end, more bespoke pieces, or alternative second-hand items instead. Thus, while the (fast) fashion industry is currently looking to improve its sustainability practices in relation to new products, consumers are making it clear that vintage items are often perhaps even more desirable.

This trend can especially be found in the second-hand luxury market, with second-hand luxury retailers like Luxury Trade – which specialises in the sale of authenticated vintage luxury handbags, watches, and other accessories – noting that Millennial and Gen Z consumers are actively budgeting for top-brand preowned items. But while sustainability may be one of the factors feeding into consumer trends for second-hand fashion, it’s sometimes more of a happy by-product than consumers’ primary goal.

One of the greater driving forces for why Millennials and Gen Zs are growing the second-hand luxury market is related to affordability. High-end products are known for being better quality and are seen as a generally better investment, but the price-points for new luxury items are simply out of reach for the average young adult struggling in a tough economy. The second-hand luxury market, therefore, offers these younger cohorts access to quality items that are more budget-friendly. And since good quality items last longer, their second-hand options are also naturally more sustainable.

Another factor driving the market is a desire for uniqueness. Both younger generations seem to prefer personal expression over following dictated seasonal trends. By finding limited-edition second-hand fashion items, consumers are able to create far more individualised aesthetics than they could by purchasing new current trends.

Regardless of what’s motivating consumers, the second-hand market is set to see continued exponential growth for the foreseeable future.

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