It is projected that second-hand fashion and luxury will reach 360 billion dollars by 2030, representing a growth three times faster than the primary market. This figure is published by Boston Consulting Group (BCG) and Vestiaire Collective in their latest report, based on a survey of 7,800 Vestiaire Collective users. A reality that defines the future of the fashion industry and which, as always, has several facets.
And the report reveals that resale already accounts for 28% of users’ wardrobes, a figure that rises to 30% for clothing and 40% for bags. A rising trend—growing at 10% annually—that has been shaped by a business model in which many have found a quick and easy way to generate income.
Just take a look at Vinted or other second-hand selling platforms to see what is happening. Shein garments that claim to be vintage proposals. Pieces from Zara that have just gone on sale have gone viral and sell for five times their initial price. And even counterfeits used to fool people.
The negative side of a sector of the fashion world that is even more significant than the one for first-hand goods. This is confirmed by Fanny Moizant, cofounder and president of Vestiaire Collective, and coauthor of the report: «Both when seeking attractive second-hand fashion pieces at affordable prices and when enjoying the thrill of hunting for truly unique items, resale is firmly rooted in the purchasing and wardrobe-building process of people. Today, it is a deliberate choice».
«As resale has grown three times faster than first-hand fashion and luxury, the market has shifted from experimental to essential,» says Felix Krueger, CEO and partner at BCG, and co-author of the report. «Now many brands see it as one of the main channels to attract new customers. Thanks to Generation Z and other resale-native consumers leading this shift, growth is accelerating.»
In fact, even Zara, the brand most affected by resale, has included a system for selling second-hand garments. Zara Pre-owned is a section of the Spanish firm’s website where users can put products up for sale, as the brand says, «part of our commitment to the circular economy».
BCG and Vestiaire Collective.
Because what is clear is that resale has gained weight as a new source of income. According to Klarna, listings posted through its app have grown 75% in the last year and users earn an average of 117 euros per item sold. An extra that has led some to identify the most common consumer needs to anticipate a purchase and take advantage of stock shortages. How? By setting a much higher asking price.
This boom reflects a shift in consumer habits, especially among the younger, who are beginning to view their purchases as assets with long-term value. In fact, according to Klarna’s data, the most active group is users aged 26 to 35, accounting for 30% of all second-hand selling activity. It is a generation that has grown up understanding that managing money well is not limited to saving, but also to optimizing what you already own.
For today’s consumers, selling second-hand items is both a financial decision and a lifestyle choice. An eBay study notes that 81% of those who buy second-hand products do so primarily to save money. Klarna’s data suggests that this logic also works in reverse: selling is becoming a way to recover value from past purchases, not only to save on new ones.
