Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Summary
The global Second Hand Apparel Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
The market for second-hand apparel is huge in the UK, which is good news for everybody involved, because there is a huge demand for it. When they launch a new range though, it can take a while before they get to sell all of their products, which is why it is so important to follow the latest fashion trends. That is why they do all of their research before creating any new lines, and so they are able to make as many changes as needed to ensure that they create a product that is in style. The main product lines include: T Shirt Shirts, pre-owned fashion clothing, evening wear, casual wear and swimwear. It is safe to say that the market for posh-mark remains huge and with them on board, things are definitely going to get better for everyone involved.
Market Dynamics
Increasing number of secondhand stores is expected to propel growth of the secondhand apparel market over the forecast period. For instance, in June 2021, Tara’s Closet, a secondhand store, announced to start at Menomonee Falls, Wisconsin, U.S. The apparel boutique offers brands such as J. Jill, Coldwater Creek, Chicos, Levi’s, Lularoe, and other department store brands.
Significant growth in e-commerce sector is expected to offer lucrative growth opportunities for players in the secondhand apparel market. For instance, according to India Brand Equity Foundation, the e-commerce sector in India is expected to reach US$ 200 billion by 2026 from US$ 38.5 billion as of 2017.
The secondhand apparel market is witnessing several M&A activities. For instance, in June 2021, Etsy, an online marketplace, announced to buy Depop, the British secondhand fashion resale app, for US$ 1.6 billion to tap into the fast-growing trend of generation Z young people reselling clothes online.
Key Takeaways
- Increasing number of secondhand stores is expected to propel growth of the secondhand apparel market over the forecast period
- Major players operating in the second hand apparel market are focused on regional expansion. For instance, in May 2021, Vinted, a Lithuanian online marketplace and community dedicated to second-hand fashion, entered the market in Canada. Consumers from Vancouver to Montreal will now be able to conveniently and easily trade their pre-loved clothes and accessories with each other.
- Major players operating in the second hand apparel market include, ThredUP, Poshmark, The RealReal, Tradesy, Buffalo Exchange, eBay, Vinted, Mercari, and Alibaba Group
The Second Hand Apparel Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Second Hand Apparel Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- ThredUP
- Poshmark
- The RealReal
- Tradesy
- Buffalo Exchange
- eBay
- Mercari
- Alibaba Group
By the Product Type, the market is primarily segmented into:
- Luxury Brand
- Fast-selling Brand
- Others
By Applications, the market is segmented into:
- split into
- Mens Clothes
- Womens Clothes
- Kids Clothes
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Second Hand Apparel Market Report:
- To assess the size of the market by value and volume
- Analyze the Second Hand Apparel Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Second Hand Apparel Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Second Hand Apparel Market
The Second Hand Apparel Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Second Hand Apparel Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
