Demand and Trend Analysis of Secondhand Goods in Europe

Demand Outlook of Secondhand Goods in Europe

The secondhand goods industry in Europe reached a valuation of US$ 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 US$ 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 US$ 1,57,460.3 million by 2034.

Attribute	Details
Demand Forecast for Secondhand Goods (2024)	US$ 71,903.2 million
Demand Analysis for Secondhand Goods in Europe (2034)	US$ 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.

Between 2019 and 2023 Europe Secondhand Goods Industry Outlook Compared to Projection Between 2024 and 2034

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.

Comparative View of Adjacent Europe Secondhand Goods Industry

The European secondhand goods sector is set to be impacted by the tangential market in the industry. These include the secondhand apparel market and secondhand bag market. As per analysis, the secondhand apparel industry is likely to record substantial growth in Europe with a CAGR of 14.8% through 2034.

Industry Analysis of Secondhand Goods in Europe:

Attributes	Industry Analysis of Secondhand Goods in Europe
CAGR between 2024 to 2034	8.2%
Key Trends	Increasing availability of secondhand goods in mainstream retail channels. The use of technology and innovation in secondhand goods is on the rise.
Key Challenge	Due to the possibility of hidden flaws, secondhand products do not come with warranties or guarantees.

Industry Analysis of Secondhand Apparel:

Attributes	Industry Analysis of Secondhand Apparel
CAGR between 2024 to 2034	14.8%
Key Trends	The key factors driving growth are the growing popularity of eco-fashion, increasing internet and online shopping platforms, and the cost-effective nature of secondhand clothes. The growing popularity of online stores, new product launches, rising fashion trends, easy accessibility on portals, etc., are the key trends in the secondhand apparel market.
Key Challenge	The abundance of low-cost, fast fashion choices can challenge the affordability appeal of secondhand apparel.

Industry Analysis of Secondhand Bag:

Attributes	Industry Analysis of Secondhand Bag
CAGR between 2024 to 2034	6.1%
Key Trends	The second-hand bag market is experiencing a surge due to the resurgence of vintage luxury bags. Redefining the second-hand bag market dynamics, millennials and Gen Z are big fans of second-hand shopping.
Key Challenge	Inadequate authenticity verification could put off buyers in the sale of secondhand bags.

Key Market Dynamics of Secondhand Goods in Europe

• 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.

Country-wise Insights

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%

Environmental Consciousness and Sustainability Play a Significant Role in the German Market

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.

Sustainable Consumption, Coupled with Technological Advancements in Online Platforms, Fuels the Market in France

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.

Italy's Fashion-conscious Population Shows Increasing Interest in Pre-owned Designer Clothing

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.

Category-wise Insights

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.

Apparel and Fashion is the Prominent Segment in the Market

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.

Online Market Places Has the Leading Growth Rate in The Market

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.

Competitive Landscape

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

• In 2023, The Amazon Buy with the Prime program, which enables retailers to integrate the company's payment and fulfillment services onto their website, is expanding.
• In 2022, eBay, an American e-commerce corporation, has teamed up with Advanced Garment Solutions (ACS). This company specializes in garment repair, sanitization, and resale to increase the online marketplace's selection of used items and contribute to waste reduction in the fashion sector.

Scope of the Report

Attribute	Details
Estimated Valuation (2024)	US$ 71,903.2 million
Projected Valuation (2034)	US$ 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 US$ 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

Key Segments

By Product Type:

• Apparel/fashion
  • Women’s
  • Men’s
  • Baby/Kids
• House, Garden, Do-It-Yourself
• Consumer Electronics
• Media and Entertainment
• Consumer Appliances
• Beauty and Health
• Toys
• Leisure, Sports and Fitness
• Pet Supplies

By Sales Channel:

• Thrift Stores/Resale Stores
• Online Market Places
• Consignment Shops
• Other Channels

By Country:

• The United Kingdom
• France
• Germany
• Spain
• Russia

Frequently Asked Questions

What Is the Current Market Value of Secondhand Goods in Europe?

The demand for secondhand goods in Europe is expected to reach a valuation of US$ 71,903.2 million in 2024.

At What HCAGR Did the Europe Secondhand Goods Sector Expand From 2019 To 2023?

The sales of secondhand goods in Europe registered an HCAGR of 7.3% from 2019 to 2023.

At What CAGR Will the Industry in Europe Develop from 2024 to 2034?

Europe's secondhand goods industry is expected to expand at 8.2% CAGR from 2024 to 2034.

What Is the Estimated Market Value of Secondhand Goods in Europe by 2034?

The demand for secondhand goods in Europe is estimated to reach US$ 1,57,460.3 million by 2034.

What Was the Valuation of Demand for Secondhand Goods in Europe in 2023?

The sales of secondhand goods in Europe were valued at US$ 65,905.8 million in 2023.