Secondhand luxury growing 5x quicker than new sales

Rob Clapp

An overview of global secondhand and new luxury goods sales between 2007 and 2021.

The secondhand luxury market grew more than five times quicker than new sales in 2021, according to data from consultancy Bain & Company.

Between 2017 and 2021, sales in the secondhand luxury goods market rose by 65% to equal €33bn. Over the same period, sales of new luxury goods rose by just 12%.

While the total market saw a 29% decline in 2020, the secondhand market continued to grow strongly when the pandemic first hit. This means more than one-tenth (11.7%) of luxury goods sales were secondhand in 2021.

This comes as luxury brands have to rethink their...

WARC subscribers can sign in to keep reading

Not a subscriber?

Schedule your live demo with our team today

WARC helps you to plan, create and deliver more effective marketing

  • Prove your case and back-up your idea

  • Get expert guidance on strategic challenges

  • Tackle current and emerging marketing themes

We’re long-term subscribers to WARC and it’s a tool we use extensively. We use it to source case studies and best practice for the purposes of internal training, as well as for putting persuasive cases to clients. In compiling a recent case for long-term, sustained investment in brand, we were able to support key marketing principles with numerous case studies sourced from WARC. It helped bring what could have been a relatively dry deck to life with recognisable brand successes from across a broad number of categories. It’s incredibly efficient to have such a wealth of insight in one place.

Insights Team
Bray Leino

You’re in good company

We work with 80% of Forbes' most valuable brands* and 80% of the world's top top-of-the-class agencies.

* Top 10 brands