Secondhand luxury growing 5x quicker than new sales | WARC | The Feed

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

Why it matters

This comes as luxury brands have to rethink their strategy post-pandemic with a focus on emerging trends that are important to consumers, like sustainability. The secondhand market, which is often more environmentally friendly, now accounts for 12% of all luxury goods sales.

Takeaways