Vestiaire Collective report: Second-hand market grows three times faster than new goods

According to a new study by the resale platform Vestiaire Collective and the Boston Consulting Group (BCG), second-hand fashion and vintage luxury products are projected to reach a market volume of up to 360 billion dollars by 2030, compared to the current 210 to 220 billion dollars. This represents an annual growth of 10 percent, a rate three times higher than that of the new goods market. The second-hand market currently accounts for 8 percent of total fashion and luxury sales. This figure is expected to rise to 10 percent over the next five years.

The report, “The Next Chapter in Resale - How Fashion and Luxury Brands Can Succeed in the Second-Hand Market”, is based on a global survey of 7,800 Vestiaire Collective users who reported an average fashion budget of 5,300 dollars. They were surveyed between April and May 2025. While the results are not broken down by individual countries, the report distinguishes between users in the US and Europe, where regulatory approaches are giving an additional boost to the second-hand market.

“Whether searching for coveted second-hand fashion pieces at affordable prices or the thrill of hunting for truly unique items, resale is now an integral part of people's shopping behaviour and wardrobe curation. Today, it is a conscious choice,” commented Fanny Moizant, co-founder and president of Vestiaire Collective and editor of the report, in a statement.

Generation Z fuels growth of second-hand market

The survey showed that second-hand items already make up 28 percent of young consumers' wardrobes in Europe; in the US, this figure is 32 percent. For clothing, the share is as high as 30 percent, and for handbags, it is 39 percent and 66 percent in the US, respectively.

Gen Z loves the hunt and the thrill of finding limited or sold-out items (7 percentage points above average). For the majority (80 percent), it is important to buy or discover a new brand through second-hand.

Why consumers buy second-hand

80 percent of respondents cited affordability as a primary reason for buying second-hand (87 percent in the US). The wide range and uniqueness of second-hand items were cited as purchasing motives by more than half (55 percent). Nearly half confirmed that the search experience and interaction with sellers and other buyers positively influence resale. Two-fifths (40 percent) cited sustainability as a key motivation.

Two-thirds (66 percent) of sellers cited decluttering their wardrobe as the main reason (particularly strong in countries like Germany and Italy at over 70 percent), followed by the desire to finance future second-hand purchases (44 percent); earn money (41 percent); and afford new, first-hand items (18 percent).

This highlights the issue that resale platforms like Vestiaire Collective often sweep under the rug: second-hand purchasing fuels additional consumption, whether to afford more second-hand items or to supplement the budget for new goods through resale. Therefore, marketing second-hand as inherently sustainable is questionable.

Future of digital product passport

Digital Product Passports (DPPs) not only facilitate transparency in the manufacturing and sale of new goods, but they are also endorsed by second-hand users. According to the report, 70 percent value authentication when buying, and 67 percent when selling. Detailed product specifications help 68 percent of respondents when buying and 64 percent when selling.

The report acknowledges that awareness of DPPs is (still) limited. Nearly two-thirds (65 percent) of respondents had never heard of them, and 15 percent knew the term but did not know what it meant.

“Digital Product Passports go beyond ticking a compliance checkbox. They are becoming a strategic tool for building customer trust. They reduce friction for buyers, ensure authenticity and offer brands new opportunities to capture value throughout a product's entire lifecycle,” explained Catharina Martinez-Pardo, managing director and partner at BCG and co-author of the report.

This article was translated to English using an AI tool.

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