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Secondhand Fashion and Luxury Set to Reach Up to $360 Billion by 2030; Growing 3x Faster Than Firsthand Market
PARIS, Oct. 9, 2025 /PRNewswire/ — Boston Consulting Group (BCG) and Vestiaire Collective, the leading global platform for pre-loved luxury fashion, today announced a new collaboration with the release of their 2025 report titled: “Resale’s Next Chapter – How Fashion and Luxury Brands Can Win in the Secondhand Market.” Based on a survey of 7,800 Vestiaire Collective users, the report reveals that resale already accounts for 28% of their wardrobes—rising to 30% for clothing and 40% for handbags.
- Secondhand fashion and luxury is gaining ground fast, with the global resale market expected to hit up to $360 billion by 2030.
- Growing 10% annually, the secondhand market is expanding 3x faster than the firsthand market.
“Whether seeking desirable pre-loved fashion pieces at affordable prices or pursuing the thrill of the hunt for truly unique finds, resale is now firmly embedded in how people shop and build their wardrobes. Today, it’s a deliberate choice,” said Fanny Moizant, cofounder and president of Vestiaire Collective, and coauthor of the report.
“With resale now growing three times faster than firsthand fashion and luxury, the market has gone from experimental to essential,” said Felix Krueger, a BCG managing director and partner, and coauthor of the report. “Many brands now see it as a key channel for attracting new customers. With Gen Z and other resale-native consumers leading the shift, momentum is only growing.”
Why Consumers Buy & Sell Secondhand
Affordability remains a key motivator for consumers to shop secondhand fashion and luxury, with nearly 80% of respondents citing affordability as a top reason for buying. However, consumers are also drawn to resale for:
- Variety of Choice and Uniqueness: Around 55% of buyers strongly agree that the broad assortment and uniqueness of secondhand goods are major motivators.
- Thrill of the Hunt: Nearly 50% of buyers strongly agree that the search experience and interaction with sellers and buyers make resale enjoyable.
- Sustainability: Around 40% strongly agree that sustainability is a key reason for buying secondhand.
On the selling side, the two main motivations remain wardrobe detox (66%) and generating extra income—41% sell to earn money, 44% to fund future secondhand purchases, and 18% to afford new firsthand items.
Gen Z and the US Are Leading
Gen Z is at the forefront of resale adoption, with secondhand items making up to 32% of their wardrobes—rising to 45% for handbags globally, 66% in the US, and 39% in Europe. For eight in 10 Gen Z respondents, resale is a discovery channel for new brands, well above the 66% average.
The US also stands out for resale adoption, but the approach is more value-driven and transactional. Nearly nine in 10 US respondents (87%) cited affordability as a key reason to buy secondhand—11 points higher than in Europe. Americans are also nearly four times more likely to treat resale as a part- or full-time job.
What’s Next: Digital Product Passports
While strategic resale models have laid the groundwork for fashion and luxury’s future, the lack of interoperable data beyond the point of sale remains a hurdle.
Digital product passports (DPPs) are emerging as a key enabler. Consumers value DPPs, in particular, for authentication (70% when buying, 67% when selling) and detailed product specifications (68% when buying, 64% when selling).
However, awareness is low: 65% of respondents had never heard of DPPs, and an additional 15% recognized the term but didn’t know what it meant. This gap presents a clear first-mover opportunity for brands.
“Digital product passports go beyond ticking a compliance checkbox. They are becoming a strategic tool for building trust with customers,” said Catharina Martinez-Pardo, a BCG managing director and partner, and coauthor of the report. “They reduce friction for shoppers, ensure authenticity, and create new ways for brands to capture value throughout a product’s lifecycle.”
“From the very beginning, I envisioned the future of fashion to be circular, where every item could live many lives,” said Fanny Moizant, cofounder and president of Vestiaire Collective, and coauthor of the report. “At Vestiaire Collective, we enable brands to embrace circularity, designing fashion with a truly infinite lifecycle, giving customers seamless resale experiences and full transparency, and enabling them to turn wardrobes into dynamic, valuable assets.”
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Photo: https://mma.prnewswire.com/media/2791650/BCG_Vestiaire_Collective.jpg
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Contact:
Mathieu Boyer
mathieu.boyer@vestiairecollective.com
Eric Gregoire
BCG
gregoire.eric@bcg.com
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