Second Hand Footwear Market Scope
Footwear is worn to protect the foot against rough surfaces, extreme temperatures, and gravel roads. Leather, plastic, rubber, and cloth are some of the materials used in footwear. Leather is one of the most common materials used in the manufacture of footwear. Second-hand footwear is selling things that have already been owned or used. Second-hand goods are sold at usually 30%-80% less as compared to the retail price of new luxury goods. Furthermore, an increasing number of resale shoppers has been driving the market. Several E-commerce websites have led to the growth of these products. Rising consumer living standards, aided by rising disposable income levels, have strengthened the market for secondhand products in both established and emerging nations, with millennials and the urbanized population preferring high-end fashion accessories at lower rates.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Craigslist (United States), Ebay (United States), OLX Group (Netherlands), Quikr (India), Fashionphile (United States), Avito (Russia), Carousell (Singapore), style tribute (Singapore), Retrogate (United States) and Tradesy (United States) |
CAGR | % |
Companies operating in secondhand apparel market are aiming at strategic collaborations and various marketing strategies to expand their business and attract a large customer base. Research Analyst at AMA estimates that Asia Pacific Vendors will contribute to the maximum growth of Global Second Hand Footwear market throughout the predicted period.
Craigslist (United States), Ebay (United States), OLX Group (Netherlands), Quikr (India), Fashionphile (United States), Avito (Russia), Carousell (Singapore), style tribute (Singapore), Retrogate (United States) and Tradesy (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Nike Incorporation (United States), Adidas AG (United States) and PUMA(Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Second Hand Footwear market by Type , by Application (Experimentation and Variety and Reduced Wear and Tear) and Region with country level break-up.
On the basis of geography, the market of Second Hand Footwear has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In January 2022, Zulily launched the best time to Shop report as a roadmap to maximize savings for savvy moms. In the current times, when there are challenges in supply chain management, shopping to find the best selection of items is not an easy task. It is only to make the task simpler that Zulily had launched the report.
In 2022, H&M launched a new second-hand apparel offer in Sweden in its domestic market which will include second-hand garments from H&M Group brands as well as third-party names such as ASOS, Nike, and Zara.
Influencing Trend:
The online market for second-hand goods, including footwear, had expanded significantly.
Market Growth Drivers:
Changing lifestyles of People and Rising number of sports inspired children
Challenges:
Lack in Number of Offline Stores
Restraints:
Uncertain Quality of Products
Opportunities:
Growing Acceptance of Second Hand Products Among Youth and Efficient E- Commerce Sales Channels
Key Target Audience
Second Hand Footwear Providers, Raw Material Providers, End-Users and Others