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Second-hand luxury handbags from a shopping portal
Photo: Giulia Marchi/Bloomberg/Getty Images
According to a study, interest in second-hand clothing is increasing rapidly.
The Boston Consulting Group (BCG) estimates that the worldwide market for used textiles, shoes and accessories has now reached sales of up to 120 billion dollars.
That's three times as much as two years ago and by no means the end: the market will grow by up to 30 percent annually, experts estimate.
In general, the demand has long been higher than the supply.
Second-hand customers are not occasional buyers, on average they fill about a quarter of their wardrobe with used items.
According to a BCG survey of around 2,000 consumers, sustainability is not the main motivation, but the lower prices.
In particular, luxury labels such as Chanel, Burberry, Prada or Louis Vuitton are only becoming affordable for many customers in this way.
With the likelihood of an economic downturn, "consumers are more likely to orient themselves towards inexpensive things and, on top of that, will probably increasingly see their own closet as an additional source of income," write the BCG study authors.
The online boom is giving secondary trade in clothing a strong boost, as is the desire for more sustainability.
Around 40 percent of those surveyed also cited the fact that they were more sustainable as a reason for shopping for second-hand goods.
The majority of private sellers of second-hand fashion stated that they wanted to free up space in the closet and to convert the value of their clothes.
Of those who do not place clothing on the secondary market, 30 percent each said they did not have the time or would rather give their stuff to friends or non-profit organizations.
