The Potential Of China'S Second Hand Luxury Market Is Accelerating.

The development of China's second hand luxury goods market is accelerating, with an average annual growth rate of 30% and a fast market development.

According to the customer research institute, the luxury goods available to the secondary market reached 1 trillion yuan, but the second-hand luxury transaction volume in 2019 was only 20 billion yuan. The market share of China's second hand luxury goods market is only 10%, which accounts for 40% of the world's market. There is a big difference between the primary market and the secondary market, but it can be seen that the potential of China's second hand luxury market is huge.

The second hand luxury market is a highly fragmented market. The main body of the market is located in the middle of wealth income in Pyramid. There is a clear and realistic luxury consumption demand. At the same time, it also pursues a certain performance price ratio, pursuing the cash flow of stock luxuries and upgrading the existing brand models.

It is reported that 75% of second-hand luxury goods seller is 30-50 years old group, 20% is wealth group, 5% is other groups. Second hand luxury buyer groups were distributed according to age: 40% after 80, 40% after 90, and after 20%95. The income of the group after 80 is relatively stable, but the family economic burden is heavy, the workplace needs to buy more luxury goods. After 90, the consumer groups pursue the aesthetic, fashion and taste, and have limited earning ability, and then become the second-hand consumption group. These two groups are the most active buyers of second hand luxury goods.

In addition, the secondary luxury online has the advantage of dispersing the market and regulating the supply of goods. Online growth is better than offline. Currently, the online penetration rate of China's second hand luxury goods market has reached 50%, much higher than the 17% penetration rate in the primary market. The 30000 yuan unit price is the watershed. Under 30000 yuan can be synchronized online and offline, and more than 30000 yuan can only be sold through offline channels with stronger sense of experience.

At present, the second-hand luxury goods industry is still widespread in terms of the difficulty of large-scale supply organization, the problem of counterfeit goods flooding, the lack of key talents, and the long cycle of personnel training, and the lack of specific identification criteria for the industry at the national level and industry level.

However, people's consumption concept gradually improves the acceptance and tolerance of the second hand, so long as the offline layout, online development, dual line diversion, common development, value creation by service, and guided consumption, the future luxury goods industry will further develop rapidly and further.