Chinese customers have historically been perceived as immune to used items. However, that is not the case, particularly amongst youthful generations who’re turning to secondhand luxurious for a lot of causes, from worth alone to a want to determine a private model that pulls from completely different eras and designers, to a rising ardour for sustainability and limiting their carbon footprints.
Meanwhile, as increasingly more customers discover their wardrobes bursting with undesirable luxurious attire and equipment — the results of an prolonged international buying spree over the previous decade — China is now each a number one marketplace for new luxurious items and a supply of huge portions of pre-owned gadgets — placing it in a singular place to grow to be a significant pressure in luxurious resale.
The rising spending energy and market affect of younger, digitally native consumers has powered a pointy enhance within the variety of on-line platforms sourcing and promoting secondhand luxurious gadgets. But challenges stay, from constant and clear product authentication to client resistance and fierce competitors from each Chinese and worldwide platforms.
In the newest version of the Jing Daily market report collection, we delve into the event of the posh resale market in China, and switch to the alternatives and the dangers for manufacturers and worldwide e-commerce platforms, charting the place the highway forward could lead within the years to return.
Leveraging China’s Online Luxury Resale Boom addresses lots of the key considerations of luxurious manufacturers, retailers, and e-commerce platforms when contemplating resale, corresponding to:
- The high motivators for Chinese customers to buy secondhand luxurious items over new gadgets.
- Why long-standing attitudes in direction of pre-owned items are altering.
- How mainland China’s luxurious resale market differs from these of Japan, South Korea, and Hong Kong.
- The main home gamers in China’s burgeoning secondhand luxurious market, and the methods they use to aggressively search market share.
- The dangers for worldwide luxurious resale platforms in China and the aggressive benefits they’ve over native rivals.
Available for buy on the Jing Daily Reports web page, Leveraging China’s Online Luxury Resale Boom is an indispensable useful resource for any luxurious model or retailer excited by China’s fast-growing secondhand luxurious market.