GCC Secondhand Luxury Goods Market Overview:
The GCC secondhand luxury goods market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Secondhand luxury goods are high-end premium items that are previously owned and used. They include apparel, footwear, and fashion accessories, such as bags, watches, and jewelry. Their prices are lower than the original goods and they assist in increasing self-esteem and providing a sense of self-accomplishment. At present, key players operating in the GCC region are focusing on promoting the resale of luxury items by investing in various marketing strategies, such as social media promotion and celebrity endorsements.
At present, the increasing penetration of western trends represents one of the key factors positively influencing the market. In addition, the rising standards of living and inflating disposable incomes of individuals are creating a positive market outlook. Moreover, the latest technologies, such as blockchain, artificial intelligence (AI), and data analytics, are used to detect fake goods. For instance, blockchain applications help achieve the highest quality of transparency and traceability of the product. It assists resellers and consumers in comparing product identification (ID) with the client ID to provide access to the complete product history, thereby gaining customer trust. Apart from this, celebrities endorsing pre-owned luxury items are diminishing the stigma regarding the use of pre-owned goods, which is offering lucrative opportunities to leading players operating in the GCC region. Furthermore, the proliferation of corporate entities and the prevailing trend of home interior decoration with expensive and luxury products among consumers is bolstering the market growth. The rising traction of limited capsule collections and fashion drops is also creating scarcity for luxury items, which, in turn, is positively influencing the sales of secondhand luxury goods in the region. Other factors, such as the easy availability of secondhand luxury goods across e-commerce websites, independent retailers, and specialty stores, and increasing penetration of mobile applications to resell goods online, are strengthening the growth of the market.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC secondhand luxury goods market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC secondhand luxury goods market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC secondhand luxury goods market in detail for latest trends, outlook and opportunities.
The report analyses the competitive structure of the GCC secondhand luxury goods market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC secondhand luxury goods market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC secondhand luxury goods market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC secondhand luxury goods market industry. Furthermore, the value chain analysis of the GCC secondhand luxury goods market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
GCC Secondhand Luxury Goods Market Segment Insights:
The GCC secondhand luxury goods market has been analysed as followed:
By Product Type:
By Demography:
By Distribution Channel:
By Country:
Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.
Competative Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Highlights of the GCC Secondhand Luxury Goods Market Report:
Report Customisation:
The GCC secondhand luxury goods market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 GCC Secondhand Luxury Goods Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Handbags
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Jewelry & Watches
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Clothing
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Small Leather Goods
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Footwear
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Accessories
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Others
6.7.1 Market Trends
6.7.2 Market Forecast
7 Market Breakup by Demography
7.1 Women
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Men
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Unisex
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Distribution Channel
8.1 Offline
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Online
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Country
9.1 Saudi Arabia
9.1.1 Market Trends
9.1.2 Market Breakup by Product Type
9.1.3 Market Breakup by Demography
9.1.4 Market Breakup by Distribution Channel
9.1.5 Market Forecast
9.2 UAE
9.2.1 Market Trends
9.2.2 Market Breakup by Product Type
9.2.3 Market Breakup by Demography
9.2.4 Market Breakup by Distribution Channel
9.2.5 Market Forecast
9.3 Qatar
9.3.1 Market Trends
9.3.2 Market Breakup by Product Type
9.3.3 Market Breakup by Demography
9.3.4 Market Breakup by Distribution Channel
9.3.5 Market Forecast
9.4 Oman
9.4.1 Market Trends
9.4.2 Market Breakup by Product Type
9.4.3 Market Breakup by Demography
9.4.4 Market Breakup by Distribution Channel
9.4.5 Market Forecast
9.5 Kuwait
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Bahrain
9.6.1 Market Trends
9.6.2 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Policy and Regulatory Landscape
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
List of Figures
Figure 1: GCC: Secondhand Luxury Goods Market: Major Drivers and Challenges
Figure 2: GCC: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2017-2022
Figure 3: GCC: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 4: GCC: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2022
Figure 5: GCC: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2022
Figure 6: GCC: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2022
Figure 7: GCC: Secondhand Luxury Goods Market: Breakup by Country (in %), 2021
Figure 8: GCC: Secondhand Luxury Goods (Handbags) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: GCC: Secondhand Luxury Goods (Handbags) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: GCC: Secondhand Luxury Goods (Jewelry & Watches) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: GCC: Secondhand Luxury Goods (Jewelry & Watches) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: GCC: Secondhand Luxury Goods (Clothing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: GCC: Secondhand Luxury Goods (Clothing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: GCC: Secondhand Luxury Goods (Small Leather Goods) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: GCC: Secondhand Luxury Goods (Small Leather Goods) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: GCC: Secondhand Luxury Goods (Footwear) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: GCC: Secondhand Luxury Goods (Footwear) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: GCC: Secondhand Luxury Goods (Accessories) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: GCC: Secondhand Luxury Goods (Accessories) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: GCC: Secondhand Luxury Goods (Other Product Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: GCC: Secondhand Luxury Goods (Other Product Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: GCC: Secondhand Luxury Goods (Women) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: GCC: Secondhand Luxury Goods (Women) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: GCC: Secondhand Luxury Goods (Men) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: GCC: Secondhand Luxury Goods (Men) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: GCC: Secondhand Luxury Goods (Unisex) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: GCC: Secondhand Luxury Goods (Unisex) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: GCC: Secondhand Luxury Goods (Offline) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: GCC: Secondhand Luxury Goods (Offline) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: GCC: Secondhand Luxury Goods (Online) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: GCC: Secondhand Luxury Goods (Online) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Saudi Arabia: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Saudi Arabia: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2022
Figure 34: Saudi Arabia: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2022
Figure 35: Saudi Arabia: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2022
Figure 36: Saudi Arabia: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: UAE: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: UAE: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2022
Figure 39: UAE: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2022
Figure 40: UAE: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2022
Figure 41: UAE: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Qatar: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Qatar: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2022
Figure 44: Qatar: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2022
Figure 45: Qatar: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2022
Figure 46: Qatar: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Oman: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Oman: Secondhand Luxury Goods Market: Breakup by Product Type (in %), 2022
Figure 49: Oman: Secondhand Luxury Goods Market: Breakup by Demography (in %), 2022
Figure 50: Oman: Secondhand Luxury Goods Market: Breakup by Distribution Channel (in %), 2022
Figure 51: Oman: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Kuwait: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Kuwait: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Bahrain: Secondhand Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Bahrain: Secondhand Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: GCC: Secondhand Luxury Goods Industry: SWOT Analysis
Figure 57: GCC: Secondhand Luxury Goods Industry: Value Chain Analysis
Figure 58: GCC: Secondhand Luxury Goods Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: GCC: Secondhand Luxury Goods Market: Key Industry Highlights, 2022 and 2028
Table 2: GCC: Secondhand Luxury Goods Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 3: GCC: Secondhand Luxury Goods Market Forecast: Breakup by Demography (in Million US$), 2023-2028
Table 4: GCC: Secondhand Luxury Goods Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 5: GCC: Secondhand Luxury Goods Market Forecast: Breakup by Country (in Million US$), 2023-2028
Table 6: GCC: Secondhand Luxury Goods Market: Competitive Structure
Table 7: GCC: Secondhand Luxury Goods Market: Key Players
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