According to a new study by the resale platform Vestiaire Collective and the Boston Consulting Group, second-hand fashion and vintage luxury products are expected to reach a market volume of up to 360 billion US dollars (around 309 billion euros) by 2030 – compared to the current 210 to 220 billion US dollars (around 180 to 190 billion euros). euros). This corresponds to an annual growth of 10 percent, a growth rate three times higher than the market for virgin goods. The second-hand market currently accounts for 8 percent of total fashion and luxury sales; a number that is expected to rise to 10 percent over the next five years.
The report, “The Next Chapter of Resale – How Fashion and Luxury Brands Can Succeed in the Secondhand Market,” is based on a survey of 7,800 Vestiaire Collective users worldwide, who reported an average fashion budget of $5,300 (around €4,550). They were interviewed between April and May 2025. While the results are not broken down by country, the report distinguishes between users in the US and Europe, where regulatory approaches are giving Secondhand an additional boost.
“Whether looking for coveted second-hand fashion pieces at affordable prices or the thrill of hunting for truly unique pieces, resale is now an integral part of people’s shopping habits and wardrobe design. Today it is a conscious choice,” comments Fanny Moizant, co-founder and president of Vestiaire Collective and editor of the report, in a statement.
Generation Z is driving the growth of the second-hand market
The survey showed that second-hand items already make up 28 percent of the wardrobe of young consumers in Europe; in the USA it is 32 percent. For clothing the proportion is as high as 30 percent and for handbags it is 39 percent and 66 percent respectively in the USA.
Generation Z loves the hunt and the thrill of finding limited or sold-out items (7 percentage points above average) and for the majority (80 percent) it is important to buy or discover a new brand through secondhand.
Why do consumers buy second-hand?
80 percent of respondents cited affordability as a primary motivation for buying secondhand (87 percent in the U.S.). The wide range and uniqueness of second-hand items were cited by more than half (55 percent) as purchasing reasons. Almost half confirmed that the search experience and interaction with sellers and other buyers had a positive influence on resale. Two fifths (40 percent) cited sustainability as a key motivation.
Two thirds (66 percent) of sellers cited clearing out their closet as their main motivation (particularly strong in countries like Germany and Italy at over 70 percent), followed by the desire to finance future second-hand purchases (44 percent), to earn money (41 percent) and to be able to afford new items first hand (18 percent).
This is exactly where the problem that resale platforms like Vestiaire Collective like to sweep under the carpet becomes apparent: buying second-hand stimulates additional consumption, be it to afford more second-hand items or to increase the budget for new goods through resale. The marketing of second-hand goods as sustainable per se is therefore questionable.
Future digital product passport
Digital product passports (DPPs) not only facilitate transparency in the production and sale of new goods, they are also supported by second-hand users: According to the report, 70 percent value authentication when purchasing and 67 percent when selling. Detailed product specifications help 68 percent of those surveyed when buying and 64 percent when selling.
The report admits that awareness of DPPs is (still) limited: almost two thirds (65 percent) of respondents had never heard of them, and 15 percent were familiar with the term but did not know what it means.
“Digital product passports go beyond ticking a compliance checkbox. They become a strategic tool for building customer trust. They reduce friction for buyers, ensure authenticity and offer brands new opportunities to capture value throughout a product’s life cycle,” explains Catharina Martinez-Pardo, Managing Director and Partner at BCG and co-author of the report.