A millennials love affair: China's second-hand luxury goods market booms | Malay Mail

📆 16.10.2020 19:13:00
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BEIJING, Oct 16 ― China's love for luxury is spilling over into the once shunned second-hand goods sector, with online stores surfing a wave of pent-up demand from shoppers, led by millennials, who have been forced into belt-tightening by the coronavirus pandemic. The rapid proliferation over...

Friday, 16 Oct 2020 05:18 PM MYT

The rapid proliferation over recent years of second-hand luxury sales online platforms have helped fuel an expansion of the market, similar to those of US online luxury reseller The RealReal Inc or Europe's Vestiaire Collective. “Compared to completely new products, second-hand products are more economical for them,” Xu said. Sales growth at Plum have averaged over 25 per cent month-on-month in the first half.

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