1、Tal eA New Frontier:The luxury second-hand market in ChinaA deep dive report into luxury handbags second-hand development in Chinese digital ecosystemDecember 2021IntroductionSince the start of COVID-19 pandemic,China has been a bastion of safety for luxury brands who already had a foot hold in the

2、region.Many brands have shown losses in many other geographies in the world while China still stays on course to become the biggest luxury market in the world by 2025.With this maturation of the market,we have also seen the development of luxury second-hand sales.Spurred by consumer trends,the secon

3、d-hand market is booming.However,it is starting from a small base and is yet to reach the penetrations of countries such as Japan and the US.In this series of reports,we will look at the development of digital second-hand sales of selected luxury bags,understanding which platforms are attracting the

4、 most listings,and what products are on offer.1Japan28%USA31%China luxury resale represents$2.7b estimated 5%of total market11%20%-23%ChinaChinaGlobal Luxury Market 2019Global Luxury Market 20202025China Projected to be the largest luxury market in the world by 20255%Drivers of Change1.Gen Z1.Gen ZG

5、eneration Z in China are hard to anticipate,and constantly on the move.Having access to years of potential collections through second-hand fits well into their ability to navigate and conquer fashionxxx2Source:Re-Hub proprietary data analysisInvisible LuxuryInvisible LuxuryLowering the Lowering the

6、BarrierBarrierConsumer to Consumer to CollectorCollector2.Consumer to collector2.Consumer to collectorWith many consumers already owning entry level products of several brands,second-hand offers them a chance to get closer to their favorite brands history and become a collector3.Lowering the Barrier