A recent study from the Boston Consulting Group (BCG) says that a composite annual growth rate (CAGR) of 15 to 20 percent could see resale demand growth increase in the next half-decade. The researchers alone estimated a possible CAGR of 100% for the next half-decade in some geographically located online resale matches. BCG surveyed 7,000 consumers in six countries and particularly people who work on the online fashion resale site, called Vestiaire Collective. The goal was to investigate a fast gaining competitive market, which is situated on the bright side of Covid-19’s drastic shifts in customer behavior.
An embarrassed economy has been disastrous this year for the world market of luxury goods when all sources of discretionary investment have ceased. The positive news is that the demand for luxury hasn’t vanished – illustrated from the past. The industry has gained ground all over the world – between 30 billion dollars and 40 billion dollars. Against this context, the only path seems to be upward provided that resale constitutes only 2% of the world fashion industry.
