BCG report predicts $360 billion second-hand fashion market by 2030

With annual growth averaging 10%, the second-hand fashion and luxury goods market is expanding three times faster than the market for new items. According to a BCG report for Vestiaire Collective, it is projected to generate $360 billion by 2030, up from nearly $220 billion today. Among the platform’s users, pre-owned pieces now make up nearly one-third of their wardrobes.

The survey, conducted by BCG for Vestiaire Collective, draws on responses from 7,800 users across 70 countries. Price remains the leading motivation for 80% of respondents purchasing second-hand. Participants also cited a wide range of choices and the uniqueness of certain items (55%), the thrill of hunting for rare finds (50%), and environmental awareness (40%).

The report also examined the behavior of Vestiaire Collective’s sellers. In 66% of cases, sellers said they part with items to sort through their wardrobes and free up space. Respondents also mentioned earning money (41%), funding future purchases (44%), and, more specifically, buying new items (18%).

“Second-hand fashion has moved from an experiment to a market that can no longer be ignored,” said Felix Krueger, associate director at BCG and co-author of the report. “Many brands now see it as a key channel for attracting new customers. With Generation Z and other resale-native consumers at the forefront of this shift, the momentum is only intensifying.”

The study also highlights key differences between European and US markets. Among Generation Z, for whom second-hand items account for 32% of wardrobes, 45% of handbags are pre-owned. This figure rises to 66% in the US, compared with 37% in Europe.

US buyers are also more focused on value and the transactional aspect. A total of 87% cite affordability as a main reason for buying second-hand, compared with 76% of Vestiaire Collective’s European customers.

Founded in 2009, Vestiaire Collective is a leading resale platform for premium and luxury fashion. The company reported revenue exceeding €1 billion in 2024 and recently launched a dedicated menswear category.