Understanding the Luxury Resale Market in Korea

In 2023, about $49.3 billion (€45 billion) worth of secondhand luxury products were sold worldwide, according to management consultancy Bain & Company.

The strength of the secondhand luxury market globally meets the needs of a range of consumer behaviour and expenditure: unstable economic markets have seen many exercise restraint around discretionary spending on first-hand, full price items, while those with sustained spending power can…