#1
#1 out of 2
shopping14h ago
Deep Dive: Chinese consumers embrace luxury second-hand shopping
- ZZER began online and expanded to physical stores, signaling a shift from digital to brick‑and‑mortar retail in China’s resale sector.
- Industry leaders say authentication and logistics support growth, with platforms like Hongbulin integrating authenticators to build trust.
- China’s second-hand luxury market is projected to reach about US$30 billion in 2025, as the primary luxury market declines.
- Digital infrastructure and authentication tech are key in overcoming counterfeit fears that held back pre-owned luxury in China.
- Market growth is linked to a mature e-commerce ecosystem and a large supply of luxury goods from years of spending.
- Shoppers are turning to resale platforms as Beijing’s economy moves through post-pandemic recovery and real estate pressures.
- Escalating discounts in stores like ZZER offer up to 80% off retail, boosting appeal of second-hand luxury.
- The market remains a minority, representing around 5% of China’s total luxury sector, with potential for future growth.
- Experts emphasize continuing authentication improvements to overcome fakes and grow consumer confidence.
- Live streams and private viewings are used by platforms like ZZER to showcase inventory and engage buyers.
Vote 0