According to a survey among Chinese luxury shoppers in October 2021, most of China's high luxury spenders (who spent at least 40 thousand yuan a year on luxury items) of all ages chose to buy second-hand luxury items for their unique designs. A quarter of Gen-Z consumers said they buy vintage or used luxury goods because they appreciate the item's history.
Leading reasons for buying second-hand or vintage luxury products among high luxury spenders in China as of October 2021, by generation
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Other statistics that may interest you Second-hand consumer goods market in China
Market overview
5
- Premium Statistic Market size of used item sales in China 2017-2022
- Premium Statistic Number of used items resold in China 2017-2022
- Premium Statistic Second hand purchasers in China 2023
- Premium Statistic Sales value of used items in China 2015-2020, by category
- Premium Statistic Breakdown of used item sales in China 2020, by category
Re-commerce
6
- Premium Statistic Transaction value of second-hand e-commerce in China 2015-2022
- Premium Statistic YoY transaction value growth rate of second hand e-commerce in China 2016-2022
- Premium Statistic Number of re-commerce users in China 2014-2022
- Premium Statistic Penetration rate of re-commerce service in China 2014-2022
- Premium Statistic Number of active users of leading re-commerce platforms in China 2022
- Premium Statistic Major items sold on re-commerce platforms in China 2021
Second-hand luxury goods
6
- Premium Statistic Breakdown of used luxury goods sales in China 2021, by category
- Premium Statistic Leading channels for buying used luxury items in China 2021
- Premium Statistic Breakdown of used luxury goods buyers in China 2017-2021, by gender
- Premium Statistic Breakdown of used luxury goods buyers in China 2021, by age
- Premium Statistic Most purchased used luxury goods among rich people in China 2021, by type
- Premium Statistic Major reasons for purchasing used or vintage luxury items China 2021, by age
Second-hand consumer electronics
4
- Premium Statistic Trade value of used consumer electronics in China 2015-2025, by category
- Premium Statistic Trade volume of used consumer electronics in China 2015-2025, by category
- Premium Statistic Breakdown of used smartphone sales in China Q4 2021, by brand
- Premium Statistic Breakdown of used consumer electronics recycle app ATRenew users 2021, by age
Consumer perspective
5
- Premium Statistic Ways to deal with idle items at home in China in 2022
- Premium Statistic Likelihood to trade used items in China 2021, by channel
- Premium Statistic Most used services of second-hand e-commerce in China 2021
- Premium Statistic Leading reasons for using re-commerce platforms to buy things in China 2021
- Premium Statistic Leading reasons for using re-commerce platforms to sell things in China 2021
Further Content: You might find this interesting as well
Oliver Wyman. (November 10, 2021). Leading reasons for buying second-hand or vintage luxury products among high luxury spenders in China as of October 2021, by generation [Graph]. In Statista. Retrieved March 28, 2024, from https://www.statista.com/statistics/1284251/china-reasons-for-buying-second-hand-or-vintage-luxury-goods-by-age/
Oliver Wyman. "Leading reasons for buying second-hand or vintage luxury products among high luxury spenders in China as of October 2021, by generation." Chart. November 10, 2021. Statista. Accessed March 28, 2024. https://www.statista.com/statistics/1284251/china-reasons-for-buying-second-hand-or-vintage-luxury-goods-by-age/
Oliver Wyman. (2021). Leading reasons for buying second-hand or vintage luxury products among high luxury spenders in China as of October 2021, by generation. Statista. Statista Inc.. Accessed: March 28, 2024. https://www.statista.com/statistics/1284251/china-reasons-for-buying-second-hand-or-vintage-luxury-goods-by-age/
Oliver Wyman. "Leading Reasons for Buying Second-hand or Vintage Luxury Products among High Luxury Spenders in China as of October 2021, by Generation." Statista, Statista Inc., 10 Nov 2021, https://www.statista.com/statistics/1284251/china-reasons-for-buying-second-hand-or-vintage-luxury-goods-by-age/
Oliver Wyman, Leading reasons for buying second-hand or vintage luxury products among high luxury spenders in China as of October 2021, by generation Statista, https://www.statista.com/statistics/1284251/china-reasons-for-buying-second-hand-or-vintage-luxury-goods-by-age/ (last visited March 28, 2024)
Leading reasons for buying second-hand or vintage luxury products among high luxury spenders in China as of October 2021, by generation [Graph], Oliver Wyman, November 10, 2021. [Online]. Available: https://www.statista.com/statistics/1284251/china-reasons-for-buying-second-hand-or-vintage-luxury-goods-by-age/