The Global Re-Commerce Market report provides a detailed analysis of the market's current state, key players, emerging trends, and future growth prospects. The report is divided into several sections, each focusing on different aspects of the market, such as market size, geographical shares, competitive landscape, and market dynamics.
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Understanding Re-Commerce Market Dynamics
Re-Commerce Market Overview: -
The Global Re-Commerce Market is estimated to grow at a CAGR of around 19.22% during the forecast period, i.e., 2023-28. From 2018 to 2022, the Re-Commerce market has showcased substantial expansion, owing to the heightened awareness and prioritization of sustainability concerns among consumers, particularly those belonging to Generation Z and Millennials. A survey conducted by the Baker Retailing Center, in, 2021, at the Wharton School of the University of Pennsylvania found that 55% of Gen Z respondents indicated a preference for purchasing products from sustainable brands. This strong dedication to environmental causes has propelled Re-Commerce as a preferred choice for sustainable consumption.
Regional Analysis:
- North America
- Europe
- Asia Pacific
- Middle East/Africa
- South America
Among them, the Europe experienced considerable growth in the Global Re-Commerce Market.
Competitor Breakdown| Top Re-Commerce Companies
- Thredup Inc.
- ReFlaunt
- Archive
- Rush Re-Commerce
- Rebag
- Poshmark
- Ebay Inc.
- Craiglist
- Rebelle
- LePrix
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Re-Commerce Market - Segmentation Highlights:
By Type
- Peer-to-Peer Marketplaces- Market Size & Forecast 2018-2028, (USD Million)
- Resale Marketplaces- Market Size & Forecast 2018-2028, (USD Million)
- Refurbished Goods Marketplaces- Market Size & Forecast 2018-2028, (USD Million)
By Product
- Electronics - Market Size & Forecast 2018-2028, (USD Million)
- Smartphones & Tablets - Market Size & Forecast 2018-2028, (USD Million)
- Laptops & Computers - Market Size & Forecast 2018-2028, (USD Million)
- Cameras and Photography Equipment - Market Size & Forecast 2018-2028, (USD Million)
- Home Appliances (Refurbished Refrigerators, Washing Machines, etc.)- Market Size & Forecast 2018-2028, (USD Million)
- Others (Networking Equipment, Gaming Consoles and Accessories, etc.) - Market Size & Forecast 2018-2028, (USD Million)
- Fashion & Apparel - Market Size & Forecast 2018-2028, (USD Million)
- Clothing - Market Size & Forecast 2018-2028, (USD Million)
- Footwear - Market Size & Forecast 2018-2028, (USD Million)
- Accessories (Jewelry, Watches, Handbags, etc.) - Market Size & Forecast 2018-2028, (USD Million)
- Furniture and Home Goods- Market Size & Forecast 2018-2028, (USD Million)
- Sofas and Couches - Market Size & Forecast 2018-2028, (USD Million)
- Tables & Chairs - Market Size & Forecast 2018-2028, (USD Million)
- Home Decor (Rugs, Paintings, Vases, etc.) - Market Size & Forecast 2018-2028, (USD Million)
- Others (Garden Equipment, Bathroom Accessories, etc.) - Market Size & Forecast 2018-2028, (USD Million)
- Automotive- Market Size & Forecast 2018-2028, (USD Million)
- Used Vehicles- Market Size & Forecast 2018-2028, (USD Million)
- Vehicle Parts and Accessories- Market Size & Forecast 2018-2028, (USD Million)
- Sports and Fitness Equipment- Market Size & Forecast 2018-2028, (USD Million)
- Others (Toys, Collectibles, Books, etc.)- Market Size & Forecast 2018-2028, (USD Million)
By Product Category
- Non-Luxury- Market Size & Forecast 2018-2028, (USD Million)
- Luxury- Market Size & Forecast 2018-2028, (USD Million)
By Age Group
- Up to 18 Years- Market Size & Forecast 2018-2028, (USD Million)
- 19-25 Years- Market Size & Forecast 2018-2028, (USD Million)
- 26-40 Years- Market Size & Forecast 2018-2028, (USD Million)
- 41-55 Years- Market Size & Forecast 2018-2028, (USD Million)
- Above 56 Years- Market Size & Forecast 2018-2028, (USD Million)
Re-Commerce Market Dynamics:
Key Factor Driving Market–
Surging Demand for Refurbished Smartphones to Augment the Market Growth – The demand for premium smartphones has showcased a substantial growth rate driven by the dual forces of affordability and value retention. Premium phones from companies like Apple, Samsung, etc., often come with high price tags, which limits their accessibility to a select market segment. Owing to this, consumers across the globe, especially, in Europe, India, etc., are registering substantial demand for refurbished smartphones.
With e-commerce platforms being the major forum for the sale of these refurbished phones, purchase via this medium has substantially increased, which is subsequently enhancing the market size. The surge in demand is fuelled by the affordability of refurbished premium smartphones, which provide consumers with an opportunity to experience top-tier features and performance at a significantly lower cost and would further continue to enhance the market growth during the forecast period.
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Frequently Asking Questions (FAQ’s):
- Which companies lead the Re-Commerce Market?
- How will current trends shape the market in the coming years?
- What opportunities, challenges, and driving forces characterize the Re-Commerce Industry?
- Which specific Re-Commerce market segments should industry competitor target to capitalize on recent technological advancements?
- What is the projected growth rate of the global Re-Commerce market?
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