[🇺🇸] Global Luxury Market Shifts Toward “Resale” Trend — “Korea’s Growth Most Prominent”

The global luxury market is undergoing a major shift. Amid persistent inflation, strong exchange rates, and high tariffs driving up new product prices, the luxury resale market—rooted in the idea of “rational luxury consumption”—is booming worldwide. What began as a niche has evolved into a mainstream culture that balances value and sustainability.

According to Research and Markets, the U.S. luxury resale market is projected to grow from $8.65 billion in 2024 to $13.04 billion by 2030. Premium handbags from Hermès, Louis Vuitton, and Chanel—the so-called “H-L-C” trio—continue to lead the market, while other categories such as footwear, watches, and jewelry are expanding rapidly. Additionally, 59% of American consumers said they would buy secondhand if luxury prices rise further, reflecting a structural change in purchasing behavior.

Generational change is also fueling this movement.

Millennials and Gen Z consumers prioritize sustainability and practicality, favoring “sustainable luxury consumption” that reduces waste and supports a circular economy. Market research firm IMARC reports that the global resale hub is shifting toward Asia, particularly South Korea. Koreans already rank among the world’s top luxury spenders, with an annual per capita expenditure of about $325 on luxury goods.

Generational change is also fueling this movement.

Millennials and Gen Z consumers prioritize sustainability and practicality, favoring “sustainable luxury consumption” that reduces waste and supports a circular economy. Market research firm IMARC reports that the global resale hub is shifting toward Asia, particularly South Korea.

Koreans already rank among the world’s top luxury spenders, with an annual per capita expenditure of about $325 on luxury goods.

An industry official noted, “Korean consumers are trend-sensitive and meticulous in product comparison. The rise of ‘smart luxury consumption’—seeing and trying products firsthand before buying near-new items at reasonable prices—is reshaping the market.”

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