Chinese Shift to Second-hand Luxury Amid Economic Struggles

With China’s ongoing economic recovery challenges post-pandemic, a noticeable shift has emerged among Chinese consumers favoring the second-hand luxury market and emerging local brands over global fashion powerhouses. The once predominant trend of splurging on Western luxury brands has waned, impacting giants like LVMH and Hermes, leading to store closures in response to changed consumer behaviors. This changing landscape witnesses consumers now prioritizing deals and value over extravagant spends. Notably, a surge in China’s second-hand luxury market by 15 to 20 percent in 2025 reflects a significant shift in purchasing patterns. This stands in stark contrast to the overall contraction…