The secondhand store market - Germany

1.1 Introduction

The secondhand store market constitutes the sale of used clothing. Consumers can buy or sell fashion items such as clothes, shoes, or accessories.

The world market for thrift stores is growing for several reasons. Besides the very important ecological aspect, there is also a practical aspect. It allows sellers to spare lots of space while earning a bit of money. Also, from a buyer's perspective, buying secondhand clothes is a way to save. The global market for secondhand stores is growing by approximately 10% per year.

Germany makes no exception. There is a strong demand for quality products at low prices. This is due to cultural factors: German consumers enjoy consuming good products and saving as much money as possible. Moreover, economic factors such as the loss of purchasing power have also played their role in this trend. As a result, many second-hand stores have established themselves in the German market.

The main companies present in this market in Germany are companies like Humana. But overall, it is the small retail stores in the city that are very successful. Successful new companies include online platforms like Vinted, which make it easy to link buyers and sellers.

In Germany, strong demand led to the opening of many physical and online stores. The current market development indicates that the demand for used products is yet to slow down. The challenge for new companies that want to succeed in this market is to optimize the customer experience to simplify the purchase. Some companies are therefore trying to improve the clients' journey, thanks to technological innovations. Augmented reality technologies, for example, could help to better visualize products before they are purchased.