The second-hand footwear, apparel, and accessories market has tripled its size worldwide in the last two years and now has an estimated value of $120 billion per year, according to analysis carried out by Boston Consulting Group and Paris-based leathergoods resale platform Vestiaire Collective.

According to the research, the second-hand market is currently worth up to 5% of all fashion sales, but the analysts said this could reach 40% in future.

They based this assumption on the fact that 40% of consumers they spoke to in conducting the research said they regarded buying second-hand products as a sustainable choice. Vestiaire Collective said this applied to footwear in particular.

Image: Vestiaire Collective

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