Every product sold in the world has a second life, and it’s worth $1.4 Bn!
Advertisement
Advertisement
The global trend of buying Second Hand products has been increasing over the last few years. Today’s consumers are more cost conscious and are comfortable buying and selling goods online. Hence, it is of no surprise that the investor sentiment towards the sector has been positive.The global Second Hand Goods market saw a hefty investment of $1.4 billion in 2014 alone vis-à-vis the $196.4 million in 2013. Over $1.1B has been invested since January 2015 across the various categories of Second Hand Goods segment. Some of the top funded categories are Horizontal and Luxury Fashion. Top investors like SV Angel, Accel Partners, Tiger Global and Sequoia Capital have shown interest in this burgeoning market.
BI India brings insights from Tracxn ‘Second Hand Goods’ Report that takes a comprehensive look at the market, and over 300 companies within it.
While the $1.4 Bn number is amazing, the upsurge in investment since 2011 is also revealing of the potential of the market.
Advertisement
It's no wonder that Luxury fashion is among the top sectors here. Can't buy it from a store? Get a second-hand for half the price that looks as good as new!
Furniture is one among the upcoming markets that investors are looking to bank on.
Image credit: Indiatimes
Advertisement
- RBI Governor Das discusses ways to scale up UPI ecosystem with stakeholders
- People find ChatGPT to have a better moral compass than real humans, study reveals
- TVS Motor Company net profit rises 15% to ₹387 crore in March quarter
- Canara Bank Q4 profit rises 18% to ₹3,757 crore
- Indegene IPO allotment – How to check allotment, GMP, listing date and more
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market