Pre-owned luxury goods business gains momentum

China’s second-hand luxury goods market has grown to much that the potential value of all the products that could be traded could exceed three trillion yuan, said the Yaok Institute. — China Daily

SHANGHAI: China’s pre-owned luxury goods market has grown remarkably in recent times as the impact of the Covid-19 pandemic subsides and the purchasing power of middle-income consumers gradually recovers, experts say.

China’s second-hand luxury goods market has grown to much that the potential value of all the products that could be traded could exceed three trillion yuan, said the Yaok Institute, a market research firm.