Young Koreans Drive Secondhand Luxury Demand With First Paychecks

Park, 26, who joined a company this year, used her first monthly salary of 2.8 million won to buy a secondhand luxury item. Her choice of resale fashion over a new department-store product illustrates how consumers in their 20s and 30s are becoming key players in the secondhand luxury market. The original report said secondhand fashion is growing faster than new products, while a consumer culture of “recommerce literacy,” or understanding product condition, price and transaction methods, is spreading. Secondhand luxury is becoming more than a lower-cost option; it is emerging as a rational purchasing style among younger consumers. If this growth continues, resale fashion transactions and related services led by people in their 20s and 30s are expected to gain more presence. Source: mk.co.kr