Second-Hand Stores, Both Online And Physical, Report Staggering Profits
Though second-hand luxury stores are relatively new in mainland China, chains like Milan Station have thrived in Hong Kong for years
For some of China’s aspirational luxury buyers — typically lower-level white collar workers who have been known to subsist on instant noodles to save up for a particular handbag — the quiet growth of the second-hand luxury market has been something of a godsend. While consignment stores that specialize in high-end second-hand goods have been a fixture in Western markets and Japan for decades, they’re still in their infancy in mainland China. (Though they have existed in Hong Kong for somewhat longer.) However, online and physical stores selling second-hand luxury goods are “quietly rising” both in quantity and popularity, with no real limit to their potential.
From a recent Xinmin article (translation by Jing Daily team):
However, as always, there are risks involved with the second-hand luxury market, primarily the problem of counterfeiting.