In 2023, the turnover of the retail of second-hand markets in China was recorded at 12.50 hundred million Yuans Renminbi. By 2024, it is forecasted to decline to 10.24, marking a year-on-year decrease of 18.08%. Moving into 2025, the turnover is expected to drop further to 8.0, representing a 21.88% decrease from 2024. The downward trend continues with a predicted value of 5.78 in 2026 (a 27.75% decrease from the previous year), 3.56 in 2027 (a 38.41% decrease), and finally reaching 1.36 in 2028, which signifies a substantial decline of 61.80% from 2027. The five-year compound annual growth rate (CAGR) from 2024 to 2028 stands at -35.04%.
Future trends to watch for include:
- Shifts in consumer behavior towards sustainability and cost-saving, which could influence second-hand market dynamics.
- Impact of new digital platforms and technology-driven solutions in facilitating second-hand retail.
- Regulatory developments and policies aimed at encouraging or restricting second-hand market activities.
