Millennials propel rapid growth of the second-hand luxury goods market in the Middle East

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01-Jun-2021

According to Luxury Promise report, the Middle East’s love for luxury is fuelling rapid growth in the second-hand luxury goods sector.  Whilst the pandemic has resulted in reduced in-person shopping, online platforms have profited from a surge in demand from millennials keen to acquire high-end goods at affordable prices. Sabrina Sadiq, founder and CEO of Luxury Promise said: “Our revenue increased fivefold this year due to more customers shopping online throughout the lockdowns." Traditionally, consumers from the Middle East region have preferred to shop for new goods however, this has changed due to younger, more environmentally conscious consumers looking for affordable high-end goods in prime condition.

 

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