The US Recommerce Market size is estimated to grow at a CAGR of around 14.5% during the forecast period, i.e., 2024-30. According to MarkNtel Advisors Study.
US Recommerce Market Driver:
Increasing Population of Millennials and Gen Z to Promote the US Recommerce Market – The recommerce industry in the US is experiencing a remarkable recovery, with major support from the Millennial and Gen Z populations. These digitally native and sustainability-conscious generations are reshaping the retail landscape by embracing second-hand commerce, thus driving the growth of the recommerce industry in the country. While the recommerce industry has attracted consumers across all age groups, Millennials and Gen Z have emerged as key enthusiasts owing to factors such as sustainability, budget-friendly shopping, unique personal style, tech-savvy engagement, etc. According to the US Census Bureau, millennials and Gen Z accounts for 32.2% of the total US population in 2024, this percentage is expected to grow further in the coming years, thus making the US a key market for refurbished products.
Additionally, recommerce companies are embracing cutting-edge technology to create user-friendly and visually appealing platforms for the younger population. Mobile apps have become a primary focus, providing seamless and on-the-go shopping experiences tailored to the preferences of digital natives. Thus proliferating the growth of the recommerce industry in the US. For instance,
In 2020, Poshmark, one of the key players in the US recommerce market, has introduced in-app purchasing for its customers. The ability for users to make purchases directly within the app has been introduced to streamline the buying process and enhance customers’ convenience.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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US Recommerce Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Type
- Peer-to-Peer Marketplaces- Market Size & Forecast 2019-2030, (USD Million)
- Resale Marketplaces- Market Size & Forecast 2019-2030, (USD Million)
- Refurbished Goods Marketplaces- Market Size & Forecast 2019-2030, (USD Million)
- By Product
- Electronics – Market Size & Forecast 2019-2030, (USD Million)
- Smartphones & Tablets – Market Size & Forecast 2019-2030, (USD Million)
- Laptops & Computers – Market Size & Forecast 2019-2030, (USD Million)
- Cameras and Photography Equipment – Market Size & Forecast 2019-2030, (USD Million)
- Home Appliances (Refurbished Refrigerators, Washing Machines, etc.)- Market Size & Forecast 2019-2030, (USD Million)
- Others (Networking Equipment, Gaming Consoles and Accessories, etc.) – Market Size & Forecast 2019-2030, (USD Million)
- Fashion & Apparel – Market Size & Forecast 2019-2030, (USD Million)
- Clothing – Market Size & Forecast 2019-2030, (USD Million)
- Footwear – Market Size & Forecast 2019-2030, (USD Million)
- Accessories (Jewelry, Watches, Handbags, etc.) – Market Size & Forecast 2019-2030, (USD Million)
- Furniture and Home Goods- Market Size & Forecast 2019-2030, (USD Million)
- Sofas and Couches – Market Size & Forecast 2019-2030, (USD Million)
- Tables & Chairs – Market Size & Forecast 2019-2030, (USD Million)
- Home Decor (Rugs, Paintings, Vases, etc.) – Market Size & Forecast 2019-2030, (USD Million)
- Others (Garden Equipment, Bathroom Accessories, etc.) – Market Size & Forecast 2019-2030, (USD Million)
- Automotive- Market Size & Forecast 2019-2030, (USD Million)
- Used Vehicles- Market Size & Forecast 2019-2030, (USD Million)
- Vehicle Parts and Accessories- Market Size & Forecast 2019-2030, (USD Million)
- Sports and Fitness Equipment- Market Size & Forecast 2019-2030, (USD Million)
- Others (Toys, Collectibles, Books, etc.)- Market Size & Forecast 2019-2030, (USD Million)
- Electronics – Market Size & Forecast 2019-2030, (USD Million)
- By Product Category
- Non-Luxury- Market Size & Forecast 2019-2030, (USD Million)
- Luxury- Market Size & Forecast 2019-2030, (USD Million)
- By Age Group
- Up to 18 Years- Market Size & Forecast 2019-2030, (USD Million)
- 19-25 Years- Market Size & Forecast 2019-2030, (USD Million)
- 26-40 Years- Market Size & Forecast 2019-2030, (USD Million)
- 41-55 Years- Market Size & Forecast 2019-2030, (USD Million)
- Above 56 Years- Market Size & Forecast 2019-2030, (USD Million)
- By Region
- North
- South
- East
- Mid-West
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – RealReal, ThredUP, Poshmark, Gazelle, Tradesy, Decluttr, Swap, Glyde, BuyBackWorld, Threadflip, and others looking forward to strengthening their market positions.
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