There is a huge market for used shoes whether you are looking at the retail or second-hand shoes wholesale market. Footwear is in demand year-round, with a variety of footwear available in the market, from flip-flops and comfort sneakers to fancy footwear. A major factor for the growth in used shoe demand is their significantly lower price in comparison to the branded footwear.
The female customer share in the market is represented in a disproportionately large ratio. More significantly, the second-hand footwear market is on a steep growth trajectory. The surge in demand can be attributed to two factors – their visibility in different styles on social media and the growth in environmentally-conscious consumers. Consumers’ perception of fashion products is changing, and they see fashion products as tradable assets. These factors have revolutionized the used footwear market.
Used Footwear Market: Growth Drivers
The emergence of the circular economy is yet another big plus to drive the growth of the used or second-hand shoes wholesale market. Consumers are today more environmentally conscious than ever before. They understand how deep an impact the fashion industry makes on the environment. The second-hand shoe industry or the recycling economy contributes to combat the adverse global environmental impact. This is perhaps a major growth driver of the second-hand apparel, accessories, and footwear market.
Used Shoe Market: Trends
The highly unorganized second-hand footwear market is currently experiencing the on-rush of fashion retailers with mega opportunities emerging in the resale segment. The resale business momentum comes from rapidly emerging opportunities. This opportunity comes from the current and projected growth of adopting the resale trend among consumers.
Adopting used products comes with a huge sense of satisfaction to the growing number of environmentally conscious consumers at a young age. It gives them a feeling of contributing to the safe environment movement. In effect, the second-hand foot market has already begun to feel the impact of growth.
Emerging Opportunities
The used shoes market will further enhance the opportunities as increasingly more players are entering the market. While it will bring about greater competition in the market, it will also at the same time push in the product diversity and variety. However, the customer base of the used shoes market is increasing at a much higher pace than the entry of new players. It promises to ensure growth opportunities for everyone. The women shoppers’ growth rate has been at about 20 to 26% since the last few years. In other words, the women customers are set to create positive opportunity trends in the market in the long term as well.
The second-hand shoes wholesale market is an actively functioning year-round market. Also, this evergreen market attracts buyers of all ages giving it potentially a boost with many varieties and market segmentation. There are those that thrift the most such as the millennials and baby boomers. There are environmentally conscious Gen X and Gen Z shoppers who look for variety and product diversity. The rich inclusion of the widest customer segment in this market project huge potential and massive growth opportunities in the coming years. The process of the used shoes market is already on its way to mainstreaming.
Market Challenges
The second-hand market is mainstreaming, but it has not yet been completely adopted. The recycling economy is appreciated by all but its adoption is not moving at the same pace as its acceptance. Consumers still hesitate to buy second-hand or used shoes when choosing between branded new shoes and used shoes. That alone probably explains the less than the expected growth rate of this market. Other negative factors like the quality and durability of second-hand footwear resist their wholesale acceptance among consumers.
The recent pandemic has added to the challenge with restrictions imposed globally on movements to curb virulence has impacted the supply chain. The demand and supply cycle hasn’t kept pace as on normal days. Yet, the demand, however, is poised to pick up once the businesses resume their normal activities. The current slowdown in the market is also attributed to transforming consumer spending priorities during the economic downturn, which is a temporary phase.
Future Outlook
Some key players have already emerged in the second-hand footwear market. Many more are likely to emerge with the companies aggressively luring customers with huge discounts and benefits on second-hand products.
The second-hand shoes are gaining rapid momentum in the African, Middle East, and Asia-Pacific markets. The consumer in these markets shows a clear preference for frequent turnover of footwear within their affordable budget. Developed regions, including the US and Europe, have been driving growth due to ecological consciousness legitimizing the circular economy. Overall, despite some current challenges, the overall market outlook appears positive, with rapid growth projected in years to come.
Samiyatex is a major player in this industry since 1992 and is one of the leading exporters of used clothing and shoes. They specialize in the exporting` used shoes and primarily serve two major global regions: Africa and America. They understand the needs of each region and provide them with what they require.
