In-Depth Analysis of the US Recommerce Market: 2024-2030 Forecasts
According to the latest findings by MarkNtel Advisors, The US Recommerce Market size is estimated to grow at a CAGR of around 14.5% during the forecast period, i.e., 2024-30. The report provides an in-depth analysis of crucial aspects such as market trends, size, forecasts, growth factors, challenges, and competitor assessments. Conducting a thorough examination of the US Recommerce Market, the report offers insights into recent developments and presents an overview of the market landscape.
US Recommerce Market Segmentation Analysis:
Our research report meticulously explores the US Recommerce Market, breaking it down into these key segments: By Type (Peer-to-Peer Marketplaces, Resale Marketplaces, Refurbished Goods Marketplaces), By Product (Electronics, Fashion & Apparel, Furniture and Home Goods, Automotive, Sports and Fitness Equipment, Others), By Product Category (Non-Luxury, Luxury), By Age Group (Up to 18 Years, 19-25 Years, 26-40 Years, 41-55 Years, Above 56 Years), and others. Each segment, along with its subdivisions, undergoes a detailed breakdown to offer a comprehensive understanding of the market dynamics.
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Geographical Coverage:
Our research report on the US Recommerce Market offers comprehensive coverage across different regions, including The North, South, East, Mid-West. It provides detailed information on growth potential in each country and region, offering valuable insights for market stakeholders to strategically plan future operations and investments.
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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Competitive Landscape of US Recommerce Market
The US Recommerce market witnesses’ fierce competition driven by the participation of both foreign and domestic companies. Considerable investments in Research and Development (R&D) have led to multiple innovations in the market. Companies with a reach exert significant influence over the US Recommerce market, and it is anticipated that several international players will expand their presence in the coming years. To maintain competitiveness amidst rivals, vendors must prioritize the development of new technologies and strive to stay ahead of imminent breakthroughs. The report underscores key players in the market, namely:
- RealReal
- ThredUP
- Poshmark
- Gazelle
- Tradesy
- Decluttr
- Swap
- Glyde
- BuyBackWorld
- Threadflip
- others
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Common Queries:
- What is the current trajectory of cost and profit estimations in the US Recommerce Industry?
- How do factors like supply and consumption shape the landscape of the industry?
- In what ways do import and export considerations impact the dynamics of the US Recommerce Industry?
- Which technological advancements are anticipated to shape the future of the US Recommerce Market?
- Who are the noteworthy players highlighted in the US Recommerce Market research report?
- What are the anticipated USD valuations and the CAGR for the forecasted years?
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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
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